Incorporated in Oct.'92 as a partnership firm by Devendra J. Jhunjhunwala and Sajjan K Choudhary, Natco Polyplast was converted into a public limited company in Jun.'94. The company manufactures and markets high-molecular HDPE blow moulded plastic containers of 100 ltr. It markets its products under the Natco brand name.
The company came out with a public issue in Dec.'94 to finance the expansion programme to manufacture plastic containers of 5 ltr, 35 ltr and 200 ltr involving the increase in the installed capacity from 600 tpa to 1782 tpa. HM HDPE containers are used for packaging of chemicals, dyestuff, bulk pharmaceuticals, explosives and petrochemicals. The company has its plant in Ahmedabad.
Reputed clients of the company include, Balmer Lawrie & Company, Hindustan Organic & Chemicals, Indian Photographic Company, American Dryfruits, Refnol Resins and Chemicals Pvt Ltd, etc.
During 1996-97, the company made an offer of 32,526,600 equity shares of Rs 10 each for cash at par aggregating Rs.325.66 lacs on right basis to the existing Equity shareholders in the ratio of 1:1 and public issue of 12,10,800 equity shares of Rs.10 each aggregating Rs.121.08 lacs. Both Right & Public issue were closed on 16th Aug'96.