Sybly Industries Ltd

Incorporated as a Private Limited Company in May 88, Sybly Industries Ltd formerly known as Sybly Spinning Mills was promoted by Satya Prakash Mittal, Mahesh Chand Mittal and Umesh Kumar Mittal. It became a Public Limited Company in May 95. Its manufacturing units are located in Ghaziabad district of Uttar Pradesh. The Company is engaged in manufacturing trading of yarn fabrics.The company started with the manufacture of merchandised cotton yarn with an installed capacity of 240 TPA. Commercial production commenced in Oct.89. In 199192, first expansion was carried out to enhance the installed capacity to 660 TPA.A project to manufacture cord yarn with a capacity of 660 TPA was undertaken by the company in 199495. Commercial production of cord yarn commenced in Mar.95.In 199596, the company expanded its activities by going in for backward integration to manufacture cotton yarn for captive consumption. It came out with a public issue in Dec.95, to partfinance the project. During 199697, it expanded its capacity by 3024 spindles to 8424 spindles.The company has decided to diversify into manufacturing of polyester yarn instead of cotton yarn.M/s. Logictex Fabrics Pvt. Ltd. (Formerly Sybly Fabrics Pvt. Ltd.) became wholly owned subsidiary of the Company in 2006. During 200910, M/s. Vartex Fabrics Pvt. Ltd. was ceased to be subsidiary of the Company since February 2010 and M/s. Sybly International FZE, Sharjah (UAE) became subsidiary of the Company w.e.f. 30.12.2009. In 201718, the Financial Assets and Liabilities of Company was transferred to Space Incubatrics Technologies Limited through Scheme of Arrangement effective on March 03, 2018. . As a result of the said Scheme, paid up share capital was increased by 85%. The existing Shareholder of the Company were allotted shares of equivalent value by Space Incubatrics Technologies Limited.