Baroda Agro Industries (BAIL) was originally incorporated in Feb.'89 as A R Choksi Finstock Pvt Ltd and was renamed A R Choksi Finstock in Sep.'91 and, on the same day, the name was changed to BAIL. The company, promoted by A K Choksi and S Choksi, was initially a finance company which later started manufacturing agro-based goods/candies, toffees and biscuits. The project appraisal was completed in Mar.'92 and, since then, BAIL has taken effective steps to implement the project. The implementation was delayed by the delay in raising funds and the acquisition of land. BAIL went public in Mar.'94 to part-finance a plant to manufacture 2700 tpa of candies, 900 tpa of toffees and 3000 tpa of biscuits at Dabhasa, Gujarat.