Namaste Exports Ltd(formerly Namste Tanneries), promoted by K Narayan Bhat and Madhur N Bhat in 1988 is into manufacture and export of leather garments, leather goods and textile outerwear.
The company has manufacturing facilities covering the entire process range -- from tanneries to garment finishing units. It has two tanneries with modern machinery -- one at Madras and the other at Ranipet. In addition, it has taken, on a long-term lease, a tannery with adequate production facilities at Vaniyambadi.
The company is one of the leading manufacturers and exporters of high-quality leather garments and leather goods. 99% of its products are exported to Germany, the UK, the US, France, Holland, Denmark, Japan, etc. It is the recipient of the Export Award for the highest exports of leather garments for the last nine years. It is a recognised Trading House.
The company came out with a public issue in Jun.'93 at a premium of Rs 90 for the modernisation of tanneries, expansion of capacity for leather garments and textile outerwear, diversification into shoe manufacture and to augment long-term working capital.
The company is under the purview of BIFR since March 1999 and IDBI as operating agency has studied the viability of the company and suggested a suitable rehabilitation package. The company is implementing the rehabilitation package involving one time settlement of the dues to the various lenders and approved by BIFR.