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Ginni Filaments Ltd. Company History and Annual Growth Details

1982 - The Company was incorporated on 28th July, as a public limited
company and obtained the certificate of commencement of Business
on 10th September. It was promoted by J.K. Bhagat. The main
objective of the company is to manufacture cotton yarn.

- The Company undertook to set up a 100% export oriented unit for
the manufacture of cotton combed yarn of fine counts.

- The plant and machinery were to be procured from Lakshmi Machine
Works, Ltd., Coimbatore, Rieter Machine Works, Switzerland,
Volkmann GmbH & Co. and W. Schlathorst & Co. West Germany.

1990 - 1,00,000 No. of equity shares subscribed for by the promoters,
directors, etc. 91,50,000 equity shares issued at par of which
57,50,000 shares reserved and allotted as follows:

- (i) 60,000 shares to promoters, Indian residents directors, etc.;

- (ii) 10,30,000 shares to the Promoters' Associate Companies;

- (iii) 10,00,000 shares to the SBI Mutual Fund and

- (iv) 36,60,000 shares to non-resident Indian/persons residing

- Out of the remaining 34,00,000 shares 4,57,000 shares offered on
a preferential basis to the employees (including working
(directors)/workers of the Company and the promoter companies
(only 16,800 shares taken up). The balance 29,42,500 shares
together with the unsubscribed 4,40,700 shares of the employee's
quota offered for public subscription during June 1990.
Additional 5,10,000 shares allotted to the public to retain

1991 - The Company undertook an expansion/diversification project to
enhance the spinning capacity by 10,224 spindles.

- The Company undertook the scheme for installation of some
balancing equipments and twisting machines.

1992 - 39,04,000 rights shares issued (prem. Rs. 25 per share; prop.
40:100). Another 600 shares (prem. Rs. 25 per share allotted
to employees).

1994 - 20,60,000 No. of equity shares of Rs. 10 each fully paid up were
allotted to the Foreign Institutional Investors and Mutual Fund
by way of private placement on preferential basis on an average
premium of Rs. 51.54 per shares. 53,354 warrants were also
allotted to the present promoters, employees by way of private
placement on preferential basis.

1995 - The Company proposed to set up a 100% Export Oriented Unit for
manufacturing cotton yarn and knit fabric with an installated
capacity of 80,640 spindles and 18 knitting machines at Gujarat.

1996 - The Company proposed to expand the capacity by installing a
Rotor Spinning Machine for spinning coarser count of cotton


-Dr. H.P. Bhattacharya has been appointed as the Director of the company and Mr. Shishir Jaipurai has been appointed as the Managing Director effective from October 30.


-The Company set up a knit process house


-The Company ventured into Nonwoven Consumer Products

-The Company installated rotor


-The Company ventured into Spunlace Nonwoven.

-The Company ventured into Consumer products made from spunlace fabric.

-Ginni Filaments Ltd has appointed Shri Sandeep Gupta as Nominee Director of IFCI on the Board of the Company w.e.f. 28th July, 2007 in place of Shri Ashwani Kumar Sharma.

-Ginni Filaments Ltd has appointed shri S. Singhvi as Compliance Officer in place of Shri D.C. Gupta.


- Ginni Filaments Ltd has appointed Shri. S. Singhvi as Director (Finance) and Shri. R. R. Maheshwari as Director (Marketing & Business Development).


-Ginni Filaments Limited has appointed Shri Saket Jaipuria as Wholetime Director designated as Executive Director.