Noesis Industries Ltd

Noesis Industries Ltd

Media Video (MVL) was incorporated in Dec.'86. The company was promoted by Prem Adip Rishi. Prem Adip Rishi is the chairman and managing director of MVL. Other group companies are MVL Credit Holdings & Leasings Anukool Films Media Satellite & Telecoms etc. MVL came out with a public issue of 26.64 lac equity shares at a premium of Rs.5/- aggregating Rs.3.99 crores in March 1995 to part-finance the project cost of manufacturing plastic moulded components new range of TV games and emergency lights etc at a project cost of Rs.12.93 crores. The company is been engaged in the assembly and marketing of quality consumer electronic goods under the brand name Media. Its products are TV games and other related equipments like rechargeable emergency lights. MVL has a tie-up with Nintendo for marketing the former's products in India. During the year 1995-96 the company commenced commercial production of plastic moulded components.The company is at present importing the world's best known brands of toys from international giants in the toys's industryall across the globeand marketing these toys through a franchised chain of premium stores under the brand name TOYZ. With four stores already operational in the most prime locations of Delhi and work is going in full swing to open 6 more stores in the current financial year of 2001-02.The company has also chalked out plans to enter into manufacturing & marketing of Video & Audio products including VCD PlayersHome Theatre equipments.The company has decided to go for Rights Issue during January 2005 for the purpose of part funding of expansion of the existing activities and diversification into Colour Televisions and Microwave ovens.Hence the company to offer 15273500 equity shares of Rs.10/- each on rights basis to the existing shareholders of the company in the ratio of 1:1.