Sportking India was incorporated on 15 Feb.'89 by Raj Kumar Avasthi and his family members. It was engaged in the business of hosiery knitwears and readymade garments at New Delhi. Due to shortage of skilled and semi-skilled labour in hosiery knitwear and readymade garments the company suspended this activities in 1993-94.The company diversified its activities by installation of 6520 spindles at Meharban (Ludhiana district) Punjab to manufacture acrylic yarn which commenced commercial production on 3 Dec.'93.In 1995 the company embarked on an expansion programme to set up a new spinning unit with a complement of 12000 spindles in the first phase out of the envisaged capacity of 25000 spindles for the manufacture of acrylic / synthetic yarn at Kanech Punjab. In order to part-finance the project it came out with a public issue in Dec.'95.