Incorporated as a private limited company in Sep.'89, Alka Diamond Industries was converted into a public limited company in Oct.'94. The company was promoted by Gopal M Verma and K S Verma. The company is engaged in the export of polished diamonds. Other than exports, it also trades in diamond studded jewellery. It buys raw materials from Antwerp, Belgium. These rough diamonds are then cut and polished in India, before being exported. It has a processing capacity of 18,000 carats pa. The company exports polished diamonds to Japan, US, Hongkong, Thailand, etc. Its manufacturing facilities are situated at Vasai, Thane district. In 1995-96, the company envisaged an expansion programme to increase the existing capacity to 63,000 carats pa. The project was part financed through a public issue made by the company in Jan.'96. During the year 1998-99, the Company sold its manufacturing unit for consolidation of the operations.