RENAISSANCE GLOBAL Share price

We were originally incorporated on December 04 1989 as Mayur Gem and Jewellery Export Private Limited and were engagedin the business and manufacture of jewellery. Mr. Chandrakant Dhanak and Mrs. Darshana Dhanak were the original promotersof our Company. In the year 1995 Mr. Niranjan A. Shah and family acquired the entire shareholding of Mayur Gem and Jewellery Export Private Limited.With effect from April 16 1997 our Company?s name was changedfrom Mayur Gem & Jewellery Export Private Limited to RinaissanceGem & Jewellery Export Private Limited.Merger of Sur Style Jewellery Private Limited with Renaissance Jewellery LimitedWith effect from April 1 1998 effective date the business of Sur Style Jewellery Private Limited Sur Style engaged inmanufacture and export of studded jewellery was merged into our Company under the provisions of Section 395(4A) of theCompanies Act 1956. The Scheme of Merger was registered with theRegistrar of Companies Mumbai at Maharashtra onJuly 1 1999. Vide the said scheme all assets and liabilities of SurStyle were taken over by our Company. Pursuant to thesame our Company issued three Equity Shares of Rs. 100/each to the shareholders of Sur Style for every two Equity Sharesof Rs. 100/- each held by them in Sur Style. The paid-up share capital of Sur Style was Rs.4996000 divided into 49960Equity Shares of Rs 100 each consequently 74940 Equity Shares wereissued by our Company to the shareholders of SurStyle. Further as per the requirements of Section 395(4A) of the Companies Act1956 our application for striking off the nameof Sur Style under section 560 of the Companies Act was acceptedand with effect from April 20 2006 the name of Sur Style has been struck off from the Register of Companies.With effect from July 1 2000 our Company became a deemed publiccompany under section 43A (1A) of the Companies Act1956 on achieving average annual turnover of more than 25 crores for the last 3 consecutive preceding years. Pursuant to theCompanies (Amendment) Act 2000 our Company made anapplication vide its letter dated February 21 2001 to the Registrarof Companies Maharashtra at Mumbai for conversion from deemedpublic company to private company under section 43A(2A)of the Act. Our Company?s name was thereafter changed to Renaissance Jewellery Private Limited with effect from April 52002.On December 20 2005 our Company was converted to a publiclimited company from private limited company and our namewas changed to Renaissance Jewellery Limited.In September 2007 Renaissance Jewelry New York Inc (RJNY) a venture promoted by our Promoters which has beenincorporated under the US laws issued 100 fully paid up andnon-assessable shares of RJNY out of its total authorized issueof 200 shares without par value common stock. The total consideration for the purchase of common stock was $10000 at aprice of $ 100/- per share of the Corporation. By virtue of this allotment of common stock of RJNY RJNY has become our100% foreign subsidiary with effect from September 12 2007.In July 2007 we also commenced exports of loose diamondsfrom our facility situated at Opera House Mumbai.The main objects of our Company are as follows:To carry on the business of Jewellery ornamentalists and to manufacturebuy sell import export or otherwise trade anddeal in jewellery ornament artifacts china curious antiquesidols and other obiects of every type whatsoever madefrom or composed either wholly or in part of gold silver platinumbrass copper diamonds and other precious nonprecioussemi-precious metals and stones.Our Company had filed its DRHP document on one occasionwith SEBI and the Stock Exchanges. We had initially filed ourDraft Red Herring Prospectus with SEBI BSE and NSE on April 28 2006 for a public issue of 3510000 Equity Shares of Rs.10/- each. NSE and BSE vide their letters dated June 22 2006 and June 5 2006 respectively had given in-principle approvalfor listing. SEBI had issued its observation vide its letter No.CFD/DIL/NB/JAK/72591/2006 dated July 27 2006. However onaccount of unfavourable market conditions we did not proceed with the Issue.Year Description1989 Incorporated as Mayur Gem and Jewellery Export Private Limited1995 Current Management acquired Mayur Gem and Jewellery Export PrivateLimited on a going concern basis.1999 Merger Of Sur Style Jewellery Private Limited with our Company with effect from April 1 19982000 Purchased the facility and commenced business at Plot 36A-37 measuring 40000 sq.ft. from Saha Electronics.2001 Received Export Performance Award from SEEPZ-SEZ as SEEPZ-SEZ Star 2000-2001 for export of over Rs 75 crores from the zone in the Gem And Jewellery Sector during 20012002 Certification of the facility(36A & 37) by Wal-Mart and commenced business with Wal-Mart2004 Commenced business with Zales Corporation-the largest speciality jewellery chain in North America2005 Received ?International Supplier of the Year? award from Wal-Mart for the year 2004 Set-up a 100% EOU in Bhavnagar Gujarat in a facility measuring 64000 sq.ft. and commenced business Received Business Excellence Model (BEM) Certification as a Certified Diamond Jewellery Manufacturer from Rio Tinto Diamonds- An Australian mining company Conversion of our Company from private to public limited.2006 Renaissance Retail Venture Private Limited and Verigold Fine Jewellery Private Limited became ourCompany?s wholly-owned subsidiaries. Certificate of Merit by GJEPC for being the second largest exporter of studded precious metal jewellery from SEEPZ-SEZ for the year 2005-062007 Recognition as Three Star Export House Setting up of Renaissance Jewelry New York Inc a 100% subsidiary of our Company.