The company was incorporated in May '81 as a private limited company in the name of Shree Balaji Calendering House Pvt Ltd. Subsequently, the name of the Company was changed to Balaji Prints Pvt Ltd in 1982. It was converted into a public limited company on 17 Dec.'82. The company commenced its textile processing activities in January 1982 on rental machineries and in 1983, it set up a cotton-cum-synthetic textile processing unit at Dombivli in Thane district of Maharashtra. This unit was set up for processing, bleaching and calendering of fabrics and sarees. Early in 1986, the name of the Company was changed to Rajkamal Synthetics. The company also has a manufacturing unit at Surat, Gujarat. To augment its trading activities the Company set up a division International Cloth Agency at Bombay in Apr.'86. In Dec.'86, the company issued 4.5 lac 15% non-convertible debentures of Rs 100 each for Rs 450 lakhs on rights basis to equity shareholders. In 1989-90, the company undertook an expansion programme at its Sachin (Surat) plant to increase the printing and dyeing capacities. The company's plant at Sachin is closed since Jun.'93 due to lack of working capital. The company sold its Sachin plant to Mittal Fabric Manufacturing Co Pvt Ltd in Mar.'96, for a sum of Rs 175 lac.