Company History: YEAR EVENTS1992 - Fabworth (India) Limited (FIL) was incorporated on 15th May as a Public Limited Company in the State of West Bengal and obtained the Certificate of Commencement of Business on 28th May. It was promoted by the Woolworth (India) Ltd. Uniworth International Ltd. and NRI holders headed by N. R. Lohia and A.P. Lohia. The Company manufacture woollen worsted grey fabrics.1993 - The company set up a 100% Export Oriented Weaving Unit that commenced production of woollen/worsted grey fabrics from 23rd May.
- The company undertook to set up a finishing unit for processing worsted and blended fabrics. The finishing unit proposes to process 39 lakh metres p.a. of all wool/worsted/blended grey fabric.
1994 - The Company implemented the 100% Export Oriented dyeing and finishing unit at MIDC Industrial area Butiburi Nagpur for production of premium quality fabrics.
- The Company during March issued 116 00 000-10% CCRP shares of Rs 50 each through a prospectus.
- Part-A of Rs 20 of the face value of each preference share was converted into two equity shares of Rs 10 each on the date of allotment of shares. Accordingly 232 00 000 shares were allotted.
- Part-B of Rs 30 was to be redeemed at the end of 5th year from the date of allotment of shares.
- 27 00 000 shares issued subscribed and paid-up. 51 25 000 shares reserved and allotted to promoters directors etc.
- Of the remaining the following were reserved for allotment on a preferential basis: (i) 6 47 500 shares to shareholders of promoter companies (all were taken). (ii) 1 50 000 shares to employees of the Company & promoter company (38 450 shares taken). (iii) 15 54 000 shares to NRIs (all were taken up).
- Balance 41 23 500 shares along with 111 550 shares not taken up by employees issued to the public.
2002-Fabworth (India) Ltd has informed BSE that Mr. Rakesh Kumar Kalia has been appointed as a Managing Director of the company with effect from October 29 2002.
