Bombay Burmah Trading Corporation

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The Bombay Burmah Trading Corporation Limited
RevenueDecrease ₹247.25 crore (US$31 million) (FY18)
Decrease ₹−25.83 crore (US$−3.2 million)[2] (FY18)
OwnerWadia Group (65.93%)[3]
Websitebbtcl.com

The Bombay Burmah Trading Corporation Limited (BBTC) is an Indian trading company based in Mumbai owned by the Wadia Group.[4][5] It was formed in 1863 by the Wallace Brothers of Scotland. It is India's oldest publicly traded company,[6][7] and was established to engage in the Burmese tea business through the initial step of taking over the Burmese assets of William Wallace.

History

The company's founding occurred when the six Wallace Brothers, originally members of a Scottish merchant house in

Siam
, as well as having interests in cotton, oil exploration and shipping.

British motivations for the third Anglo-Burmese War were partly influenced by concerns of the BBTC. The Burmese state's conflict with the BBTC furnished British leaders with a pretext for conquest.[8]: 224–225  By the 1880s Wallace Brothers had become a leading financial house in London. This firm was able to affect the intelligence about Burma and, more critically, about the growing French influence in the country.[8]: 227 

The Vissanji family purchased the company from the Wallace brothers around the time of Indian independence. In 1992, the BBTC acquired and merged in

Wadia group based in Bombay.[9]

Bombay Burmah, a part of the Wadia group, holds a majority share of 50.5 per cent in Britannia Industries, amounting to a total of 12.17 crore equity shares. [10]

In 2023, the company announced that it will be divesting 3 tea estates in Tanzania, measuring around 3,957 acres, to Udongo Wetu, Dar es Salaam, Tanzania.[11]

Orange County Resorts acquired eight coffee estates from Bombay Burmah for Rs 291 crore.[12]

See also

Further reading

  • Arnold Cecil Pointon, Bombay Burmah Trading Corporation 1863-1963 (Southampton: The Millbrook Press. 1964) 142 pp.
    OCLC 752648475
  • RH Macaulay, History of Bombay Burmah Trading Corporation 1864 -1910 (London, 1934).
  • Anthony Webster, Gentlemen Capitalists: British Imperialism in South East Asia 1770-1890. (London: Tauris Academic Studies. 1998)
  • Candier, Aurore (2000). "De la collaboration coloniale : fortune des missions catholiques françaises en Birmanie, 1856-1918". Outre-Mers. Revue d'histoire. 87 (326): 177–203.
    doi:10.3406/outre.2000.3775
    . Retrieved 5 August 2020.

References

  1. ^ "Company Profile". The Bombay Burmah Trading Corporation, Limited. Retrieved 27 April 2019.
  2. ^ "Annual Report" (PDF). The Bombay Burmah Trading Corporation, Limited. Retrieved 27 April 2019.
  3. ^ "Shareholding" (PDF). The Bombay Burmah Trading Corporation, Limited. Retrieved 27 April 2019.
  4. ^ "Bombay Burmah to sell 3 tea estates in Tanzania for $1.2 million". cnbctv18.com. 19 April 2023. Retrieved 6 May 2023.
  5. ^ Chengappa, Sangeetha (6 June 2021). "Wadia group's Bombay Burmah to exit plantations business". www.thehindubusinessline.com. Retrieved 9 May 2023.
  6. ^ Mudgill, Amit. "Old isn't gold always! These 19th century firms failed to reward investors in last 5 years". The Economic Times. Retrieved 19 September 2022.
  7. ^ "Bombay Burmah Trading Corporation Ltd Share Price Today, BBTC Share Price NSE, BSE". Business Today. Retrieved 6 May 2023.
  8. ^
    ISBN 978-1-86064-171-8
  9. ^ Verghese, Luke. "Bombay Burmah: A sprawling conglomerate". www.equitymaster.com/. Retrieved 8 February 2017.
  10. ^ "Bombay Burmah to receive Rs 877 crore as interim dividend from Britannia Industries - shares jump 5%". cnbctv18.com. 5 April 2023. Retrieved 6 May 2023.
  11. ^ "Bombay Burmah to sell 3 tea estates in Tanzania for $1.2 million". cnbctv18.com. 19 April 2023. Retrieved 6 May 2023.
  12. ^ "Bombay Burmah to sell eight coffee estates to Orange County Resorts for Rs 291 Cr". cnbctv18.com. 1 March 2023. Retrieved 6 May 2023.
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