MKP Mobility Share price

The Company was first incorporated as a private limited Companyon 10.12.90 and converted in to a Public Limited Company on27.5.1992 under the Companies Act 1956. The Companyestablished facilities for manufacture of cotton yarn rangingfrom 6''s counts to 20''s counts by availing a term loan of Rs.145lacs from KSllDC and Rs.85 lakhs from KSFC. The project costwas then estimated at Rs.384 lakhs. The Company commencedcommercial operations from February 1993 and since then it hasbeen manufacturing cotton yarn of 6''s and 10''s counts. The mainbuyers are the textile mills located at Bhivandi Sholapur inMaharashtra and Erode Bhavani and Karur in Tamil Nadu.During the one year of operation the Company has identified abetter market potential for cotton yarn of 4''s to 6''s counts.Hence inorder to establish the additional facilities requiredfor the manufacture of these low counts cotton yarn the Companyhas proposed to make a public issue.MAIN OBJECTS OF THE COMPANYThe main objects of the company as set out in the Memorandum andArticles of Association of the Company are as follows:1. To carry on business of spinning (open-end & conventionalring) yarn manufacturing doubling blending reeling balingbundling packing weaving processing dyeing bleachingprinting mercers and textile industry and this includesmanufacturing processing dealing in exporting & importingproducts capable of being spun woven and processed from cottonwool silk man-made fibres and other artificial fibres.2. To manufacture import export and deal in textile goodssilk goods woollen goods and goods made of synthetic fibresuch as terene polyster etc. including readymade garments andto gin press pack or clean cotton wool hemp jute and othersubstitutes by steam or motor powers.3. To carry on the business of cultivation of commercial cropsto achieve the main objects mentioned above.