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History of Adhunik Yarns Ltd.

YEAR EVENTS 1987 - Adhunik Yarns Limited was incorporated as a Public Limited Comp. on September 2, & obtained its business commencement certificate on 18th September. The Comp. is engaged in the Business of texturising, twisting, yarn dyeing etc. The Company promoted by Radheshtyam Poddar & Sandeep Poddar.

- The Comp. proposed to set up a process house with a capacity of processing 48,000 meters per day of synthetic fabric at Vapi, Gujarat.

1994 - During September the Comp. offered 25,00,000 Equity shares of Rs. 10 each for cash at par of which 5,00,000 shares were offered to the Mutual Fund [only 2,00,000 shares were taken ups] 2,50,000 shares were offered to the Financial Institution [None were taken ups] & the balance 17,50,000 shares were offered to the public. [All were taken up including unsubscribed portion of shares offered to the Mutual Funds & Financial Institutionss]

1995 - The overall performance of Comp. was affected due to continuous fall in price of raw material. The demand of synthetic fabrics was slackened due to poor off-take.