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Lahoti Overseas was incorporated on 24 Apr.'95 as a private limited company and was converted into a public limited company on 26 Apr.'95. The company was promoted by Umesh Lahoti to take over the business of the erstwhile partnership firm Lahoti Exports (a merchant exporter). Lahoti Exports was set up in 1990 to export cotton yarn. The erstwhile partnership firm was exporting cotton yarn to the far-east and middle-east countries like Honkong, South Korea, Srilanka, UAE, etc. In Apr.'96, the company came out with a public issue of 20 lac equity shares of Rs 10 each for cash at a premium of Rs 15 per share aggregating Rs 500 lac, to part-finance the acquisition of Lahoti Exports. Company has bagged the prestigious Award given by TEXPROCIL (The Cotton Textile Export Promotion Council of Govt. of India.) of Gold Trophy for outstanding Export performance in Yarn & Silver Trophy for outstanding export performance in yarn amongst non-quota export for the year 1998-99. Company having its subsidiary company - Goldstate Far East Ltd, Hongkong. Company has invested an amount of HK$38,77,240 towards the share capital. |
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