Aksh Optifibre Share price

The Company was established as a Private Limited Company onMarch 19 1986 in the name of Aksh India Private Limited and wasconverted into a Public Limited Company on March 13 1994 videspecial resolution passed on March 8 1994. The registeredoffice of the Company has been shifted to Bhiwadi Rajasthanw.e.f. 7th February 2000 from Badarpur in New Delhi.Aksh Optifibre Limited (hereinafter referred to as ''Aksh'') wasoriginally promoted by the Choudhari Family and Navani Family.The Choudhari family was represented by three brothers namelyMr. Bharat S. Choudhari Dr. Kailash S. Choudhari and Mr.Sailesh S. Choudhari and the Navani Family was represented byMr. H.V. Navani and his son Mr. Sanjeev Navani.Since all other members of both the families have relinquishedtheir interest in favour of Dr. Kailash S. Choudhari thecontrol over the affairs of the Company rests with Dr. KailashS. Choudhari who is now the sole promoter.AKSH was originally incorporated for manufacture and export ofPVC and PE Insulated speciality Cables the Plant for which waslocated at Mohan Co-operative Industrial Area Badarpur in NewDelhi. Subsequently in the year 1994 Aksh decided todiversify into Optical Fibre Cables and set up a plant atBhiwadi Industrial Area Rajasthan appx.70 kms. from Delhi withan installed capacity of 6500 CKM (Cable Kilo Meters) per annumat a capital outlay of Rs.910 lacs. Subsequently theRegistered Office of the Company was shifted to Bhiwadi inRajasthan w.e.f. 7th February 2000.The Optical Fibre Cables manufacturing capacity was expanded to13708 CKM in 1996 and raised further to 33222 CKM in1998-1999 with in-house capabilities.Further in order to insulate itself from raw materialshortages price fluctuation in the global markets and toachieve higher value addition the Company integrated backwardsinto the manufacture of Optical Fibre with an installed capacityto manufacture 150000 fkm per annum with equipment supplied byNokia of Finland.The cabling capacity has been further increased by 17136 CKMto 50358 CKM by way of acquisition of the OFC plant of CMI Ltd.The Company has acquired the immovable properties movableproperties and the Current Assets of the OFC division as a goingconcern vide agreement dated 29th October 1999 with effect from30th June 1999 for a Gross consideration of Rs.1146.57 lacs.After reducing the Current Liabilities of Rs.324.45 Lacs theNet consideration was at Rs.822.12 Lacs. The consideration ispartly paid by taking over outstanding Term Loans of Rs.610.25Lacs and the balance was adjusted towards redemption of itsinvestments made in the Redeemable Preference shares of CMI LtdBoth the plants are located within 2 Kms. of each other atRIICO Industrial Area Bhiwadi Rajasthan.The Company decided to focus on Optical Fibre Cables anddivested the PVC division as a going concern to Icon CablesLtd New Delhi vide agreement dated 29th October 1999 for aconsideration of Rs.350.81 lacs.The name of the Company has been subsequently changed to AkshOptifibre Limited w.e.f. 17th April 2000 to properly reflectthe core activities of the Company.