Innovative Tyres & Tubes Ltd Share Price INNOVATIVE
Innovative Tyres & Tubes Limited was originally incorporated as a public limited company on 28th November 1995 at Mumbai, Maharashtra. The certificate of Commencement of Business was granted by Registrar of Companies, Maharashtra on February 08, 1996. The Company changed its registered office Maharashtra to Gujarat on April 27, 2016. Mukesh Desai and Pradeep Kothari are the Promoters of the Company.
Chandravadan Shah, Narendra Shah, Kalpesh Shah, Ashvinkumar Mehta, Sanjay Mankad, Minakshi Mankad, Girish Patel and Bipin Mankad were the initial subscribers of the Company. Mukesh Desai and Pradeep Kothari acquired shares through purchase of shares in various tranches from shareholders and also through preferential allotment.
Innovative Tyres is a tyre and tube manufacturing Company, manufacturing & marketing products under our flagship brand Innovative. The Company started its journey with the acquisition of a greenfield project situated at Halol (Originally that Company wras known as Super Strong Polymers Private Limited) in auction from Gujarat State Financial Corporation and State Bank of Bikaner & Jaipur vide agreement dated December 15. 1995. Thereafter, the company revamped the closed company to their tube manufacturing facility at this property and started manufacturing of tubes in the year 1996. Within a short time after their inception, it was able to successfully get its facility approved by CEAT Limited for carrying out job work activities for them.
As a result of strong business relationship with CEAT Limited, taking the relationship to the next level wre set up a greenfield tyre project as a major outsourcing unit in 2003 in a close vicinity of the existing first tube plant in Halol only. The company has an installed production capacity of 12,000 MT of tubes and tyres. Taking a leaf of learning of tyre manufacturing with two-three-wheeler tyre segment, the company graduated over a period of 15 years into manufacturing of practically all segments of Nylon Tyres.