|
History of
Yenepoya Minerals & Granites Ltd.
YEAR EVENTS
1990 - The Comp. was incorporated as a Private Limited Comp. on July
31st, 1990 & was converted into a Public Limited Comp. on
15/06/92. The Comp. has been promoted by Mr. Y. Mohamed Kunhi,
Mr. Y. Abdulla Kunhi, Mr. B. Abdul Salam & Mr. A.R. Shetty.
The Comp. manufacture granite tile, slab & other related
products.
- The Comp. undertook to set up a plant for manufacture of
granite tile, slab in its first phase.
1995 - The operations of both tile & slab divisions were adversely
affected due to the inadequate & irregular supply of raw
materials, severe cash constraints etc.
- 2000 No. of Equity shares of Rs 10 each subscribed for by
signatories to the Memorandum of Association. 20,95,500 shares
allotted to promoters, directors etc. 12,02,500 shares allotted
to NRIs on repatriation basis. 89,80,000 No. of Equity shares of
Rs 10 each were issued in February 1993 as follows: On Firm
Allotment Basis: [is] 5,00,000 shares to promoters, Indian
resident directors, [iis] 2,00,000 shares to NRIs on repatriation
basis:
- Of the remaining, following were reserved for allotment on a
preferential basis: [is] 9,800 shares to employees, [iis] 8,00,000
shares to Mutual Funds [only 4,00,000 shares were taken ups],
[iis] 20,00,000 shares to NRIs on repatriation basis [all were
taken ups]. Balance 54,70,200 shares along with 4 lakh shares not
taken up by Mutual Funds were issued to the 20,00,000 shares to
NRIs on repatriation basis [all were taken ups]. Balance
54,70,200 shares along with 4 lakh shares not taken up by Mutual
Funds were issued to the public.
1997 - The Comp. signed a MOU with Coastal Lumber Pvt. Ltd.,
Singapore, for sales of 25,000 Sq. Mtrs. of granite tile p.a.
Also, entered into another agreement with G and M international
S.A., Belgium for export of its entire products.
|
