Incorporated in Jan.'89 as a private limited company and subsequently converted into public limited company in Jul.'94, Riba Textiles was promoted by Ravinder Garg and his family._x000D_ _x000D_ The company is engaged in the manufacture of terry towels at Chidana (Panipat district), Haryana. Commercial production commenced in Jan.'92. In 1995-96, the company undertook an expansion-cum-backward integration programme to increase the installed capacity from 250 tpa to 1499 tpa; and also to set up an open-end spinning plant with a capacity of 768 rotors, for the manufacture of cotton yarn for captive consumption. The company is also installing its own dyeing facility._x000D_ _x000D_ In Mar.'96, the company issued shares to the public to part-finance its expansion-cum-backward integration project. The company is a registered 100% EOU._x000D_ _x000D_ During 1996-97, foreign exchange earned by the company is amounting to Rs. 7.67 cr._x000D_