Sonu Synthetics Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

YEAR EVENTS
1986 - The Company was incorporated on 7th January and the Certificate
of Commencement of business was obtained on 16th January. It was
promoted by the Deora family. The main object of the company is
manufacture of synthetic and Art Silk Fabrics. The products of
the company are sold under the brand name of "CEKOWA".

- 2,22,500 No. of equity shares subscribed for by the signatories
to Memorandum, promoters, directors etc. 4,27,500 No. of equity
shares issued at par of which 37,500 shares reserved and allotted
to promoters, directors etc. and the balance of 3,90,000 shares
offered for public subscription in October 1987.

1987 - The company undertook to set up a synthetic and art silk fabrics
manufacturing unit with 72 automatic power looms at its weaving
plant at Murbad, District Thane in Maharashtra and commenced the
manufacturing activity in May.

1988 - By June, the number of looms in operation increased to 56.

- The company took up establishment of a draw texturising plant at
Murbad with assistance from financial institutions.

- 6,50,000 No. of equity shares issued at par of which

- (i) 1,30,000 shares reserved for allotment for the existing
shareholders (all were taken up) and

- (ii) 32,500 shares reserved for preferential allotment to
employees (including working directors)/workers (only 31,100
shares taken up).

- The balance of 4,87,500 shares together with the unsubscribed
1,400 shares of the employees quota offered for public
subscription during October. Additional 19,500 shares to the
shareholders and 78,000 shares to the general public allotted to
retain oversubscription.

1989 - A letter of intent was received for installing 25,000 spindles
for the manufacture of blended yarn.

1990 - A project was set up at village Vasona, Silvassa (Union Territory
of Dadra & Nagar Haveli) with spindleage of 16,128 nos. for
manufacture of blended yarn.

1991 - Increased competition in the domestic market, liquidity crunch in
general and the sudden Gulf Crisis, the overall working could
have been still better.

- 8,076 spindles were installed and commercial production was
expected to commence from December onwards.

1992 - During October-November, the company offered 41,92,500 No. of
equity shares of Rs. 10 each at a premium of Rs. 15 per share on
Rights basis in the proportion 3:1 (all were taken up).
Additional 3,84,589 shares were allotted to retain
oversubscription.

- Simultaneously another 2,09,625 No. of equity shares of Rs. 10
each were offered at a premium of Rs. 15 per share to employees'
on an equitable basis only 12,500 shares taken up. Unsubscribed
portion of 1,97,125 shares was allowed to lapse. Subsequently
13,200 shares were kept in abeyance of these 9,900 shares were
allotted in 1994.

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