RAGHUNATH INTERNATIONAL L Share price

Raghunath International Limited is a new company incorporatedas a public limited company under the companies act 1956 onOctober 3 1994. The certificate of commencement of business wasobtained on October 11 1994. The company has been promoted byMr. Om Prakash Agarwal Mr. Jai Prakash Agarwal Mr. Sri PrakashAgarwal and Mr. Gopal Chand Gupta. The promoters except Mr.Gopal Chand Gupta are related to each other and are in businesssince long.On October 11 1994 the company entered into an agreement withMr. Gopal Chand Gupta the proprietor of Messrs. InternationalImpex for taking over his concern at a consideration of Rs.1.54lakh in terms of one of the main objects of the company. Thesame was adjusted through the allotment of equity sharesequivalent to the consideration amount to Mr. Gopal Chand Gupta.The said allotment was done on October 12 1994.Messrs. International Impex was engaged in manufacturing panmasala with an installed capacity of 345.60 lakh pouches of 3grams each per annum under the brand name ''SIR''. Accordinglyafter the take over Messrs. Raghunath International Limitedcompany became operational on October 12 1994 with theaforesaid installed capacity of pan masala from the premisesunder the tenancy of Messrs. Raghunath Prasad Agrawal apartnership firm belonging to the directors. The company nowintends not only to continue the existing manufacturing of panmasala but also to increase the capacity of the same besidesdiversifying into other products like gutka and mouth freshener.Towards this end the company is setting up altogether a newproject at Kanpur Dehat.The project is scheduled to be implemented by March 31 1995 andthe commercial production is expected from April 1 1995. Asper the schedule of implementation the existing operations willbe shifted to new premises at Kanpur Dehat. Meanwhile thecompany has installed three new machines (forming part of thisproject) in the same premises where the existing operations ofmanufacturing pan masala under the brand name "SIR" are beingcarried on from.The total cost of the project has been estimated at Rs.500 lakhwhich is proposed to be financed fully through equity. Thepromoters shall contribute Rs.255 lakh and the balance Rs.245lakh shall be raised through the public issue.