Incorporated as a public limited company in Sep.'92, Shubham Granites was originally promoted by G P Somani and was taken over by Vishnu Prakash Kabra and Associates.
The company is in the process of setting up a 100% EOU in the Vadodara district for the manufacture of polished granite slabs with an installed capacity of 1.2 lac sq mt pa. The company has been granted Temporary Pioneer Status, being the first 100% EOU in Gujarat by the Government of Gujarat in 1993.
The company has entered into an agreement with Breton, Italy, for supply of machinery and providing technical know-how. It also has entered into a 100% buy-back arrangement with Sigep, Italy.
In Jan.'96, the company issued 37,20,000 equity shares for the public, aggregating Rs 372 lac, to part-finance the above project.