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History of Natural Stone Exports Ltd.

YEAR EVENTS 1985 - The Comp. was incorporated on 14th July as a Private Limited Company. It was subsequently converted into a Public Limited Comp. on 16th December 1992. It was promoted by Gautam P. Chopra & S. Rajashekar & later Suresh P. Chopra joined in the place of Rajashekar. The Comp. is engaged in the business of polished granite slabs with a capacity of 15,000 sq. mtrs. p.a. at its unit at 16 B Tamaka industrial area, Kolar Karnataka.

1995 - 7,50,000 No. of equity shares of Rs 10 each issued, subscribed & paid-up. 82,50,000 No. of equity shares of Rs 10 each were issued in August 1994 of which 24,00,000 shares were reserved for allotment on a firm basis to promoters, directors their friends etc. Of the remaining, following were reserved for allotment on a preferential basis as follows:

- [is] 14,00,000 shares to NRIs on repatriation basis [only 4,68,000 shares taken ups], [iis] 11,50,000 shares to Indian Mutual Funds [only 1,00,000 shares taken ups], [iiis] 6,000 shares to employees [all were taken ups]. Balance 32,94,000 shares along with 19,82,000 shares not taken up under preferential quota was issued to the public [all were taken ups]. 1,41,900 additional shares were allotted to retain over subscription.

1997 - The Comp. undertook to set up a 100% EOU & 86,000 sq. mtrs. p.a. of polished granites at its existing location. State-of-the-art plant and machinery were installed.

- The Comp. entered into a MOU with the following companies: [is] Diamond Hitho Services Inc., U.S.A., the Pacific Stone Pty. Ltd., Leichhardt, NSW, Australia, Red Granite Trading, Dubhai, UAE & Ranee Implex, 984015, Limited, Toronto, Ontario, Canada.