Incorporated as a public limited company in Nov.'91, Hanjer Fibres has received the certificate for commencement of business in Jan.'92. It was promoted by Zakaria Hazi Latif Aghadi and Irfan Furniturewalla.
The company set up an open-end spinning unit for the manufacture of coarse cotton yarn at Motta Borsora (Surat district), Gujarat, with an aggregate capacity of 504 rotors. Commercial production commenced in Apr.'93.
In Oct.'93, the company came out with a public issue of 34,00,000 equity shares of Rs.10/- each for cash at par aggregating Rs.3.40 crores. The proceeds were utilised by expanding the capacities of rotors to 1152 from the existing 504.
During 2002 the company has completed the Modernisation cum Expansion under TUFS and production has commenced. It has also undertaken the implementation of Ring Spinning Project under Phase III.