Incorporated as a public limited company in Jun.'94, South Asian Mushrooms is promoted by R K Shrivastava, N K Shrivastava and Vipul M Asher. The company is setting up a 100% EOU for cultivation of white canned button mushrooms with an installed capacity of 1560 tpa in technical and financial collaboration with Macon Agri, Northern Ireland. The unit is being set up at Shyampur, Madhya Pradesh. Macon Agri has also agreed to buy-back the entire production of canned mushrooms of the company for a period of 10 years. The company came out with a public issue of 35,76,600 equity shares of Rs 10 each for cash at par aggregating Rs 357.66 lac, to part-finance its project.