Bang Overseas Ltd Share Price

History of Bang Overseas Ltd

Bang Overseas Ltd was incorporated in year 1992 as Bang Overseas Private Limited and converted as Public Limited Company on February 4, 2005. The Company is presently providing fashion fabrics and meeting ready to wear requirements of the customers in apparel, textile and retail segment. The company started business from trading in textile and since 1998; it conceptualized in designing fashion fabrics and outsourcing the manufacturing process of the same from countries like Turkey, Portugal, Mauritius and other European Countries. In same year, it launched the seasonal fabric collections in textile under the name 'Bodywaves', marketed through the own distribution channel to different brands and retailers. The company has ventured into ready-to-wear men's' segment in 2000 by outsourci ...ng manufacturing process with the experience in designing fabrics and in turn selling to various international brands. The company has launched ready-to-wear men's' garments under our brand name 'Thomas Scott' in 2002. The company has started its own first apparels manufacturing unit in Bangalore in the year 2005 in the name of Reunion Clothing Company with an installed capacity of 350,000 pieces per annum and in the year 2006 the company has started its second manufacturing unit in the name of Formal Clothing Company with an installed capacity of 360,000 pieces per annum. At present company have installed capacity of 720,000 and 540,000 pieces per annum at Reunion Clothing Company and Formal Clothing Company. The company products are presently retailed through 157 point of sales comprises of own Retail outlets, Large format stores (LFS) like Shoppers' Stop, Pyramid, Globus, the LOOT, SAGA and Multi Brand Outlets (MBO) spread all over India. The company has also catered to the demand of various other apparel manufacturer and brands. The company has having centralised warehousing and logistic centre at Kalher Village near Bhiwandi to facilitate supply chain management of our business. The Company commenced the civil construction for setting up of a unit of manufacturing of garment in the Visakhapatanam Special Economic Zone (VSEZ) in 2010. As on March 31, 2010, the Company opened 66 Retail outlets. The Company incorporated a wholly owned subsidiary called as Thomas Scott (India) Limited on October 22, 2010 during the FY 2010-11. The Company in 2010-11, incorporated 2 Wholly Owned Subsidiaries namely Bang Europa S. R. O. at Slovakia and Bang HK Limited at Hong Kong to expand its business activities and establish a place in International Market by way of formation and acquisition of business set up abroad. The Company entered into a Joint Venture with a Leading Fashion Group at Macedonia through its Wholly Owned Subsidiary to enable the expansion of its business overseas even on a larger scale. Bang Europa, s.r.o., the Company's wholly owned subsidiary, situated at Slovakia incorporated its wholly owned subsidiary and invested in the aforesaid Company named as 'Bang & Scott' at Macedonia for manufacturing and import-export business of garments. Also, Bang Europa, s.r.o. took up the Management & Business of a Macedonian Company which is into the business of Garments. The Company in 2011 started a Garment Manufacturing Unit called as 'Bang & Scott in Bangalore to increase the Manufacturing Capacity. Also, it got into Memorandum of understanding to purchase Doddaballapur, Karnataka, a renowned place for Garment Industries for setting up an Apparel Manufacturing & Logistics Unit. The Retail Division of the Company during 2011-12 got demerged into M/s. Thomas Scott (India) Limited (TSIL) through the Scheme of Demerger in August, 2011. In terms of the said Demerger, 33, 90,000 Equity Shares of Rs. 10/- each fully paid up of M/s. Thomas Scott (India) Limited were allotted to the Company in the ratio of 1 Equity Shares of M/s. Thomas Scott (India) Limited of Rs. 10/- against every 4 Equity Shares of Rs. 10/- each fully paid up of the Demerged Company as per the Share Exchange Ratio. The Company acquired Part IX Company called 'A. S. Raiment Private Limited' which is into Shirt Manufacturing Textile Business at Visakhapatnam, Andhra Pradesh in 2012.