Incorporated in Nov.'93, Anik Ship Breaking Industries was promoted by A B Lakhani, P P Bhuta and their associates.
In 1993-94, the company was carrying on only scrap trading activity. It commenced ship breaking activities in Mar.'95. It proposes to carry out ship breaking of various ocean-going carriers (crude carriers, general cargo carriers, very large crude carriers and ultra large crude carriers) and re-roll the mild steel plates to be obtained from ship breaking. It also proposes to set up an oxygen and LPG bottling plant, to be used for captive consumption. The ship breaking unit is being set up at Sosiya, Gujarat, and the re-rolling mill and the oxygen/LPG bottling plant at Sihor (Bhavnagar), Gujarat.
To part-finance the above projects, the company came out with a public issue of 1,09,31,100 equity shares of Rs 10 each for cash at par aggregating Rs 1093.11 lac, in Feb.'96.