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Ambala Cements (ACL) was incorporated as a private limited company in Feb.'92 and was subsequently converted into a public limited company in Jun.'95. The company was promoted by Vijay Kumar and Sunil Chandra. The company is engaged in the manufacture of ordinary portland cement of 43 and 33 grade with an installed capacity of 16,500 tpa at Sohana (Ambala district), Haryana. Commercial production commenced on 28 Jun.'93. Its product is sold under the Sreenath brand name. ACL undertook an expansion project in 1995-96 to enhance its capacity from 16,500 tpa to 66,000 tpa. To part-finance the expansion project and to finance the requirement of margin money of working capital for the expansion project, the company came out with a public issue in Mar.'96.