Ramasigns Industries Ltd

History of Ramasigns Industries Ltd

Ramasigns Industries Limited was originally incorporated on March 31, 1981 as a Private Limited Company in the name of 'Ram Decorative and Industrial Laminates Limited'. The Company got converted into a Public Limited Company and was renamed as 'Rammaica India Limited' on July 13, 1992 and again from 'Rammaica India Limited' to 'Ramasigns Industries Limited' w.e.f. 23rd November, 2017. Ramasigns Industries is a trading company, which deals in Signage and Digital Media consumables. Its customers/product users include digital and Flex printers, print service providers, printing & advertising agencies, corporate houses, etc. Over the years, the Company developed various strategies in providing innovative products to enhance the corporate advertising and marketing. It presently works in the field of printing consumables items like flex, vinyl wallpapers, sun board, sun pack etc. In 1957, the company started trading in laminates, plywood and other allied materials under the name Ram & Company. The company manufactures and markets decorative and industrial laminates under the Rammaica, Ramopal and Ramlam brands. A group company, Ramply (India), manufactures and markets plywood, black boards and flush doors under the Ramply, Ramboard and Ramdoor brands. Rammaica (India) tapped the capital market in Feb.'94 to part-finance its diversification-cum-expansion. The company made a breakthrough in the international market when it started exporting decorative laminates. The I ...ndian Council For Small And Medium Exporters awarded the company with the Niryat Rattan Award and a gold medal in Feb.'95 for productivity, innovation and export performance. The company implemented a project to manufacture industrial laminates and increase capacity of decorative laminates. It set up cargo and courier division which were discontinued in 1995-96 due to uneconomical operation. The subsidiary companies are Maharastra Laminates Ltd and Hanuman Laminates (India) Ltd. The Company invested during the financial year 2001-02. Rs.19.90 lacs in Maharashtra Laminates Ltd. (MLL) and Rs.19.90 lacs in Hanuman Laminates (India) Pvt. Ltd. acquiring 19,900 Equity shares of Rs.100/- each fully paid of both the companies, due to which they become subsidiary company during the period 2004. The Company changed the main object clause to dealing in Flex, Vinyl, other Printing related media, etc. in 2015-16. During year 2016-17, M/s Artlink Vintrade Limited, Promoter of the Company, agreed to sell their entire equity stake in the Company to Mr. Pankaj Hashukh Jobalia and Mr. Jitendra Sharma, Directors' of the Company by way of a Share Purchase Agreement dated 27th December, 2016. Consequent to the same, Mr. Pankaj Hasmukh Jobalia and Mr. Jitendra Sharma made an open offer. After the receipt of SEBI's approval, the open offer completed on 11th May, 2017. After the said Open Offer, Mr. Pankaj Hasmukh Jobalia and Mr. Jitendra Sharma held 34,44,179 and 11,47,526 Equity Shares respectively aggregating 48.20% of the Equity Capital of the Company. Accordingly, Artlink Vintrande Limited ceased to be promoter of the Company and Mr. Pankaj Hasmukh Jobalia and Mr. Jitendra Sharma became new Promoters of the Company. The Company issued and allotted 10,10,000 Equity Shares of Rs. 10 each upon the conversion of share warrants, held by the Promoters of Company on 25th March, 2019.