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Gravity India > Company History > Textiles - Weaving > Company History of Gravity India - BSE: 532015, NSE: N.A
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Gravity India

BSE: 532015|ISIN: INE995A01013|SECTOR: Textiles - Weaving
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Company History - Gravity India
YEAR                                                      EVENTS
 1987 - The Company was incorporated on 13th March, as a Private
 Limited
              Company under the name and style of Gravity Silk Mills
 Private
               Limited.
 
 1994 - The Company was subsequently converted into a Public Limited
              Company on 28th September, in terms of the special
 resolution
              passed on 31st August, under the name and style of
 Gravity Silk
              Mills Limited and was registered with the Registrar of
 Companies,
              Maharashtra, at Mumbai.
 
            - The Company started its manufacturing activities in
 Masat, 
              Silvassa, Union Territory of Dadra and Nagar Haveli in
 the year
              1989 by setting up a project for the manufacture of grey
 fabrics
              for suiting and shirting.
 
           - The Company has issued bonus shares to the extent of
 6,41,590 No. 
              of equity shares of Rs. 10/- each aggregating Rs.
 64,15,900/- on
              9th April, out of free reserves to the extent of Rs.
 29,80,019/-,
              capital reserves to the extent of Rs. 41,600/- and
 revaluation
              reserves to the extent of Rs. 33,94,281/-.
 
 1997 - The Company proposes to instal one Himson SCRAGG Draw
 Texturising
              Machine with 216 Spindles (Indigeneous) in the existing
 factory
              of the Company at village Masat, Silvassa, Union
 Territory of
              Dadra and Nagar Haveli for a new project for manufacture
 of yarn.
 
           - The Company had come out with a Public Issue for
 30,01,300 No. of 
              Equity Shares as 10/- each at a premium of Rs.5/- per
 share
              aggregating to Rs.450 lakhs.  The Company has allotted
 6,30,000
              equity shares of Rs. 10/- each at a premium of Rs.5/-
 per share
              to the promoters, friends and relatives.
 
 2000 - At the EGM of the company, resolution regarding change in the
             main object clause of the company and to insert object
 clause
             regarding Information Technology business were passed.
 
          - The Company is diversifying into the information
 technology field
             by forming a subsidiary Gravity Infotech Ltd.  The
 Subsidiary
             company is setting up a unit at Mahape in Navi Mumbai.
  
          - Gravity (India) Ltd., formerly known as Gravity Silk Mills
 Ltd., is all
             set to launch a fabric portal by March 2001.
 
           - The Company has taken up expansion-cum-diversification
 programme
              at an capital outlay of Rs 10 crore.
 
 2004
 
 -Gravity India enters into High-End Fabrics
 
 -Issue of bonus in the ratio 2:1.
 
 -Authorized share capital has been increased from Rs.70 million to
 Rs.100 million.
 
 2005
 
 -The company has recommended dividend @ 1% 
 
 2008
 
 -The company has designated E-mail ID for Investors Complaints:
 gravityindia27@yahoo.com.
 
 
 
 
 
 
Source : Dion Global Solutions Limited
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