RATNABHUMI DEVELOPERS LIM Share price

The Company was originally incorporated as ?Navratna C G Road Properties Private Limited? at Ahmedabad on July 27 2006 under the provisions of the Companies Act 1956 vide Certificate of Incorporation issued by the Registrar of Companies Gujarat Dadra and Nagar Haveli Ahmedabad. Subsequently the name of thecompany was changed to Ratnabhumi Developers Private Limited? on July 9 2009 and fresh Certificate of Incorporation consequent upon change of name was issued by the Registrar of Companies Gujarat Dadra and Nagar Haveli Ahmedabad.Consequently upon the conversion of theCompany into public limited company the name of theCompany was changed to ?Ratnabhumi Developers Limited? and fresh Certificate of Incorporation dated September 18 2017 was issued by the Registrar of Companies Gujarat Dadra and Nagar Haveli Ahmedabad. Mr. Pranav Shah Mr. Devang Shah and corporate promoter Navratna Organisers & Developers Pvt. Ltd. (Original Promoters) floated theCompany in the year 2006 with the object of acquiring land carrying out construction work developing and organizing of immovable properties etc. In the year 2006-07 theCompany took the unsecured loan of Rs. 3768.00 Lakhs from the parties belonging to original promoters and purchased piece and parcel of land at cost of Rs. 44.35 Crores (admeasuring area of 5017 square Meters) which is situated in prime location of Ahmedabad city at Panchvati Panch Rasta C.G. Road Ahmedabad. With the intention to commence the project namely ?Turquoise? on the said piece and parcel of land theprevious promoters Mr. Jitendra Shah and Mr. Mahendra Shah (Ratna Group) took over the company by acquiring 100% Equity Share holding along with all the assets and liabilities of company from original promoters in the beginning of the year 2009-10. Mr. Jitendra Shah and Mr. Mahendra Shah were appointed as Promoter-Executive Director of thecompany w.e.f. April 1 2009.During the period 2009-2012 theCompany completed the project namely Ratna - TURQUOISE? costing Rs. 65.63 Crores. For details of TURQUOISE project please refer the Competed project? herein after provided. During the period 2012-17 themain business activities were selling and marketing of thecommercial offices and shops constructed in theproject ?Turquoise?. Apart from selling and marketing of thecommercials offices and shops we have rented theshops offices and spaces in theProject Turquoise to corporate clients for their business commercials advertisement and installing network equipments.On October 1 2016 theprevious promoters Mr. Jitendra Shah and Mr. Mahendra Shah (Ratna Group) have handed over their business to their next generation i.e. Mr. Kaivan Shah and Mrs. Meghna Shah (Existing Promoters) by transferring 100% Equity Share holding along with all the assets and liabilities of company. Mr. Kaivan Shah and Mrs. Meghna Shah are appointed as Promoter Executive Directors of thecompany w.e.f. October 1 2016.Major EventsThe major events of the company since its incorporation in the particular year are as under2006-The Company was incorporated as Navratna C G Road Properties Private Limited2009-The Company was acquired by Mr. Jitendra Shah and Mr. Mahendra Shah from the original Promoters of the Company-The Company had started the Project "Ratna- TURQUOISE" in Ahmedabad2012-The Company had completed the Project "TURQUOISE" in Ahmedabad2016-The Company was taken over by theexisting Promoters i.e. Mr. Kaivan Shah and Mrs. Meghna Shah from thePrevious Promoters2017-The Company has entered in to Limited Liability Partnership Agreement with Rajul Projects LLP for developing project namely "RATNA ARTEMUS II"