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History of Ankit Yarns Ltd.

YEAR EVENTS 1989 - The Company, Ankit Yarns Limited, was originally incorporated as a Pvt. Limited Comp. on 11th December, & subsequently converted into a Public Limited Comp. on 21st September, 1990. It was promoted by Ramavatar Kanodia, Ramakant Kanodia, Ajay Jain. The Comp. is presently engaged in the manufacture of Texturised Yarns with production capacity of 424 Tonnes pa. at its factory at G36, MIDC, Tarapur, a notified backward area in Maharashtra.

1994 - 5,00,000 No. of Equity shares of Rs 10 each issued subscribed and paid-up. 38,53,600 No. of equity shares of Rs 10 each then issued at par in December 1992 of which 6,000 shares reserved for allotment on a preferential basis to employees. [None were taken ups]. Balance 26,14,000 shares along with unsubscribed portion of 6,000 shares were offered to public [only 25,39,788 shares taken ups]. Of these 12,33,600 shares subscribed by promoters.

1995 - The Comp. undertook to set up a plant for twisting of yarn and twisting & texturising of speciality yarn like roto & bright yarns. Two for 1 twister machine was procured apart from SDS 700, TFOs, Roto set etc.