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History of RMI Foods Ltd.

Roadmaster Foods limited [RFLs] was incorporated on 2nd July 1976 under the name of Jiwan Milk & Allied Speacilities Ltd., for manufacture of Skimmed Milk Powder, Whole Milk Powder, Dairy Whitener, Infant Milk Powder & Ghee. The Comp. has been promoted by Roadmaster Industries of India limited [RMIs], a recognised export house, & Mr. H. C. Goyal. The Comp. obtained certificate for Commencement of Business on 6th August 1976. In the year 1988-89 it put up a plant at kotkapura, Distt Faridkot, Punjab for processing 300000 Ltrs. per day of milk at a total cost of Rs. 648 lacs. Commercial production commenced om 2nd June 1989 as against Dec. 1988 mentioned in projects made by ICICI.

The Comp. made rights offer in March 1993 to its existing shareholders viz. ICICI, IFCi & IDBI of Rs. 346.40 lacs consisting of 21.65 lac shares of Rs.10 each at a premium of Rs.6 per share. SCICI subsribed to 30000 Equity shares of Rs. 10 each at a premium of Rs.6 per share on 1.7.93 through part renunciarion of their rights offer by promoters in their favour.