Incorporated in Mar.'93 as a private limited company, Heritage Packaging was converted into a public limited company in Feb.'95. It was promoted by the C J Group, Nadiad.
The company has manufacturing facilities at Rakanpur (Mehsana district), Gujarat, for the manufacture of flexible packaging materials with an installed capacity of 1200 tpa. Commercial production at this unit commenced in Mar.'94. Facilities at its unit include rotogravure printing, lamination and pouch making.
The company came out with a public issue of 15 lac equity shares aggregating Rs 150 lac, in May '95. The issue was to part-finance its expansion and backward integration programme involving the enhancement of its installed capacity from 1200 tpa to 1800 tpa and creating facilities for the production facilities for extrusion of poly films and rotogravure cylinders.
The company's principal business was changed to Hire Purchase,Leasing and Financing after the amalgamation of 'Ceejay Finance Ltd'.The Capital Adequacy Ratio as on March 2001 was 34.40% as against the stipulated RBI's 15%.