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Bombay Dyeing and Manufacturing Company
BSE: 500020|NSE: BOMDYEING|ISIN: INE032A01023|SECTOR: Diversified
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Company History - Bombay Dyeing and Manufacturing Company
1879 
 
 - The company was incorporated on 23rd August, at Mumbai.  It
 manufactures cotton textile goods, non-woven fabrics and DMT.  The
 textile products are sold under the trade name TEXSPRING,
 SPRINGTEX, etc.  Operations other than spinning and weaving are
 bleaching, dyeing, printing, mercerising, sanforising, tebilizing,
 Hecowa and other finishings.
 
 - Archway Investment Company (P) Limited became a wholly owned
 subsidiary of the company.
 
 - Scal Investments Limited and Pentafil Investments, Limited are
 also
 subsidiaries of the company.  Scal Services Limited, is a subsidiary
 of
 Scal Investment Limited is also a subsidiary of the Company.
 
 1961
 
 - The company entered into an agreement with Tootal Broadhurst Lee.
 Co. Limited, Manchester, for the technical know-how and use of their
 patented crease resistant and minimum ironing processes under which
 the
 company was permitted to brand its goods with marks Tebilized and
 Tebilized Double.  In the following year, negotiations were
 concluded
 with Heberilein & Company of Wattil, Switzerland, for the right to
 use
 their Hecowa finish on processed goods.
 
 1968 
 
 - In February, the scheme of amalgamation of the Nowrosjee Wadia
 Ginning & Processing Company Limited, with the company was approved
 by
 the Mumbai High Court with retrospective effect from 1st October,
 1967.
 
 1974 
 
 - 2,89,129 Bonus shares issued in prop. 1:5.
 
 1976
 
 - 3,46,955 bonus shares issued in prop. 1:5.
 
 1978 
 
 - A letter of intent was received for the manufacture of 60,000
 tonnes
 of dimethyl terephthalate (DMT).  An agreement was entered into with
 Hercofina of USA, for the purchase of equipment and machinery and
 for
 technology and technical service.
 
 1979 
 
 - A new company under the name P.T. Five Star Industries, Ltd. was
 incorporated in Indonesia.
 
 - The Company also entered into a Technical Services Contract with
 their Indonesian company under which it was to be paid 2% of the net
 sales.
 
 - During July/August, 20,81,729 Bonus shares issued in prop. 1:1.
 
 1982
 
 - 3,33,334 No. of Equity shares allotted to debenture holders upon
 conversion of debentures at a premium of Rs 5 per share.
 
 1986
 
 - During May/June, the Company offered 8,00,000/15% secured
 redeemable
 non-convertible debentures of Rs 100 each on rights basis to the
 equity
 shareholders, and to the holders of the 12% non-convertible
 debentures.
 
 1988 
 
 - The Company installed 2 open-end spinning machines, 3 auto coners,
 7
 high speed combers, 1 hot air stenter and some jiggers in the
 processing house in Mumbai.
 
 - A caustic recovery plant was installed.  The Company agreed to
 take
 up 40% equity in an integrated textile project to be set up in
 Bandung
 in collaboration with an Indonesian company.
 
 1989 
 
 - 2 new Blow Room lines with cards, 7 auto coners and 48 new Air-jet
 Weaving machines were installed.  At the processing house, in
 Mumbai,
 some Polywool processing machinery and new fusible interlining
 machines
 were also installed.
 
 - The Company submitted revised proposal for the foreign
 collaboration
 for the expansion of capacity of DMT to 100,000 TPA.
 
 - The Company entered into a contract with 20th Century Foods Pvt.
 Ltd. of Singapore to render technical services to Thulhiriya Textile
 Mills (Sri Lanka) a Government owned textile mill of Sri Lanka,
 having
 1,30,000 spindles and 560 looms.
 
 1990
 
 - The Company installed a blow room line with high production cards,
 6
 open-end spinning machines, 16 sulzer weaving machines and 2 auto
 coners at its manufacturing mills.  Additions to the processing
 machinery included a chairless mercerizer, energy efficient stenter,
 a
 soaper, a singeing machine and 3 yarn dyeing units.
 
 - 112,41,980 Bonus Equity shares issued in prop. 1:1.
 
 1991
 
 - The Company installed 2 blow room lines, 15 trutzscher cards, 4
 laxmi
 reiter cards, 12 high-speed draw frames, 6 combers, 2 sizing
 machines,
 1 hot flue drying machines and 6 open-end spinning machines.
 
 1992 
 
 - The Capital Equipment installed included 72 air jet weaving
 machines,
 8 trutschler cards, 9 draw frames, 5 open end spinning machines, 6
 autoconers, 1 warping machine and 2 sizing machines.
 
