| The Company was incorporated as a public limited company on 2nd November 1989. The company had set up a 100% Export oriented cotton spinning unit with an installed capacity of 20,160 spindles to be expanded upto 25,000 spindles for the manufacutre of combed cotton yarn at village Malyankulam, Tamilnadu. The company was promoted by T.R. Dhinakaran and Associates. The company's object is to manufacture cotton yarn. 1992 -The company offered 1,20,000 No. of equity shares of Rs.10 each for cash at par of which 35,00,000 shares were offered to the Directors, their friends and relatives, 13,00,000 No. of equity shares were offered to employees and the balance 57,00,000 shares were offered to public. (All were taken up and 18,00,000 additional shares allotted to retain 15% of total issue). -1,38,00,000 No. of equity shares issued through prospectus. |
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