| YEAR EVENTS 1979 - The Company was incorporated on 26th February. The main objective of the Company is to manufacture of cotton and polyester/viscose blended yarn. 1980 - All shares taken up by promoters, directors, etc. 1981 - 5,910 pref. shares of Rs. 100 each converted into 59,100 No. of equity shares of Rs. 10 each. 2,57,900 shares reserved for allotment to promoters/directors etc. 11,10,000 shares offered to the public. 1988 - During the Company took up a programme of modernisation. 1991 - In production was adversely affected by labour unrest. Profitability also suffered due to unremunerative prices of finished products. 1994 - During the year, the Company entered the international market and exported yarn to Bangladesh and UAE markets. |
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