JINDAL HOTELS Share price

The company was incorporated on 4th May 1984 as a privatelimited Company. Pursuant to the resolution passed at theExtraordinary General Meeting of members held on 5.12.1985 it was converted into a public limited company andfresh certificate of incorporation deleting the word"private" was obtained on 24.1.86 from Registraer ofCompanies Ahmedabad Gujarat. The main object of thecompany is to carry on the business of Hotel andRestaurants. The Company has entered into the capitalmarket in August 1986 by an issue of Equity Shares to thetune of Rs.104.98 lacs. since It has been running as a 3star Category Hotel under the name and style `HOTEL SURYAPALACE'' at Baroda.During the initial years of commercial operations thecompany faced numerous problems viz. frequent communalriots in the City of Baroda consecutive bad monsoon in theyear 1987 & 1988 postponement of various public sectorprojects resultant industrial depression economicrecession etc. These factors altogether resulted in lowersales and consequent losses for the Company. Due toeffective management company''s losses remained undercontrol in these difficult From the year 1991 the companyturned the corner and started earning profits. Thecompany''s successful operations during last 4 years arereflected in the increase in its turnover from Rs. 176 lacsin the year 1990-91 to Rs. 320 lacs in the year 1993-94 anda rise in net worth from Rs.4.91 lacs to Rs.86.16 lacs.Considering the emerging market potential and its soundfooting in the market as a leading hotel in Baroda companyproposes to expand and upgrade the existing Hotel byraising the funds through Right Issue of Equity Shares.g