Company History: YEAR EVENTS1954 - The company was incorporated as a limited company on 6th September and took over the assets and liabilities of M/s. Aaron Spinning and Weaving Ltd. The main objective of the company is to manufacture of cotton yarn (30s to 60s count) and cotton fabrics (mull long cloths poplin cambric and dyed casement).1992 - In order to keep up with the constant demand of upgradation of quality the Company replaced its existing transformer with a unit having a inbuilt boster to boost the voltage by 28%. Also installed a solar unit for heating boiler feed water.
1993 - The Company has installed 7 ring frames 2 carding machines a felt calendering machine a scouring & bleaching machine and a transformer. The Company has also installed a effluent treatment plant.
- 1 63 493 Bonus equity shares issued in prop. 1:1.
1994 - Under the modernisation scheme the Company has commissioned 3 ring frames 2 carding machines 2 JT-10 bleaching machines 2 Ruti `C' looms and an auto coner.
1995 - The Company as a part of its modernisation programme installed 96 Ruti C looms in addition to modernisation of its spinning unit.
- 13 07 952 bonus shares issued on 28.8.1995 in prop. 4:1. Again on 16.10.1995 16 34 940 bonus shares issued in prop. 1:1.
1996 - The Company has installed 2 carding machines 400 cards cans 3 LR Draw Frames with Auto levellers 1 imported auto concer and 16 Ruti C looms
- During June the Company made a public issue of 20 04 000 equity shares of Rs. 10 each at a premium of Rs. 25 per share of which 2 00 000 shares were reserved for allotment to Indian Mutual Funds but no application was received. 2 50 000 shares were reserved for NRIs of which 3 01 700 were allotted. 1 28 500 shares were allotted to financial institutions and bankers and 43 000 shares to Indian banks. Balance 16 31 000 shares along with the unsubscribed portion above were issued to the public. (all were taken up).
