Mahalaxmi Rubtech Ltd Company Summary

Mahalaxmi Rubtech Limited (MRL) incorporated in September, 1991 in the State of Gujarat as a Public Limited Company and obtained Certificate for Commencement of Business. At present, the Company is engaged in manufacturing and marketing of products falling under the segment of Traditional Textiles and Polymer based Technical Textiles & Rubber. The Company was promoted by Mr.

Jeetmal Parekh in the industry and business of textile, chemicals, dyes and rubber industries. It mainly operates mainly in two broad areas: Traditional Textiles Division and Polymer Based Technical Textile Division. In 2005-06, Companys Project of Textile Weaving Division named as MAHEEKA TEXTECH has commenced the commercial activities.

The amalgamation of Mahalaxmi Fabric Mills Pvt. Ltd. (MFMPL) with Company was implemented and made effective from 01.04.2007.

Through the Scheme of Amalgamation, and in consideration of transfer and vesting of undertaking of MFMPL, the Company allotted 3646400 equity shares on 30.01.2009 to the shareholders of MFMPL as per the exchange ratio of 43 equity shares of the Company for every 1 equity share of MFMPL. i.e., 43:1.In FY 2024, pursuant to the Scheme of Arrangements between the Company, Mahalaxmi Fabric Mills Limited (MFML) and Globale Tessile Limited (GTL) and their respective Shareholders and Creditors, the Traditional Textiles Processing Division, located at Narol, Ahmedabad got demerged into the Company and Wind Power Division of the Company along with existing investment of the Company in its Wholly Owned Subsidiary Company namely Mahalaxmi Exports Private Limited was vested into Mahalaxmi Fabric Mills Limited. The Trading Textiles Division of the Company was demerged and vested into Globale Tessile Limited as a going concern basis and the Scheme became effective on 01st April, 2024.

In consideration of transfer of the Demerged Company, MFML and GTL have issued and allotted 1,06,20,275 new Equity Shares Capital of Rs 10 each, credited as fully paid-up, to the Shareholders of the Company on 19 April, 2024, in the ratio of 1 new Equity Share of MFML and GTL, for every 1 Equity Share in the Company.