- The Company was incorporated as a Private Limited Company on 7th
February, 1991 under the name Prakash Solvent Extraction Private Ltd.
The Company was converted into a Public Limited Company on 20th
- The Company is promoted by Mr. Thawardas Punjabi, Mr. Laxmichand
Punjabi and their family members. The main object of the company is
Manufacture of Castor Oil, rise bran oil, of non edible grade from
castor oil cake and rice bran oil.
- The company undertook to set up a solvent extration plant with 100
TPD capacity for extractors of oils like edible/non edible oils with
a processing capacity of 30,000 tonnes p.a. of rice bran oil cake and
castor oil cake. The residue deoiled cakes was to be used as
cattlefeed both in domestic and international market. Land
admeasuring 17.318 sq. mtrs. was acquired at Taluka Sanand district
- 3,50,000 No. of equity shares of Rs. 10 each issued for cash at
par. 30,00,000 No. of equity shares of Rs. 10 each were then issued
at par of which 5,00,000 shares were reserved for alloment on a
- (i) 2,000 shares to employees (none were taken up),
- (ii) 3,00,000 shares to Mutual Funds (none were taken up).
- Balance 21,98,000 shares along with unsubscribed portion from
preferential quota was issued to the public (only 23,42,766 shares
taken up). The unsubscribed portion of 1,44,766 shares
devolved on the underwriters.