Bombay Burmah Trading Corporation facts for kids
 |
|
| Public | |
| Traded as | |
| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=INE050A01025 INE050A01025] |
| Predecessor | Wallace Bros & Co. |
| Founded | 1863 |
| Founders | Wallace brothers |
| Headquarters | Wallace Street, Fort,
,
India
|
|
Area served
|
Worldwide |
|
Key people
|
Nusli N. Wadia (Chairman) |
| Revenue |  ₹247.25 crore (US$42 million) (FY18) |
| ₹-25.83 crore (US$−4.4 million) (FY18) |
|
| Owner | Wadia Group (65.93%) |
The Bombay Burmah Trading Corporation Limited (BBTC) is an Indian company. It is based in Mumbai and is owned by the Wadia Group. The company was started in 1863 by the Wallace Brothers from Scotland. It is India's oldest company whose shares are traded publicly. BBTC was first set up to trade tea from Myanmar (then called Burma). It took over the Burmese businesses of William Wallace to get started.
How It Started
The company began when six brothers, known as the Wallace Brothers, came to Bombay (now Mumbai). They were part of a Scottish merchant family from Edinburgh. They arrived in the 1840s. In 1848, they formed a business partnership in Bombay called "Wallace Bros & Co".
In the mid-1850s, the Wallaces started a business in Rangoon (now Yangon), Myanmar. They shipped tea from there to Bombay. In 1863, their business became "The Bombay Burmah Trading Corporation". Both Indian merchants and the Wallace Brothers owned parts of the company. The Wallace Brothers had the main control.
Growing the Business
By the 1870s, BBTC was a top producer of teak wood in Burma and Siam (now Thailand). The company also had interests in other areas. These included cotton, looking for oil, and shipping goods.
A conflict between the Burmese state and BBTC played a role in the third Anglo-Burmese War. This situation gave British leaders a reason to get involved in Burma. By the 1880s, Wallace Brothers had become a major financial company in London. This company could influence information about Burma. They also shared important details about France's growing influence in the country.
New Owners and Today
Around the time India became independent, the Vissanji family bought the company from the Wallace brothers. In 1992, BBTC bought and joined with BCL Springs. Later, the Wadia Group, based in Bombay, took over BBTC.
Today, Bombay Burmah is part of the Wadia Group. It owns a large share (50.5%) of Britannia Industries. This amounts to over 12 crore (120 million) shares.
In 2023, the company announced a plan to sell three of its tea estates in Tanzania. These estates cover about 3,957 acres. They are being sold to a company called Udongo Wetu in Dar es Salaam, Tanzania. Also, Orange County Resorts bought eight coffee estates from Bombay Burmah for 291 crore Indian rupees.
See Also
- List of oldest companies
- List of oldest companies in India
- List of trading companies
- Trading company
