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oversubscription.
- Simultaneously with the above rights issue, the Company
offered
1,20,000-14% fully convertible debenutres of Rs. 250 each
through
a prospects out of which 10,000 debentures were Additional
1,500
debentures were allotted to the employees to retain
oversubscription. The balance 1,10,000 debentures were
allotted
to the employees to retain oversubscription. The balance
1,10,000 debentures were offered to the public. Additional
16,500 debentures were allotted to the public to retain
oversubscription.
1993 - Another expansion project for manufacture of value
added
yarns
in man made fibres/cotton was undertaken. During the year,
the
company undertook diversification programme to
generateenergy
through wind mills.
- The Company also proposed to set up a worsted spinning
unit
of
the capacity of 18500 spindles at an estimated investment to
facilitate the manufacture of more value added yarns of
polyester/wool and pure wool.
- 23,00,000 No. of equity shares allotted at a prem. of Rs.
10
per
share on conversion of 14% fully convertible debs.
1995 - The Company erected eight wind turbines with
aggregate
capacity
of 1.8 MW at Anantapur, Andhra Pradesh.
1996 - The Company reinforced the existing plant and machinery
with
imported Auto cone winding machines to improve the quality
of
yarn.
- 20,00,000 warrants were issued to promoters and their
associates.
Warrants are convertible into equity shares of Rs. 10 each
at
a
premium of Rs. 6.55. 10% of the amount was reissued by the
Company and the balance will be paid on
conversion.Conversion
will take place within 18 months from the date of allotment.
1997 - The name of the Company was changed to the present one
from
Priyadarshini Spinning Mills Ltd.
2002-C Harish appointed as Executive Director of
Priyadarshini
Shipping Mills.
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-B Venkatesh Babu appointed as Company Secretary and
Compliance
Officer of Priyadarshini Spinning Mills
2005
-Priyadarshini Spinning Mills Ltd has informed that Mr. H
Suresh
Prabhu has been appointed as Syndicate Bank Nominee Director on
the
Board of the Company w.e.f. October 29, 2005.
2006
-Priyadarshini Spinning Mills Ltd into manufacturing and
marketing of
cotton and synthetic yarn has announced the appointment of
Mr
Shashidhar S. Hiremath, as the Operation Head for its
garment
division apparelone.
-Priyadarshini Spinning Mills names Mr Shashidhar as Operation
Head
2009
- Priyadarshini Spinning Mills Ltd has informed that Mr.
PusapatiRamachandra Raju is appointed as independent director in
the Board of
the Company with effect from July 31, 2009.
