M P Agro Industries Share Price

With a prestigious large group companies in market, M. P. Agro Industries Limited, formerly known as M P Agro Fertilisers Limited has always been held as one of the premier companies to grace the industry. The Company was incorporated in December, 1975, which commenced its business from July, 1978. The Company was originally promoted by the M P State Agro Industries Development Corporation, Bhopal, and Dharamsi Morarji Chemicals. The Companys objects are to carry on in India or in any part of the world all kind of business relating to fertilizers, heavy chemicals and their byproducts. In Jun.93, the company came out with a rights issue (5:1) of 23.4 lac equity shares at par aggregating Rs 2.34 cr to finance the cost of additional machinery and building and to meet longterm working capital requirements. It produces NPK granulated mixtures in the fertiliser sector.In 19992000, the company issued 30 lakhs equity shares of Rs 10/ each on private placement basis to promoters and their associates for additional working capital requirement.Due to erosion in net worth of the Company, the Company had made reference to the Board for Industrial and Financial Reconstruction (BIFR) at New Delhi on 29.10.2001.In 2008, the Company received Rs. 8 Crore from Lapp India Pvt. Ltd., Bangalore, in part of Rs, 1.2 and Rs. 7 Crore as sale proceed on finalizing the Agreement for Sale of Dharuhera Industrial Land at Rewari, HP.