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निवास स्पिनिंग मिल्स > कंपनी इतिहास > Textiles - Spinning - Cotton Blended > कंपनी इतिहास का निवास स्पिनिंग मिल्स - बीएसई: 521009, NSE: N.A

निवास स्पिनिंग मिल्स

बीएसई: 521009  |  NSE: N.A  |  ISIN:  |  Textiles - Spinning - Cotton Blended

कंपनी इतिहास - निवास स्पिनिंग मिल्स
The Company was incorporated on 19th April, 1984 as a private limited
 company and was converted into a public limited company on 18th June,
 1986.  It was promoted by Jaju family of Solapur (Maharashtra).  The
 main object of the Company is manufacturing and processing of all
 types of yarn both cotton and synthetic, cloth, fabric, textiles,
 etc.
 
 The Company had set up a modern spinning mill at Solapur in
 Maharashtra with the latest open-end spinning technology. Commercial
 production of yarn from cotton waste was started in
 October 1985.
 
 The Company undertook to expand its yarn manufacturing capacity by
 adding one clute fed blowroom line, two modern open end spinnign
 units and two-for-one twisting machine.  These spinning units were to
 be utilised for the manufacture of synthetic yarn of 15 counts, single
 and double.  The installed capacity of this expansion project would be
 2,000 kgs of synthetic yarn per day.
 
 1986 - All shares taken up by promoters, directors, etc.
 
 1987 - 9,90,000 No. of equity shares issued at par, out of which
        1,20,000 shares received and allotted to promoters, etc.  Out
 of
        the remaining 8,70,000 shares, the following shares reserved
 for
        preferential allotment.
 
      - (i) 3,60,000 to NRIs on repatriation basis (only 3,27,200
 taken
        up).
 
      - (ii) 49,500 to employees, etc., (none were taken up).
 
      - (iii) 17,400 to business associates (only 1,500 taken up). 
 The
        balance 4,23,100 shares along with the unsubscribed portion
 of
        1,18,200 out of the preferential quota were offered to the
 public
        in January (all were taken up).
 
 1988 - The Company undertook a terry towel project.
 
 1989 - The Company offered during July/August 1,00,000-14% secured
        redeemable partly convertible debentures of Rs.2.50 each on
        rights basis to the existing shareholders in the prop. of 10
        Debentures: 100 Equity shares (all were taken up).  Rs.50 out
 of
        each fully paid-up Debenture would be converted into 5 No. of
        equity shares of Rs.10 each at par on the expiry of 6 months
 from
        the date of allotment.  The non-convertible portion of Rs.200
 per
        Debenture would be redeemed in 3 equal instalments at the end
 of
        6th, 7th and 8th year from the date of allotment.
 
 1990 - 5,00,000 shares issued at par in part conversion of
 debentures.   
 
 1991 - The Company undertook a project to increase manufacturing
        capacity by setting up 6 open-end spinning units to
 manufacture
        cotton synthetic yarn of higher counts mainly catering to
 export
        markets.
 
      - The spinning machines were imported from Elitex
 Czechoslovakia. 
        The cost of the project was being met through issue of
        convertible debentures aggregating Rs.7.50 crores,
        non-convertible debentures aggregating Rs.2.75 crores and
 State
        subsidy of Rs.0.25 crores.
 
 1992 - The Company offered 12,50,000-14% secured fully convertible
        debentures of 60 each for cash of which 6,95,833 debentures
 were
        offered on rights basis to the existing equity shareholders
        in the ratio of 4 debentures for every 10 equity shares held.
        Out of the balance 5,54,167 debentures, 62,500 debentures
 were
        offered for public subscription in February.  Including the
        retention of oversubscription, the following debentures were
        allotted under this issue:
 
      - (i) 8,00,203 debentures as rights.
 
      - (ii) 40,000 debentures to employees.
 
      - (iii) 5,97,292 debentures to the public.
 
      - As per the terms of the issue, part-A of Rs.20 of each
 debenture
        would be converted into one equity share of Rs.10 each at a
        premium of Rs.10 per share at the end of 6 months from the
 date
        of allotment of debentures while part-B of Rs.40 of each
        debenture would be converted into two equity shares of Rs.10
 each
        at a premium of Rs.10 per share at the end of 12 months from
 the
        date of allotment of debentures.
 
      - The Company decided to privately place 2,75,000-14% secured
        redeemable non-convertible debentures of Rs.10 each with
 Mutual
        funds.  Canbank Mutual Fund agreed to take up 2,25,000
        debentures.  These debentures would be redeemed in five equal
        annual instalments beginning at the end of five year from the
        date of allotment at a premium of 5% to be paid along with
 the
        last instalment.
 
      - The Company proposed to issue equity shares/convertible
        debentures/non-convertible debentures with or with out
 detachable
        warrants for a aggregate amount of Rs.120. crores.
 
      - 14,37,407 No. of equity shares allotted at a premium of Rs.10
 per
        share on conversion of part A of debentures. 
 
 1994 - The Company undertook to set up a spinning unit of spindles
 with
        latest technology with a total outlay of Rs.60 crores.
 
      - 24,84,814 No. of equity shares allotted on conversion of part
 B
        of debentures at a premium of Rs.10 per share.
 
 1995 
 - During May the company issued through prospectus 72,65,500 zero
 interest FCDs of Rs.80 each as follows: 18,15,625 debentures on firm
 allotment to promoters, directors, their friends.  The following
 debentures were issued on preferential allotment basis:
 - (i) 10,85,000 debentures to fin. Institution;
 - (ii) 10,85,000 debentures to Mutual Funds;
 - (iii) 13,02,000 debentures to NRIs/OCBs and 
 - (iv) 10,000 debentures to employees.  Of the these only 19,66,225
 debentures were taken up.
 - Balance 19,64,875 debentures along with unsubscribed portion of
 34,80,650 debentures from pref. quota was issued to the public.
 - Each FCD of Rs. 80 would be converted into two equity shares of
 Rs.10 each at a premium of Rs.30 per share, six months from the date
 of allotment of debentures.
 
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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  • 'KHILADI No.1' @10:57 AM : शेयर बाजार का सबसे रोमांचक खेल
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