The company was incorporated on 12th July 1985 and obtained the
Certificate of Commencement of business on 8th April, 1986. It was
promoted in the Joint Sector by Gujarat Industrial Investment
Corporation Limited (GIIC) & Hero Cycles Pvt.Ltd.
The Company has set up a project for the manufacture of Advanced
range of bicycles. Land admeasuring 120 acres was acquired at GIDC
Industrial Estate Waghodia a notified backward area in the Baroda
district of Gujarat State. The Company installed indigenous as well
as imported machinery with facilities to manufacture a multirange
high to fancy & 100% factory assembled bicycles. The Company
installed & commissioned Sophisticated equipment for tool room &
quality control to enable the Company to design & develop in-house,
various tools at low cost & also
to monitor & inspect quality of its components. Commercial
production commenced in the middle of 1988.
The Company developed new kind of bicycles such as BMX children bike
& mountain bike of various sizes for international market. Two models
viz., SLR & Road Star Popular were produced in 1989.
2001 - The Company has entered into an agreement with NSDL, CDLS and
Ltd. (R&agents) for dematerialisation.
-Approved delisting of equity shares from Vadodara, Ahmedabad,
Ludhiana, Delhi, and Calcutta Stock Exchanges.
-Munjal Auto Industries Limited has informed that the equity shares
of the Company have been delisted from Delhi and Ahmedabad Stock
Exchanges effective from December 01, 2003 and December 08, 2003
-Delists shares from Ludhiana Stock Exchange
-Munjal Auto Industries Ltd has appointed Mr. Ramkisan Devidayal as
an additional director of the Company.
- Munjal Auto Industries Ltd has appointed Mr. Sudesh Kumar D Duggal
as an Additional Director of the Company to hold office till the
ensuing Annual General Meeting of the Company.
-Company has splits its Face value of Shares from Rs 10 to Rs 2