Promoted by SMS Udyog, Niryat Sam Apparels (NSAL) was incorporated in Jan.'94 as a public limited company. The company implemented a project for manufacturing readymade woollen (blended) suits, jackets and trousers for men, in technical collaboration with Samsumg Corporation, South Korea. The company has to export at least 75% production, as per a condition attached to its industrial license. The existing set up of Niryat Enterprises, a group concern and a government-recognised Export House, are available to the company. NSAL came out with a public issue of 34,50,000 equity shares of Rs 10 each for cash at par aggregating Rs 345 lac in Mar.'96, to part-finance the setting up of a plant at Noida (Ghaziabad district), Uttar Pradesh. In 1999-2000, the company has issued 10,00,000 8% Cumulative Redeemable Preference Shares for cash at par aggregating to Rs 10 cr.