Nachmo Knitex was incorporated on 23 Apr.'81 as Nachmo Polyplast and subsequently changed to the present name. It was promoted by N C Shah, Rajnikant F Shah and Ashish V Shah. The company is engaged in marketing humidification plants, air-conditioning systems and cell type air washer plants. It is also engaged in the manufacture of melamine crockery, polyester filament and sized yarn and knitted fabric. The company came out with a public issue at a premium of Rs 5 in Dec.'93 to finance the cost of setting up a 100% EOU for the manufacture of unbleached plain stitch cotton knitted fabric with an installed capacity of 898 tpa. During 1997-98, the company made Rights Issue of 29,69,670 Equity Shares in ratio of 3 equity shares for every 10 equity shares held at a premium of Rs 10/- per share, and had set up a dye house for circular knit fabrics. During the year under review i.e. 1998-99, the company has bagged export orders from garment manufacturers based in U.K. and South Asian countries like Bangladesh. The company has also diversified its activity to non-textile market and has received orders for air ventilation plant/air conditioning for wedding hall/auditoriums/hospitals, etc.