Incorporated on 11 Apr.'91 as a public limited company, Sarda Papers (SPL) commenced business on 20 May '91. It was promoted by Chairman Pradeep Kumar Sarda. SPL came out with a public issue of 18.8 lac equity shares at par aggregating Rs 1.88 cr in Feb.'93. The proceeds of the issue were utilised to part-finance a Rs 4.92-cr project by setting up a manufacturing facility for coated papers -- art paper, chromo paper, art cards, etc -- with an installed capacity of 6000 tpa. The plant is located in the MIDC Industrial Area of Sinnar in the Nashik district. Coated paper finds application in calendars, catalogues, reports, magazines, cartons, labels, etc. SPL has imported a modern second-hand super calendering machine from Spain. The company has installed a chemical plant for manufacturing paper binders in-house which has resulted in a lower cost of production. It started marketing a premium product under the brand name Platinum which is well received in the market by the printing media and used by the leading and prominent magazines. In 1995-96, company commissioned additional production line to produce Coated/Lamited Paper of 3000 TPA. The total installed capacity of Coated Paper/Black till March 2001 was 9000 MT.