Ventura Textiles Share Price

Ventura Textiles Limited was formerly incorporated as Vijay Tubes Cones Private Limited as a Private Limited Company in November, 1970. The name of the Company was changed to VTC Industries Limited in May, 1994 upon the conversion of status to Public Limited Company and thereafter was changed to Ventura Textiles Corporation Limited and further to Ventura Textiles Limited in January, 2005.The Company is presently engaged mainly in the business of manufacturing of Textiles consisting of Fabric and Yarn.The company came out with its initial public offering in Oct.94, aggregating Rs 1.13 Cr to partfinance the capital by setting up a 100% exportoriented textile weaving unit. The total cost of the project was Rs 9.3 cr. The company entered into a marketing tieup with Kidarnath Kishanchand (a division of JCT) for its entire production.The company has acquired land near Nashik for backward integration and also to add additional weaving capacity. It also have its own power generation facilities.The company went in for an expansion and backward integration in 199596. It also installed 960 OE rotors with back process machinery alongwith 32 wider width Sulzer projectile looms. The project was part financed through a rights issue. In 1996 the company commenced its direct exports. The company also initiated its marketing efforts with diversified productline and also into other markets viz. Srilanka, Bangladesh, etc.During 200203 the company has shifted its Satpur operation to Gonde unit. This is in line with rehabilitation scheme filed with BIFR. During March,2003 both IDBI and SBI has sanctioned financial restructuring under CDR mechanism.The Honble Board for Industrial Financing and Reconstruction (BIFR) vide its Order dated 24th June, 2013, for reviving the Company, approved the derating of the Equity Share Capital of the Company by 75% and permitted preferential allotment of Equity Shares of the Company to the extent of Rs.14 Crores.The Companys modernization plan of its OpenEnd Spinning division with the installation of Stateoftheart machines to produce high quality openend yarns to meet the demand for Industrial Fabric/Denim manufacturing commenced l production on Job Work basis from December 2021 onwards.The Company sold out the Land, Plant Machinery and assets of the Company on April 27, 2023.