Pranavaditya Spinning Mills was incorporated as a public limited company on September 12, 1990, and obtained the certificate for commencement of business on October 16, 1990. The company started commercial production of cotton yarn on July 01, 1992, with an installed capacity of 12,768 spindles. Subsequently as phase two of the project the company installed four additional ring frames to enhance its installed capacity to 16,608 spindles. As part of phase two the company also installed additional four ring-frames and preparatory machines, and also Auto-coners for improving the quality of its yarn.
For further upgradation of the technology and to modernize the plant, the company had planned to install State-of-the-art machineries, and accordingly the company had raised the necessary funds by way of placement of equity shares with Kotak Mahindra Finance, and its associates. Kotak Mahindra Finance, now offers 30,00,000 Equity shares to the Indian Public, to enable the company to have its shares listed on Stock Exchange for a official quotation.
It manufactures and sells yarns, fabrics, and garments. The company is headquartered in Mumbai, India.