SUBHASH SILK MILLS Share price

The company was incorporated on November 6 1970 as a privatelimited company under the name of Subhash Silk Mills Private Limitedand subsequently on October 5 1994 it was converted into aPublic Limited company namely Subhash Silk Mills Limited (SSML).Subhash Silk Mills Private Ltd. was promoted by Mr.DharmpalMehra and Mr. Ved Prakash Mehra with an initial share cpaital of40 shares of Rs.100 each totalling Rs.4000 shared equallybetween the two aforementioned promoters. Mr.Dharampal MehraMr. Dev Prakash Mehra and Mr. Ved Prakash Mehra were the firstDirectors of the Company.In 1970 the company took over the business of Subhash Silk Mills apartnership firm which had been in business since 1949.In July 1973 with mutual consent and due to division in thefamily Mr. Dharampal Mehra and Mr. Dev Prakash Mehra resignedfrom the Board.Mr. Subhash Mehra present Managing Director of the company wsappointed as full-time Director on the Board of the company.The Company has faced only one labour strike in March 1978 due tounion rivalry and the factory was closed for 21 days.Given below is the build-up of share capital (nominal value) ofthe company from 31.03.1994 till after the Issue: Rs. in LacsIssued Subscribed & Paid-up on 31.03.94 100.00Bonues Issue out of Revaluation Reserve 162.00Bonus Issue out of Free Reserves 24.00Fresh Issue at premium of Rs.40 per share- Promoters 6.00- IDBI 26.00- Indian Public 106.00 424.00For impact of this expansion in capital on EPS and Book Valueplease refer to Note under "Justification of Premium".