 1993
 
 - On 2nd December, the Company launched the Euro Issue in the
 international markets.
 
 - During May/June, the Company offered 47,21,632-15% secured
 non-convertible debentures (NCD) and/or secured premium notes with
 zero
 interest (SPN) of Rs 200 each with 2 detachable warrants attached to
 each NCD/SPN as follows:
 
 - (i) 44,96,792 NCDs and/or SPNs for the equity shareholders of the
 Company in the proportion of 1 NCD/1 SPN for every 5 equity shares
 held
 (all were taken up);
 
 - (ii) 61,568 NCD and/or SPNs to the holders of the 15% secured
 non-convertible debentures (1986 series), at the rate and in
 relation
 for their existing holding of 15% secured redeemable non-convertible
 debentures (only 32,077 NCDs/SPNs taken up) and
 
 - (iii) 1,63,272 NCDs and/or SPNs to the employees of the Company
 (only
 85,610 NCDs/SPNs taken up).
 
 - The Company would issue 2 detachable warrants for the holders of
 NCDs/SPNs after the NCDs/SPNs are fully paid-up.  Each
 warrantholders
 would have a right to apply for and be allotted a first equity share
 of the Company upon payment of Rs 60 per share between the date of
 allotment of the NCDs/SPNs and 6 months therefrom and a secured
 equity
 share on payment between 18 months and 36 months from the date of
 allotment of the NCDs/SPNs.
 
 - The NCDS would be redeemed at par at the end of the 8th year from
 the
 date of allotment thereof or at the option of the Company at par but
 not before the end of the 5th year from the date of allotment in
 part
 or full.
 
 - The principal amount of the SPN of Rs 200 each would be repaid in
 4
 equal annual instalments of Rs 50 each together with a premium of Rs
 60
 per SPN at the end of the 4th, 5th, 6th and 7th years from the date
 of
 allotment of the SPNs.
 
 - 99,41,999 No. of equity shares allotted as follows: 54,34,782 No. 
 of
 equity shares underlying GDRs on 17.1.94, 32,43,085 shares allotted
 against 1st warrant attached to NCD on 11.2.94, 12,64,132 shares
 issued
 on 11.1.94 against 1st warrant attached to NDCs/SPNs.
 
 1994
 
 - 6,94,508 shares allotted as follows: 81,349 shares allotted at a
 prem. of Rs 50 per share against 1st detachable warrant on 1st July
 to
 shareholders 13,159 shares at a prem. of Rs 50 per share issued on
 1st
 November against 1st detachable warrant to shareholders.  6,00,000
 shares allotted at prem. of Rs 65 per share to promoters on
 excercise
 of 1st warrant on 26th December.
 
 1995 
 
 - Bombay Dyeing and Manufacturing Company Ltd., the largest
 manufacturer of DMT, is increasing its capacity from 1,12,000 tpa to
 1,45,000 tpa.
 
 - 54,52,086 shares allotted consequent upon exercise of conversion
 Rights allotted to equity warrants issued on Right basis to
 shareholders and GDR warrants.
 
 1996 
 
 - The volume of DMT division grew from 1,34,540 tonnes to 1,43,586
 tonnes despite a 6 weeks shutdown in the first half of the year.
 
 - 31,000 shares exercise of GDR warrants during the year.  17,84,544
 No. of equity shares allotted against 1st and 2nd Detachable
 warrants
 which were issued alongwith 15% Right Non-convertible debentures.
 7,433 shares allotted on exercise of warrants.
 
 1997 
 
 - The Company introduced three new brands for Home collection.
 
 - The volume of DMT produced also came down to 1,37,666 tonnes, due
 to
 a fire which took place in April.
 
 - 606,299 No. of equity shares issued on conversion of equity
 warrants
 issued on a rights basis to shareholders/promoters.
 
 - The company has introduced various projects in its mills to
 improve
 the quality of yarn and fabric and reduce rejects.
 
 - Bombay Dyeing is the largest supplier of DMT in the country with a
 capacity of 1.60 lakh tonnes per annum.
 
 - The Bombay Dyeing & Manufacturing Company Ltd has signed an
 agreement
 with NSDL to get its equity share admitted for dematerialisation.
 
 - Bombay Dyeing signed up with fieldstone Cannon of the US to setup
 a
 50:50 joint venture to make terry towels.
 
 - Textiles and petrochemicals firm Bombay Dyeing and Manufacturing
 Company Ltd has shut down its DMT plant after a fire broke out on
 August 9.
 
