Incorporated on 30 Jun.'94 as a public limited company, Pushpsons Industries received the certificate of commencement of business on 27 Jul.'94. It was promoted by M R Jain, Pankaj Jain and Dinesh Jain.
The company set up a 100% EOU for the manufacture of cotton grey sheeting, with an installed capacity of 22.36 lac mtr pa. The plant is located at Noida, Uttar Pradesh. It came out with a public issue in Jan.'96 to part-finance the project.
The company is engaged in the manufacture of cotton fabrics which are woven from cotton yarn. The company being an EOU, would be selling its products in the international markets.
During 1995-96, the company has implemented 100% EoU of Cotton Grey Fabric/Denim Fabric for the manufacture of 22.36 lacs Mtrs.The cost of the project is financed by the Bank of Tokyo-Mitsubishi Ltd, and Public Issue of Equity Share. The company haa made public issue aggregating to Rs. 268 lacs in the month of January, 1996.
During 1997-98, the company has received permission to manufacture Viscose/Polyster/Acrylic/Nylon and Blended Cloth in addition to woven fabrics of cotton from the Goverment of India. The company installed one machine of four-colours design pattern costing Rs. 15.00 lacs approximately for the production of two colours and four colours Strech Denim (Lycra).
The company has received permission for manufacture and export of made ups including garments, cushion covers, bed covers, curtains, table covers, bath mats, rugs, floor coverings, etc. and has already initiated exploring overseas market. As the textile industry was depressed world-wide the company has decided to debond and convert its existing 100% EOU unit under EOU Scheme into DTA unit under EPCG scheme.