Incorporated in 1989 as Bhagat Textiles Pvt Ltd and converted into a public limited company in Mar.'94, Karnavati Spinners got its present name in Jun.'94. It is promoted by Akhilesh R Goyal, Sandip R Goyal, Rajesh B Jain and Suresh B Jain. The company is engaged in the manufacture of coarse count cotton yarn in the Ahmedabad district of Gujarat, with an installed capacity of 1350 mtpa. Commercial production commenced in Sep.'91. The company implemented an expansion project to increase its installed capacity to 4200 mtpa. The project was part financed through a public issue in Jul.'95.