YEAR EVENTS 1983 - The Company was incorporated on 23rd May, and had obtained the Certificate of Commencement of Business on 1st June. It was promoted by L.N. Agarwal, B.N. Agarwal and others. The Company did not undertake any activities between 1983 and 1990. - The main object of the Company is to manufacture cotton and blended yarn. - The Company undertook to set up a cotton yarn spinning unit of 15,120 spindles to manufacture cotton yarn of various counts employing the conventional ring spinning technology, at Makthal Village in Mahaboobnagar district of Andhra Pradesh. The Company had installed partial capacity of 5040 spindles. 1992 - The Company undertook to set up another unit at Balanagar, Andhra Pradesh with a capacity of 12,240 spindles to manufacture blended yarns. - 8064 spindles were further installed and the balance 2016 spindles were installed in early 1993-94. - 9,90,700 No. of Equity shares allotted to promoters, directors, etc. 59,09,300 No. of Equity shares of Rs.10 each at par were then issued of which 20,09,300 shares were reserved and allotted on firm basis to promoters, directors etc. Out of the remaining 39,00,000 shares, 1,95,000 shares were reserved and allotted to employees on preferential basis. The Balance 37,05,000 shares were offered to the public in March. Additional 10,35,000 No. of Equity shares allotted to retain oversubscription (4,50,000 shares to promoters, etc., 29,200 shares to employees and 5,55,800 shares to public). 1993 - The Company undertook the modernisation scheme by adding modern machinery like RSB draw frames, auto cone winders etc. 1994 - The Company installed two RSB draw frames imported from Germany and two imported auto coners were under erection. - 39,67,500 shares allotted on rights issue at prem. of Rs.20 per share in prop. 1:2. 2005 -Suryajyoti Spinning Mills receives One Star Export House Status by JDGFT 2006 -Suryajyoti Spinning inaugurates new plant at Rajapur. 2007 -Suryajyoti Spinning has recommended a dividend at the rate of 12% 2008 -Suryajyoti Spinning designated E-mail ID for Investor Complaints: [email protected]. |
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