1979 - The company was incorporated on 15th November in Rajasthan & was
promoted jointly by Rajasthan State Industrial Development &
Investment Corporation Ltd. (RIICO) & three technocrats viz. V.K.
Ladia, Satish Chandra Agarwal & S.R. Jain. The Company is
engaged in the manufacturing of Polyester, Acrylic & viscose
yarns of various counts & blends.
1981 - 4,06,900 shares taken up by promoters, directors, etc., and
4,23,100 shares issued to RIICO. 8,00,000 shares offered at par
to the public in November 1980.
1982 - 70,000 shares issued at par to promoters, etc.
1983 - The Company proposed to expand the installed capacity from 13,680
spindles to 18,960 spindles.
- 55,000 shares is issued at par to promoters etc.
1984 - One 1150 KVA SKL diesel generating set was being installed to
take care of the captive power requirements of the second phase
1985 - 8,77,300 No. of equity shares issued at par. 8,77,500 shares as
rights in prop. 1:2, (all were taken up).
1986 - The Company undertook a modernisation programme to update its
plant and machinery.
1987 - The overall working was affected due to competition from
polyester/nylon filament yarn, high cost of Company's own
generation of power accompanied by frequent power trippings, etc.
New varieties of yarn were introduced during the year.
1988 - Approval from Government was received for the manufacture of 5000
tonnes per annum of polypropylene multifilament yarn.
1989 - Modern carding machines were installed & effective steps were
taken to put up 2,000 tonnes multifilament polypropylene yarn.
- As a part of its modernisation programme, the company undertook
installation of latest carding machines during the year. The
company's high value fancy yarns and new varieties were well
received in the market.
1991 - New varieties of dyed fancy yarns developed during the year was
well received in the market.
- 1,290 spindle were added and a modern autoconning machine and two
for one twisters were installed.
- The Company had commissioned the polypropylene multifilament yarn
- 26,42,250 rights equity shares issued (prem. Rs 15 per share,
prop. 1:1). 3,93,802 additional shares allotted to retain
oversubscription. Another 1,24,100 shares (prem. Rs 15 per
share) allotted to employees.
1993 - 7,680 spindles were commissioned.
1994 - 4,60,000 No. of equity shares of Rs 10 allotted to ICICI on
account of conversion of privately placed PCDs of Rs 115 lakhs at
a prem. of Rs 15 per share on 12.2.1994. 8,00,000 No. of equity
shares of Rs 10 each (prem. 146) allotted to FIIs on private
placement basis on 9.7.1994. 2,00,000 No. of equity shares
arising on conversion of warrants allotted to company's employees
welfare trust on private placement basis. 30,000 No. of equity
shares of Rs 10 each (prem. Rs 61) allotted to SRSL Securities
Ltd. on conversion of warrants on private placement basis.
1998 - 5,00,000 Cu. Red. Pref. Shares of Rs. 100 each allotted to IDBI
on private placement basis.