RTCL Ltd., formerly known as Raghunath Tobacco Company Ltd. was incorporated as a limited company in Mar.'94. It was promoted by Om Prakash Agarwal, Jai Prakash Agarwal and Sri Prakash Agarwal.
The company is setting up an unit to manufacture cigarettes at Chaudharipur, Uttar Pradesh, with an installed capacity of 2376 mln cigarettes pa. It also proposes to set up a primary making department to reduce the cost of production by processing raw tobacco in-house and also to ensure quality.
The company came out with a public issue of 38,80,000 equity shares of Rs 10 each for cash at par aggregating Rs 388 lac, to part-finance the setting up of the plant; to meet the deferred revenue expenses envisaged on advertisement and publicity for marketing the product and to meet the working capital margin money requirements.
Company has started commercial production and selling under the Brand name as `CURRENT' namely 69 mm Filtered Cigarettes and 59 mm Non Filtered Cigarettes. Company propose to introduce 69 mm Filtered Cigaretteds under the Brand Name `PRESTIGE' and `SIR'.
During the year 1997-98, the Company made a investment in 356000 Equity Shares of Rs.10 each of Raghunath Securities and Credit Limited, which according to Section 4 of the Companies Act, 1956 has become a subsidiary of the Company as the Company holds 72.20% of the subsidiary Company's Share Capital.