SHREE RAMA MULTI TECH Share price

Shree Rama (hereinafter also referred to as "the Company" or "the Issuer Company") was formed as a partnership firm in the name of Shree Rama Packaging in the year 1986 and was engaged in the manufacture of poly-coated paper used in the packaging of soaps ice-creams etc. coated HDPE fabrics used in the manufacture of tarpaulin etc. at Kadi District Mehsana Gujarat. It was subsequently incorporated as a public limited company on December 17 1993 under Part IX of the Companies Act 1956 by transfer of capital balances of the existing partners. The Company has its Registered Office at Ramnivas - 1 KhanpurAhmedabad 380 001 Gujarat India. The Company has been promoted by two technocrats Mr. Vikram Patel and Mr. Sharad Patel who have a rich and diverse experience in the packaging industry.During 1994 SRML embarked on a project for manufacture of 166 million PLT p.a. at village Motibhoyan District Mehsana Gujarat. The project also envisaged setting up necessary backward integration (manufacturing/processing) facilities namely multi-layered blown film plant extrusion coating plant automatic foil/label printing line and injection moulding machines at cost of Rs 812.1 million. The project was financed by equity share contribution from promoters private placement of ZFCDs (Zero-Interest Fully Convertible Debentures) internal accruals and term loans (IDBI - Rs 255 million and SBI - Rs 150 million ). The project was finally completed at a cost of Rs864.4 million and commenced commercial production in February 1996 (except for the blown film plant which was commissioned in December 1997).Thereafter SRML has increased installed capacity of PLT to 353.2 million nos. p.a. (as on September 9 1999). The effective installed capacity is 249.25 million nos. p.a. based on installation of machines in a phased manner. The project cost estimated at Rs 770 million in June 1997 was financed by way of share capital/FCBs (Rs 150 million) rupee term loans (IDBI-Rs 300 million SBI-Rs 120 million) and internal accruals (Rs 200 million).In 1995 SRML had raised Rs 211.1 million by way of privately-placed ZFCDs of face value of Rs 200 each for financing the original project. The subscribers were two Ahmedabad based NBFCs GLFL and IDBI. In March 1997 these debentures were redeemed at a premium of Rs 120 per debenture- 50% paid in cash and 50% converted into equity shares (atpremium) or 6% FCBs. In 1997 SRML raised Rs 400 million from FIIs - HPEIF and NIF- through privately placed equity shares and 6% FCBs. These were utilized for redeeming the ZFCDs for meeting the working requirements and also for part-financing the recently completed expansion programme. The equity placement was at a premium of Rs 65 per share (face value Rs. 10/-). The bonds were fully converted in September 1998 at Rs 87.5 per share.In September 1998 the company raised another tranche of equity valued at Rs 850 million from FIIs (CDC HPEIF NIF) and the promoters at Rs 132.5 (face value of Rs 10 per share). Of this Rs 86.3 million has been utilized for redemption of 6% FCBs and the balance amount has been earmarked for utilization towards the proposed expansion project.SUBSIDIARIES OF THE COMPANYThe company has no subsidiary.