The company was incorporated on 13th August, 1979 and the cerificate
of commencement of business was obtained on 10th September. It was
promoted by Jain Group. The main objective of the company is to
manufacture of staple and synthetic blended yarns in
various counts and blends.
1982 - 7,80,000 shares taken up by promoters etc. and 2,00,000
allotted to Haryana Govt. through their agent HSIDC.
shares offered at par for public subscription during January.
1986 - 82,500 No. of equity shares issued at par in conversion of
1987 - The Company installed 14 more ring frames along with
equipments. It was also proposed to install additional 4
1988 - The workers of the factory went on strike on 27th January,
resumed work on 10th February, after negotiations.
1989 - Effective steps were taken to implement the scheme of
of spinning capacity by 960 spindles and installation of some
equipments/machines by way of modernisation of the existing
- The Company proposed to install 24 looms for the manufacture
Terry Towel for 100% export.
1991 - During October, the Company issued 2,03,252 - 14% secured
redeemable partly convertible debentures of Rs. 250 each on
rights basis in the proportion of 10 debentures: 100 equity
shares held. Additional 30,488 debentures were allotted to
retain over subscription.
- Another 10,160 - 14% partly convertible debentures were
to the employees of the Company on an equitable basis. Only
debentures were taken. The unsubscribed debentures were
- Part A of Rs. 125 of each debenture will be converted into 5
No. of equity shares of Rs. 10 each at a premium of Rs. 15
share on the expiry of 6 months from the date of allotment.
- Part `B' of Rs. 125 of each debenture will be redeemable at
in 3 instalments at the end of 7th, 8th and 9th years
respectively from the date of allotment of the debentures.
1992 - Due to late delivery of machines the implementation of
scheme was delayed. Machinery started arriving from July.
- The Company has decided to expand the Capacity by further
spindles of polyester viscose knotless yarn.
- During the Company has promoted a new project in the name of
Pasupati Taoru Ltd. for implementing 100% Export Oriented
for manufacture of Terry Towel.
1993 - 11,70,150 shares allotted on conversion of 14% PCD's allotted
1994 - 23,53,856 shares allotted on conversion of 15% partly
debentures allotted in 1993. 15,00,000 No. of equity shares
Rs. 10 each allotted to promoters through excise of warrants
which Re. 1 called & Paid-up.
1995 - During the year the Company became self sufficient in power
installing its own power generation capacity. The Company
entered into contracts with foreign buyers for export of 30%
its sewing thread production.
- The Company undertook expansion of its capacity for
of synthetic blended yarn by adding 1920 spindles along with
other balancing equipments. Company is also expanding its
cotton yarn EOU capacity from 12,096 spindles to 28,224
1996 - During the Company has diversified into the manufacture of
polyester sewing thread and installed a new unit a village
Dist. Sirmour, Himachal Pradesh with 13440 spindles.