Shubham Polyspin Ltd Share Price

History of Shubham Polyspin Ltd

Shubham Polyspin Limited was incorporated as a Private Limited Company with the name 'Shubham Polyspin Private Limited' at Ahmedabad on March 12, 2012. Consequent upon the conversion of the Company from Private Limited Company to Public Limited Company, the name was changed to 'Shubham Polyspin Limited' on July 24, 2018. The Principal Business Activity of the Company is Manufacturing of polyproplane Yarn and Sale of service (Job Work). One of the Promoter-Director Mr. Anil Somani started a company called Shubham Tex-O-Pack Private Limited which is engaged in HDPE/PP woven polybags. In the year 2010, Mr. Ankit Somani son of Mr. Anil Somani, joined the business of his father to gain the experience and understand the intricacy of said industry. After gaining an experience of 3 years in pro ...duction, planning and sales, it was decided to diversify the products and enter into a more futuristic product having applications in various upcoming and existing industries. Mr. Ankit Somani promoter director of the company inspired from his father decided to start a new business which can be run on autonomous mode. In the year 2013, the promoters zeroed on Spin Draw Wind Line Machinery from Lohia Corp having monthly capacity of 50 MT. Spin-Draw-Wind Lines for Polypropylene Multifilament Yarn offer compact and flexible solutions for varied applications. The machine is capable of producing medium to high tenacity air intermingled yarns for sewing threads, webbings & slings, braids & ropes and a variety of technical textiles. With deep penetration in local markets and looking forward to increase its export markets the Promoter envisioned to set up an ultra modern production faciltiy. For this production facility land was acquired at Village Borisana (Taluka-Kadi) in May 2015 admeasuring area of 5009 sq. mtrs. The land purchased was later developed by constructing a Factory Shed admeasuring approximated 2800.00 sq.mtrs. along with Staff Quarters and Administrative Building. The promoters further decided to add 2 more Spin Draw Line Machines from Lohia Corp Ltd, hence increasing the total capacity of the company to 200 MT per month. Further old plants from rented premises were shifted to the new production site and all the 4 plants were fully operational by August 2016 at Vadsar and Borisana villages. The Company also manufactures on Job Work basis and get its products manufactured on Job Work basis. With a monthly production capacity of 200 MT, the promoters also focused to penetrate in countries like Belgium, Uganda, Zimbabwe, Africa, Poland, Italy, Turkey, Qatar, Sri Lanka, Bangladesh, Tanzania, Nigeria, Madagascar and Kenya. The products of the company were well received in export markets and recently the company purchased 5th machine having installed capacity of 50 MT/per month. The said machine was fully operational from July, 2018 and currently the total combined capacity of the company is 250 MT/per month. In October 2018, the Company came up with a Public Issue of 1500000 Equity Shares by raising funds from public through equity aggregating to Rs 6 Crore.