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
- 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
- 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.
-Delist securities from Hyderabad Stock Exchanges Ltd (HSE) w.e.f. March 29, 2006.
-Suryajyoti Spinning inaugurates new plant at Rajapur.