| The Company was originally formed and registered as a partnership firm at Morbi, Gujarat under the Indian Partnership Act, 1932 in the name of M/S Vitco Vitrified pursuant to a Deed of Partnership/Co-parcenery dated May 05, 2008. M/S Vitco Vitrified was then converted into a Joint Stock Company under part IX of the Companies Act, 1956 under the name of Vitco Vitrified Private Limited vide Certificate of Incorporation dated May 08, 2008 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli bearing Corporate Identification Number U26914GJ2008PTC053838. Subsequently the name of company was changed to Lexus Granito (India) Private Limited and a fresh Certificate of Incorporation pursuant to change of name was issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli on June 26, 2010. Subsequently, The company was converted into Public Company pursuant to shareholders resolution passed at the Extraordinary General Meeting held on April 13, 2017 and name of company was changed to Lexus Granito (India) Limited pursuant to issuance of fresh Certificate of Incorporation dated April 28, 2017 by Registrar of Companies, Ahmedabad. The Corporate Identification Number of the company is U26914GJ2008PLC053838.
Nanubhai Kanjia, Prabhubhai Panara, Jayantilal Kasundra, Pravinbhai Kasundra, Mayurbhai Panara, Keshavjibhai Patel and Pankajbhai Marvania were the initial subscribers to the Memorandum of Association of the company. All the subscribers to the Memorandum of Association have dissociated themselves by transferring their equity shareholdings on June 30, 2010.
Anilkumar Detroja, Nilesh Detroja, Hitesh Detroja are the individual promoters and Pavan Blackrock Private Limited is the corporate promoter of the Company. The current promoters were first associated with the Company as below:
Anilkumar Detroja - First acquired shares on June 30, 2010
Nilesh Detroja - First acquired shares on June 30, 2010
Hitesh Detroja - First acquired shares on June 30, 2010
Pavan Blackrock Private Limited - First acquired shares on January 10, 2015
The company is currently engaged in manufacturing and marketing of Vitrified Ceramic Tiles and wall tiles in the domestic and international markets having an integrated manufacturing unit based in Morbi, Gujarat. We have been recently been recognized as Two Star Export House by the Directorate General of Foreign Trade vide certificate dated February 08, 2017. For information of the Company`s profile, activities, market, products, etc., market of each segment, capacity built-up, exports and profits due to foreign operations together with country wise analysis, standing of the Company in comparison with prominent competitors, with reference to its products, management, managerial competence, technology, market, major suppliers and customers, environmental issues, geographical segment, etc. wherever applicable, please refer to chapters titled Business, Financial Statements as Restated, Management`s Discussion and Analysis of Financial Condition and Results of Operation, Government and Other Statutory Approvals beginning on page 146, 203, 245 and 269 respectively of this Red Herring Prospectus.
KEY EVENTS AND MILESTONES
The following table sets forth the key events and milestones in the history of the Company, since incorporation:
2008
- Formation of Partnership Firm under the name and style of M/s Vitco Vitrified
- Incorporation of the Company as Vitco Vitrified Private Limited pursuant to conversion of the partnership firm
2010
- Change of Name of the Company to Lexus Granito (India) Private Limited
- Change of control of the Company to the existing promoters
2016
- Received Certificate of Recognition as One Star Export House from Directorate
- General of Foreign Trade
2017
- Conversion of Company from Private Limited to Public Limited
- Received Certificate of Recognition as Two Star Export House from Directorate General of Foreign Trade
- Awarded as Rising Stars at Power Brands Global London International Forum for Equality
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