Subhash Silk Mills Ltd Share Price

(530231)

Subhash Silk Mills (SSML) was founded on 6 Nov. 1970 and led by chairman Ved Prakash Mehra, and managing director Subhash Mehra. Part of the Mehra group, SSML mainly focuses on the production of fabrics, dress materials, jacquards, shirts, and ties under the brand name Cameo. They have expanded grey cloth manufacturing facilities, shifted their existing factory from Andheri Mumbai, and offered a voluntary retirement scheme VRS to reduce the workforce and wage cost per metre. These activities required a total fund requirement of Rs 15.40 cr, which was obtained through a Rs 6.6cr public issue with a premium of Rs 40 in March 1995. SSML's exports its products to countries, such as Saudi Arabia, mainly in the Gulf. Unfortunately, SSML had to declare a lockout from the 9th March 1998, and the lockout has remained in effect until now. As a result, a reference was made to the BIFR, and the proceedings were completed.

Chairperson Name: Sumeet S Mehra