 1998
 
 - The company plans to shut down the operation at the DMT plant for
 a
 couple of days the following week owing to internal technical
 problems.
 The company produces almost 14,000 to 15,000 tonnes of DMT a month.
 The DMT plant has a capacity of 1.65 lakh tonnes per annum.
 
 - The Company introduced two new brands viz princeton and Forest
 Hills in Apparel and Tulip and Harmony in the home collection
 segment almost seven years after the launch of its Vivaldi brand.
 
 - Bombay Dyeing has become the latest entrant into the depository
 with
 the signing of an agreement to get its equity shares admitted for
 dematerialisation process began as Bombay Dyeing's share registrar
 and
 transfer agents are already networked with NSDL.
 
 - The Bombay Dyeing & Manufacturing Company Ltd has signed an
 agreement
 with NSDL to get its equity share admitted for dematerialisation.
 
 - Bombay Dyeing and Manufacturing Company Ltd has entered into a
 long-term contract for export of 15 per cent of its DMT production.
 
 - Bombay Dyeing has been affected by depressed prices of the DMT and
 stagnant performance of the textile sector.
 
 - Bombay Dyeing, flagship of the Wadia group, is shortly launching
 two
 independent, stand-alone brands in the casual and formal-wear
 category
 in a bid to make inroads into the higher segment of the men's
 garment
 market.
 
 1999 
 
 - Bombay Dyeing has called off its proposed terry towel joint
 venture
 project with the US-based Fieldcrest Cannon.
 
 2000
 
 - The Company has closed down its Spinning unit in Jamnagar, Gujarat
 with effect from July 29, and a Voluntary Retirement Scheme has been
 offered to the 425 employees.
 
 2001
 
 - The company has informed that, Mr.S.S.Kelkar has retired as ED of
 the
 company w.e.f. close of business on 31.07.01. He will, however,
 continue as an ordinary Director of the company w.e.f. 01.08.01, and
 Mr.Ness N. Wadia has been appointed as Dy.Managing Director of the
 company w.e.f. 01.08.01.
 
 2002
 
 -Company buys back its equity shares of face value of Rs.10 each from
 the open market.
 
 -Board declares to pay an interim divident of Rs.1/- per share 
 
 -The Board of Directors approve for the proposal of financial
 restructuring of the company.
 
 -Downsizes the employee strength by 700 employees during the
 financial year in its restructuring strategy.
 
 -Acquires 51% stake in Proline India for a sum of Rs.4 cr 
 
 -Changes its Readymade Garment Business to Proline India Ltd. 
 
 -Ninu Khanna appointed as Managing Director of Bombay Dyeing.
 
 -Stake increased by 1.75% by its promoters.
 
 -Bombay Dyeing & Mfg Co. Ltd informs that the Board of Directors of
 the Company at their meeting held on June 11, 2003 have appointed Mr.
 S Ragothaman as an additional Director of the Company.
 
 -Unveiles new media campaign. The `Gladrags' model is the new face of
 Bombay Dyeing. The tagline reads, `Bring style home.'
 
 -Voluntarily delists the Company's Equity Shares from MSE.
 
 -The promoter's equity stake  stands at 43.19 per cent, slightly more
 than last fiscal's 42.58 per cent. Spread over two fiscals.
 
 -Director, Mr K F Rustamji passes away on Mar 02 2003.
 
 -The board approves for voluntary delisting of the company's equity
 shares from stock exchanges.
 
 -In pursuant to RBI Two Way Fungability of ADR's/GDR's circular,
 company enters into an
 agreement with Citibank NA.
 
 -Special court decides not to auction the company's shares held by
 Harshad Mehta.
 
 -Delisted shares from Delhi Stock Exchange.
 
 - Bombay Dyeing unveils 150 new designs in bed and bath linen and
 home towel category
 
 2005
 
 -Nickleodeon,ties up with Bombay Dyeing for a merchandising
 arrangement
 
 2009
 
 - Bombay Dyeing & Manufacturing Company Ltd has informed that Mr.
 Vinita Bali has been appointed as Additional Director of the Company
 w.e.f. April 30, 2009.
 
 2010
 
 -Bombay Dyeing has launched 'Aroma Rich', its range of fragrant bed
 linen.
 
 -Bombay Dyeing has launched  a new range of bedsheet called E Magic
 with properties of Vitamin E
 
 2011
 
 -Bombay Dyeing & Manufacturing Company Ltd has recommended a dividend
 of Rs. 3.50
 
 2012
 
 -Bombay Dyeing & Manufacturing Company Ltd has recommended a dividend
 at the rate of Rs. 5/-
 
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
Source : Dion Global Solutions Limited
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