Gujarat Hy-Spin Ltd Company Summary

Gujarat Hy-Spin Ltd Summary

Gujarat Hy-Spin Limited was incorporated as a Private Limited Company with the name Gujarat Hy-Spin Private Limited on February 01, 2011. Subsequently the Company was converted into a Public Limited Company and Company name was changed to Gujarat Hy-Spin Limited on August 05, 2016. Presently, the Company is engaged in the business of manufacturing and processing of yarn.Maganbhai Parvadiya and Chandulal Parvadia are Promoters of the Company and were allotted shares on February 1, 2011. They are in the field of cotton ginning and pressing since last two decades. The Promoters were cotton farmers and started activity of cotton ginning, pressing and oil in a partnership firm. The Company started with trading (including trading of products jobworked) of Cotton Bales, Cotton Seeds and Wash Oil and has now graduated to in manufacturing of cotton yarns mainly in domestic market and third party exports to some extent.The Company started commercial production for yarn manufacturing in 2013. The Company came with IPO, through Offer for Sale, of 44,50,000 Equity Shares BY raising capital aggregating Rs 4.45 Crore in January, 2018.The Company sells cotton yarns to the traders who further sell it to other Industrial units for weaving and other purposes. The company also sells directly to Industrial units for weaving purpose. The manufacturing plant is spread 15381.28 square meters such as Blow room, Humidification facility, Contamination sorter, Link Conner etc. The Company also has test laboratory of Uster where the cotton yarns are tested.