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 old Indian trading company. It is based in Mumbai, India. The company is owned by the Wadia Group. It was started in 1863 by the Wallace Brothers from Scotland. BBTC is known as India's oldest publicly traded company. It began by taking over the tea business assets of William Wallace in Myanmar (formerly Burma).
Contents
History of BBTC
How the Company Started
The Wallace Brothers were a group of six brothers from a Scottish merchant family. They first came to Bombay (now Mumbai) in the 1840s. In 1848, they formed a business partnership called "Wallace Bros & Co." in Bombay.
Around 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 a public company called "The Bombay Burmah Trading Corporation." Both Indian merchants and the Wallace Brothers owned parts of the company. The Wallace Brothers had the most control.
Growing Business Interests
By the 1870s, BBTC was a major 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.
BBTC and the Anglo-Burmese War
The company's business issues in Burma even played a part in the start of the third Anglo-Burmese War. Problems between the Burmese state and BBTC gave British leaders a reason to take control. By the 1880s, Wallace Brothers had become a very important financial company in London. This company could share information about Burma. They also shared details about France's growing influence in the country.
Changes in Ownership
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 of 50.5 percent in Britannia Industries. This means BBTC owns more than half of Britannia Industries' shares.
Recent Business Activities
In 2023, the company announced a plan to sell three tea estates in Tanzania. These estates cover about 3,957 acres. They were sold to a company called Udongo Wetu in Dar es Salaam, Tanzania.
Also, Orange County Resorts bought eight coffee estates from Bombay Burmah. This deal was worth Rs 291 crore.
See also
- List of oldest companies
- List of oldest companies in India
- List of trading companies
- Trading company
