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Appollo Stones Ltd.

BSE: 526517 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Appollo Stones Ltd
NSE 05:30 | 01 Jan Appollo Stones Ltd

Appollo Stones Ltd. (APPOLLOSTONES) - Company History

Appollo Stones (ASL) was incorporated on 28 Nov.'90 under the name Apollo Stoneage which was changed to Appollo Stoneage on 19 Apr.'91 and then to Appollo Stones on 16 Jul.'92. ASL commenced business on 1 Feb.'91.The company has been promoted by Aditya Kumar Dalmia who is the managing director. Raghu Raj is the chairman of the company.ASL came out with a public issue of 48.40 lac equity shares at par aggregating Rs 4.84 cr in May '94. The proceeds of the issue were utilised to part-finance a Rs 15.62-cr project of a 100% EOU for the manufacture of granite tiles and slabs with an installed capacity of 75000 sq mtr pa in Pratappur Madhya Pradesh. The company has entered into an agreement with Tiaraco Switzerland for the sale of its entire production.ASL's project envisages mechanical extraction of granite from mines and its export both in raw/semi-processed block form and in finished form as polished slabs (including table tops) and tiles. The 75000-sq-mtr-pa capacity produces slabs (65%) tiles (10%) and table tops (25%).