Reetech International Cargo & Courier Share Price

Reetech International Cargo Courier Limited was originally incorporated on December 18, 2008 as a Private Limited Company in the name of M R Agriculture Private Limited with Registrar of Companies. Further, the name of the Company was changed to Reetech International Cargo and Courier Private Limited and a fresh Certificate of Incorporation was issued by Registrar of Companies, Chhattisgarh. Subsequently, Company was converted from a Private Limited Company to Public Limited Company and name of the Company changed to Reetech International Cargo and Courier Limited on April 12, 2022. The Company is primarily engaged in the business of trading of minerals, mainly trading of coal. The Company started its operations in year 200910 by the joint efforts of Mr. Mahendra Ahuja and Ms. Roma Ahuja. Initially, they were engaged in the business of agriculture goods such as Rice Milling, Rice Sorting, Dal Milling, Dal Processing and Agriculture Products. The business of trading of Agriculture goods had been operated by themselves (Company). In year 2020, promoters commenced business of trading and supply of coal and within a short span of time, Reetech has emerged as one of the recognized suppliers of coal in the state of Chhattisgarh. The diversified product portfolio comprises coal from Indonesia, South Africa, Australian and India, among other origins. It supply products to the customers in various sectors i.e., Power, Steel, Rolling and other industries. An effective handling and transportation of the orders is facilitated through Road transportation and Railway. Presently, the Company is one of the recognised traders of Coal and perform its operations from Gangavaram and other ports.As far as products are concerned, the Company is currently importing the entire spectrum of South African coal that comprises 6000 NAR, 5500 NAR 4800 NAR, which is transported in multifarious vessels such as Supramax, Panamax, Babycape Capesize vessels. It is then stored in various locations including Gangavaram Port, Vizag Port. It imports the entire spectrum of Indonesian coal grades, extending from Low Calorific Value and Medium Calorific Value to High Calorific Value. It procure Indian coal through eauctions conducted by various subsidiaries of Coal India Limited like WCL, ECL, SECL, CCL, MCL, NCL and SCCL. The coal is procured with quality and quantity requirements of customers. Besides, the Company import US coal on Kandla port of GCV higher than 7000.The Company launched its Initial Public Offering of 11,14,800 Equity Shares of face value of Rs 10/ each by raising funds aggregating to Rs 11.6 Crore comprising a fresh issue of 5,97,000 equity shares aggregating to Rs 6.2 Cr and 5,17,200 equity shares aggregating to Rs 5.4 Cr through offer for sale in September, 2022.