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Rainbow Breweries Ltd.

BSE: 507520 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Rainbow Breweries Ltd
NSE 05:30 | 01 Jan Rainbow Breweries Ltd

Rainbow Breweries Ltd. (RAINBOWBREW) - Company History

Rainbow Breweries Ltd (RBL) was incorporated on 4th Sept.'70 in the name of Golden Hill Breweries Ltd. The name of the company was changed to Anand Energies Ltd with effect from 23rd Jul.'80 and was again changed back to Golden Hill Breweries Ltd with effect from 17th Jan.'92. It was promoted by R K Poddar later it was taken over by Dharamchand Jain & Associates in Mar'92.RBL became a subsidary of Auto Distributors Ltd with effect from 10th Dec.'81 on the understanding that the holding company would make available funds to the subsidary company to implement the brewery project. Auto Distributors Ltd was based in Calcutta and desired to get the registered office of its subsidary (RBL) also transferred from Delhi to Calcutta to facilitate operations. However the same did not materialise and further on account of paucity of funds Auto Distributors Ltd transferred its shareholding in RBL and the latter ceased to be a subsidary of the former with effect from 18th May'92. The company has not been carrying out any activity since its incorporation. However with effect from 30th Mar.'93 the company has been marketing beer under its brand Golden Hill Lager Beer which is presently being manufactured by Haryana Breweries Ltd.During Jul.'94 RBL came out with an public issue of 5858700 equity share of Rs 10/- each for cash at par aggregating to Rs 5.86 crores to set up a plant to manufacture beer in Shiwar Village Sawai Madhopur Dist. in Rajasthan with a capacity of 45000 HL p.a. Stirlization of each vessels pipe lines and every fitting is under process of completion.The company has started commercial brewing on 15th March 1999 for the brand Golden Hill Lager Beer and Race Course Super Strong Beer and successfully launched the same in Rajasthan and Delhi.