63 Moons Technologies Share price

The Company was incorporated on 12th April 1988. The Companywas converted into a public limited company on August 11 1994.The Company set up an unit in the Madras Export Processing Zonewhich was ready for commercial production on 7th February 1990.The Company had a technical and financial collaboration withWorldwide Technologies Inc. USA which came to an end on19.10.1990. For sale in the Indian market the Company set upan unit in Pallavaram in September 1991 and has also set up yetanother factory at Reddiarpalayam Pondicherry.Thus the Company had three manufacturing facilities at: 1. Madras Export Processing Zone - For manufacturing of Modems for export (capacity: 1250 modems per shift per month).2. Pallavaram at Madras - For manufacture of Modems for the Indian market (capacity: 300 modems per shift per month).3. Reddiarpalayam at Pondicherry - For manufacture of Modems for the Indian market (capacity: 300 modems per shift per month).All the above manufacturing facilities are for the manufacturingof the same products modems and other data communicationproducts. the manufacturing facilities at the Madras ExportProcessing Zone have been idle from the time of inauguration ofthe factory due to paucity of export orders. The Madras factoryhas subsequently been taken over by Complete Business solutions(India) Pvt. Ltd. (formerly known as Total Business SolutionsIndia) Pvt. Ltd.). Complete Business Solutions (India) Pvt.Ltd. has taken over the export obligation of the Company. MEPZhas given the permission for the transfer of the factory toComplete Business Solutions (India) Pvt Ltd. and is in theprocess of debonding the Company''s materials.The Company has set up facilities at Pondicherry which has become operational from 1.10.1994 as all the relevant approvals i.e. excise clearance factory registration certificate etc. have been received.All these factories are in rented premises. One of the objectives of the public issue is to acquire land and construct building at Pondicherry so that the factory at Pondicherry can be relocated to owned premises. The Company is in the process of identifying a site for the proposed factory.