BMB Music & Magnetics Ltd

BMB Music & Magnetics Ltd

Originally incorporated by Kalyan Neogi and Prabir Kumar Sarkar as Interra Exim Pvt Ltd in Jul.'91 BMB Music and Magnetics was acquired by K C Bokadia and was converted into a public limited company in Mar.'95.The company was engaged in trading activities till Dec.'94. It was trading in various cloth items such as suitings shirtings dress materials etc. The company acquired music rights for certain films for an amount aggregating to Rs 2 cr in Mar.'95. In consideration of this equity shares of the company have been issued at par.The company proposes to diversify into manufacturing of pre-recorded audio cassettes and compact discs by setting up an unit at Sitapura Jaipur with a capacity of 120 lac cassettes pa and 40 lac compact discs pa. It came out with a public issue of 2618000 equity shares of Rs 10 each for cash at a premium of Rs 25 per share aggregating Rs 916.44 lac in Dec.'95 to part-finance its diversification project.Compact disc manufacturing plant is being imported from Laybold Germany which will also provide complete technical assistance for manufacturing as a part of package for supply of plant.During the year 1998-99 the company decided to diversify into making of Software for T.V. Serials marketing of mega films and construction of multi complex theatre.