Rajasthan Polyesters Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

The Company was incorporated on 31st January,1985 at New Delhi and obtained Certificate for Commencement of Business on 6th February, 1986. The Company is engaged in the business of Texturising of Synthetic Filament yarn.

1986 - All shares were allotted to the subscribers to the Memorandum of
Association, promoters, directors, etc.

1987 - The Company set up its manufacturing plant for the production of
Partially Oriented Synthetic Texturised Filament Yarn with a
capacity of 990 tons per annum at RIICO Industrial Area, Bhiwadi,
Dist: Alwar (Rajasthan) and started commercial production in
April.

- The Company entered into a firm-tie-up agreement with
Parasrampuria Synthetics Ltd., to texturise their POY on job work
basis to the extent of 100% of this plants capacity. The plant
was commissioned in March.

- To manufacture high quality fabrics, the Company proposed to
expand the existing capacity from 1,000 tonnes to 2,000 tonnes
per annum along with 330 tonnes per annum of twisting facilities.

- 11,09,450 No. of equity shares issued of which 2,66,950 shares to
promoters, their friends, etc. 75,000 shares to RIICO were
reserved and allotted. Out of the remaining 7,45,500 shares,
62,300 shares to employees including Indian working
directors/workers and 14,900 shares to business associates were
reserved for preferential allotment but none were taken up. The
balance 6,68,300 shares along with the 77,200 shares not taken up
by employees and business associates were offered for public
subscription during April 1987. Only 1,75,800 shares were taken
up. The balance 5,69,700 shares devolved on the underwriters.

1989 - The Expansion project was implemented. This resulted in doubled
texturising capacity from 1,000 tonnes per annum to 2,000 tonnes
per annum.

- Another texturising machine was being added along with an
texturising machine fancy twister and draw winder.

1990 - On 16th April, the Company offered 6,20,000 rights equity shares
of Rs 10 each for cash at par in the ratio of 1:2 (all were taken
up).

1992 - The Company proposed to expand its texturising production by over
150% by installing 6 more texturising machines in the existing
unit along with substantial increase in twisting.

- It was also proposed to set up a 100% EOU for manufacture of
cotton socks. Negotiations were on with possible collaborators
and equity participation has been invited both from RIICO & the
would be collaborators.

- 6,20,000 Rights equity shares offered in prop. 1:2 (all were
taken up) on 23-6-1990.

1994 - 29,80,000 No. of equity shares of Rs 10 each at a prem. of Rs 5
per share issued to the public.

1995 - 372,500 cumulative convertible preference shares were issued at a
price of Rs 60 per share. These are converted into 6 equity
shares of Rs 10 each on 1st April, 1998.

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