Our Company was incorporated as M.S. Finvest Limited under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated August 24, 1994 issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh with registration number 14976. The name of our Company was changed to Amit Udyog Limited vide a fresh Certificate of Incorporation dated April 19, 1999. Further the name of our Company was changed to its present name “Mukesh Udyog Limited” vide a fresh certificate of incorporation dated December 14, 2001. The Corporate Identification Number of our Company is L65921PB1994PLC14976.
Our Company is promoted by Mr. Krishan Chand Gupta, Mr. Pardeep Gupta and Mr. Sandeep Gupta. The Company came out with an Initial Public Issue of 24,37,500 Equity Shares of Rs.10 each at par in May 1995 and raised Rs. 243.75 lacs. The object of the issue was to carry on financial consultancy and other investment activities. The shares of our Company were listed on the Delhi and Ludhiana Stock Exchange pursuant to the public issue. The Company was Issued Certificate of Registration on March, 5, 1998 by Reserve Bank of India to carry on the business of Non-Banking Financial Company (loan and investment activities). The financial consultancy and investment activities provided very low return due to volatile market conditions, hence later on in March 1999 the Company changed its object to carry on manufacturing activities as main object and accordingly it changed the name to Amit Udyog Limited. During January 2008 we applied for cancellation of its NBFC Registration to RBI and got the approval for the same from RBI vide their letter dated May 26, 2008.
The name of Amit Udyog ltd was further changed to its existing name Mukesh Udyog Limited in December 2001 to reflect the fact that it belongs to Mukesh groups of companies of Ludhiana. We have 302 shareholders as on date.
The main business of the company is to manufacture and export all kinds of yarns including Acrylic. Polyester, Nylon, Viscose and their blends. The Company has an installed capacity of 30,000 spindles as on the date of filing of this Draft Red Herring Prospectus
Mukesh Udyog was earlier Listed at Delhi Stock Exchange and Ludhiana Stock Exchange ( Both , now , closed )