Incorporated in Feb.'95 as a public limited company, Surya Knitwears was promoted by Parmod K Jain, Rajiv Jain and Shashi Jain, Sat Pal Jain, Vikas Sharma and Rashmi Khanna. The company is in the process of setting up a project for the manufacture of cotton/acrylic/polyester knitted garments, with an installed capacity of 3,24,000 pcs pa, at Ludhiana, Punjab. It came out with a public issue in Feb.'96 to part-finance the project. The company has an obligation to export 50% of its production, for which it has made arrangement with Pailung Machinery Co, Taiwan, for lifting all the export production manufactured on the circular machines supplied by this company. It is yet to enter into an agreement with the Taiwanese company.