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Professional Diamonds > Company History > Diamond Cutting/Precious Metals/Jewellery > Company History of Professional Diamonds - BSE: 523001, NSE: N.A
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પ્રોફેશનલ ડાયમન્ડસ
BSE: 523001|SECTOR: Diamond Cutting/Precious Metals/Jewellery
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Company History - Professional Diamonds
The company was incorporated on 28th October,1985 at Mumbai.  The main
 objects of the company Equipment financing to professionals,off-shore
 rig ticket leasing, financial services in the areas of merchant
 banking, leasing and hire and technology transfer through joint
 venture, etc., and arrangement and participation vendor sales-aid
 programmes.  It also exports cut and polished diamonds.
 
 
 1986 - 70 Shares subscribed for by the signatories to the Memorandum
 of
        Association.  9,99,930 shares then issued at par out of which
        3,99,930 shares were reserved and allotted to promoters,
        directors, etc.  
 
      - Out of the remaining a (6,00,000 shares, 3,00,000 shares were
        reserved and allotted to non-resident Indians and the balance
        offered for public subscription during February.
 
      - 2,50,000 additional shares allotted to retain
 oversubscription
        (1,50,000 shares to the public and 1,00,000 shares to
 promoters,
        directors, etc.)
 
 1988 - In view of the change in the principal business of the
 Company
        from leasing and hire purchase finance to export of cut and
        polished diamonds, the name of the company was changed from
        Professional Equipment Finance Company Ltd., to Professional
        Diamonds Ltd.
 
      - 7,50,000 Rights equity shares issued at par in prop. 3:5.
 
 1994 - The company, with a view to furthering its exports proposed
 to
        concentrate on the USA and the South East Asia.
 
 1995 - During the year excess supply of rough diamonds caused 
        expectation of price depreciation resulting in reduced
 business 
        activity.
 
Source : Dion Global Solutions Limited
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