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Karuturi Global > Company History > Miscellaneous > Company History of Karuturi Global - BSE: 531687, NSE: KGL
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Karuturi Global
BSE: 531687|NSE: KGL|ISIN: INE299C01024|SECTOR: Miscellaneous
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Feb 14, 11:25
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Company History - Karuturi Global
1995 - Incorporated in 1994-95, as Karuturi Floritech a 100% EOU unit
 for floriculture, promoted by Ms Anita Karuturi and was engaged in
 three businesses floriculture, processing foods - gherkins, and
 information technology.
 
 1996 - Established its first production facility near Bangalore.
 
 1999 - Company set up an Internet Auction Portal named Rose
 Bazaar.com to gain benefits of disintermediation through the use of
 Internet. 
 
 - Company also set up its second production facility for roses near
 Bangalore taking the total size of rose farms to 10 hectares.
 
 2000 - In keeping with the changing focus, the company changed its
 name from Karuturi Floritech Ltd., to Karuturi.com Ltd.
 
 2001 - It invested in a private Satellite Gateway and an IDC as a
 part of the Rose Bazaar initiative.
 
 - The Company also got Class .B. ISP license from the Department of
 telecom as a statutory requirement for a private Internet Satellite
 Gateway and has since been renamed Karuturi Networks Ltd.
 
 2003 - The company emerged as the lowest cost rose cultivator and the
 largest rose producer in the country.
 
 2004 - The company conceptualized the Ethiopian initiative and set up
 a wholly owned subsidiary in Ethiopia, Africa, called Ethiopian
 Meadows Plc to produce HT cut roses.
 
 2005 - Further it conceptualized the synergistic foray into processed
 foods.
 
 2006 - Company received the largest order for roses in its history
 from the latest retail chain in UK. 
 
 2007 - On Oct. 19, 2007, Karuturi Networks completed all formalities
 required for the acquisition of infrastructure and management control
 of Sher Agencies, Kenya.
 
 -The Company has issued Bonus Shares in the Ratio of 1:1.
 
 2008 - It has fixed 11th April, 2008, as the record date for the
 stock split of Rs 10 per share of the Company into the shares of Rs 1
 each. 
 
 - Name of the company was changed from Karuturi Networks to Karuturi
 Global Ltd on 17th March.
Source : Dion Global Solutions Limited
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