SENSEX NIFTY
Modern Thread (India) > Company History > Textiles - Spinning - Synthetic Blended > Company History of Modern Thread (India) - BSE: 500282, NSE: MODTHREAD
YOU ARE HERE > MONEYCONTROL > MARKETS > TEXTILES - SPINNING - SYNTHETIC BLENDED > COMPANY BACKGROUND - Modern Thread (India)
Modern Thread (India)
BSE: 500282|NSE: MODTHREAD|SECTOR: Textiles - Spinning - Synthetic Blended
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
Modern Thread (India) is not traded in the last 30 days
Modern Thread (India) is not traded in the last 30 days
Company History - Modern Thread (India)
YEAR                       EVENTS
 1980 - The Company was incorporated as Modern Threads (India)
 Limited, 
        (MTIL) a Public Limited Company on 28th August.  The Company
 was
        jointly promoted by the Rajasthan State Industrial Development
 &
        Investment Corporation, Ltd. (RIICO) and Shri H.S. Ranka. 
 The
        Company Manufacture industrial yarn and sewing thread.
 
 1981 - The company envisaged to expand its spindleage by 12,436
        spindles.
 
 1982 - 70 shares taken by subscribers to the Memorandum of
 Association.
        7,54,000 shares allotted to RIICO and 5,26,930 taken up by
 H.S.
        Ranka, his friends etc. 12,30,000 shares offered to the public
 in
        Nov. 1981.
 
 1983 - The Company added additional capacity of 4,760 spindles.  To
        overcome the power shortage, one more diesel generating set
 of
        350 KVA was installed.
 
      - With a view to diversifying part of its capacity towards
 spinning
        of man-made fibres, the Company undertook to set up a
 balancing
        and diversification scheme.  This scheme was implemented
 during
        1985.
 
 1986 - With a view to manufacture synthetic dyed and fancy yarns,
 the
        Company undertook a scheme.
 
 1987 - The Company decided to completely switch over from cotton to
        synthetic spinning to arrest mounting losses in cotton
 section.
 
 1988 - In order to improve the quality of synthetic blended yarn for
        export, the Company installed sophisticated machines.
 
      - The Company had set up a new 100% EOU consisting of 6,720
        spindles at its existing site at Raila for the manufacture of
        synthetic blended yarn.
 
 1991 - During August, the Company offered 2,51,000-14% fully
 convertible
        debentures of Rs 150 each as rights in proportion 1 equity :
 1
        debenture.  Only 1,76,252 debentures taken up.  The balance
 of
        74,748 debentures, along with permitted retention of 37,650
        debentures were allotted privately.
 
      - Another 12,500-14% fully convertible debentures were offered
 to
        employees, etc. but none were taken.  All this employees
 quota
        was allowed to lapse.  Each debentures of the face value of
 Rs
        150 was to be fully converted into 10 equity shares of Rs 10
 each
        at a premium of Rs 5 per share on 21.4.1992.
 
 1992 - 2,886,500 No. of equity shares allotted on conversion of
        debentures.
 
 1994 - The Company undertook modernisation cum expansion scheme in
 yarn
        division for setting up a new unit under EPCG scheme for an
        installed capacity of 25,344 spindles and to increase the
        existing installed capacity from 23,888 spindles to 25,808
        spindles alongwith modernisation of the existing unit for
        manufacture of synthetic blended grey, dyed and fancy yarns.
 
      - 99,35,760 No. of equity shares allotted (prem. Rs 30 per
 share)
        on right basis in prop. 2:5, 1,94,42,900 No. of Equity shares
        allotted (prem. of Rs 25 per share) to Modern Woollen Ltd.,
 and
        Suneel Textile Mills Ltd. on amalgamation as per order of 
        Rajasthan High Court.
 
 1995 - The Company was in the process of setting up a fully
 integrated
        and international size project to manufacture 170,000 TPA of
        Paraxylene (PX) and 2,50,000 TPA of Purified Terephthalic
 Acid
        in technical collaboration of the world renowned UOP Inter
        Americana of U.S.A. for PX and INCA International, a
 subsidiary
        of DOW chemicals, U.S.A. for PTA.
 
      - Authorised Capital increased.  8,00,000-16% Pref. shares of
 Rs
        100 each allotted through private placement.
 
 1996 - PX & PTA project could not be implemented due to lack of
        requisite finances.
 
 
 
Source : Dion Global Solutions Limited
Quick Links for Modern Thread (India)
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.