Company History - Jain Granites & Projects India
1993 - The company was incorporated as a public limited company on
29th October, at Chennai. It was promoted by R. Dilip Bafna,
R. Sunil Bafna and their associates. The main objective of
company is to manufacture polished, multi colour granite
- The company proposed to set up a project at Chennai,
for the manufacture of polished, multi colour granite slabs,
random granite related items catering to the construction
industry mainly to undertake projects for multistoryed
both in India and abroad. The company could not proceed with
implementation of the project due to lease finance not
materialising owing to adverse market conditions and Lira
conversion rate became adverse causing hike in cost of
plant and machinery.
- As an alternative the company had invested in M/s. Tulshan
Granites Pvt. Ltd., 100% EOU a Granite Unit already in
having an installed capacity of 50,000 sq. mtr. per annum.
1995 - During May/June the company offered 72,50,000 No. of equity
shares of Rs. 10 each for cash at par of which 22,50,000
were offered to the Promoters, Directors, their friends and
relatives. 10,00,000 shares were offered to the NRIs, OCBs,
5,00,000 shares were offered to the Banks, Financial
Institutions, 5,00,000 shares were offered to the Mutual
and the remaining 30,00,000 share were offered to the public.