Home  »  Company  »  Suryalata Spinning Mills Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Suryalata Spinning Mills Ltd. Company History and Annual Growth Details

1983 - The Company was incorporated on 23rd May as a public limited
company and obtained the Certificate of Commencement of Business
on 1st June. It is a subsidiary of Suryavanshi Spinning Mills
Ltd., Hyderabad and was promoted by L.N. Agarwal. The main
objective of the company is to manufacture of yarn.

- The Company undertook to set up a spinning mill at Kalwakurthy,
a notified backward area in the Mahabubnagar district of Andhra
Pradesh. Industrial licence was obtained for installation of
17,312 spindles and 1,699 rotors for manufacture of yarn.

1988 - Authorised capital reclassified and increased. 20,000 No. of
equity shares offered at par to the public in January 1989.

1989 - To overcome the power situation, one 750 KVA diesel generator
set was installed.

- Licence was received for the setting up of one more spinning
unit in Bangalore, Karnataka with a licensed capacity of 24,960
spindles and 670 rotors for manufacture of cotton and man-made
fibre yarns.

1991 - Authorised capital increased.

1992 - The Company undertook the modernisation of its Kalwakurthy Unit
with a cost of 700 lakhs by adding most modern machinery like
Autocone Winders, RSB Daw Frames etc.

- 13,80,000 shares allotted (prem. Rs. 15 per share) in conversion
of zero interest fully convertible debs.

1993 - Installation of 7,200 spindles was in progress and these were
expected to go into commercial production by October.

1994 - Company has taken up expansion programme to install additional
6048 and 3600 spindles at its Kalwakurthy and Ramtek Units

-Suryalata Spinning Mills Ltd allotted 70250 Cumulative Redeemable Preference Share of Rs 100 each.


-Suryalata Spinning Mills Ltd has informed that the BoD of the Company at its meeting held on January 19, 2004 has allotted 25,000 Cumulative Redeemable Preference Shares (CRPS) of Rs. 100/- each aggregating to Rs. 25,00,000.
Oct 21, 12:00 am
Oct 21, 4:14 pm
Subscribe now to get personal finance updates in your inbox!