Ashnoor Textile Mills Ltd

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ASHNOOR-RE •
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Ashnoor Textile Mills Ltd Company background

Founded in: 1984
Managing director: Suneel Kumar Gupta
Incorporated in January, 1984, Ashnoor Textile Mills Ltd (Formerly known Gupta Carpets Udyog Ltd) is promoted by Mr. Suneel Gupta. The Company operate production facilities at Amritsar, Agra, Mirzapur, Jaipur, Panipat and Srinagar. It is engaged in manufacture and export of Terry Towels to the US. It has one plant located at Gurgaon.The Company produce over 5400 tons of high quality towels annually. It provide a full range of towel products catered to the hospitality industry. The Company started its operations in the early 1990s and today they are one of the leading suppliers for medium to large size hotel chains. Theyre pioneers in white, colored, pool and kitchen towels. The Company went public in 1986 and issued equity capital worth Rs 88 lac. It was followed by a rights issue in 1989 in the ratio of 1:2 at a premium of Rs 4 per share. In Mar.92, the company came out with another rights issue. All these issues were made to expand its activities.Again, in Jul.93, the company came out with a rights issue of 35.85 lac equity shares at a premium of Rs 35, aggregating Rs 16.13 cr, to set up a new industrial unit (100% EOU) to manufacture terry towels, towelling materials, madeups, bath robes, jerseys, etc.Thereafter, the Company diversified into cotton spinning and weaving of fabrics and bathroom mats by installing a composite plant with a spinning capacity of 1800 tpa of fabric weaving with a capacity of 15 lac sq mtr pa in Punjab, a major cottongrowing area.
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