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Mothercare (India) Ltd.

BSE: 523238 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Mothercare (India) Ltd
NSE 05:30 | 01 Jan Mothercare (India) Ltd

Mothercare (India) Ltd. (MOTHERCAREINDIA) - Company History

.rm77 MOTHERCARE INDIA, LTD. OBJECTS & ACTIVITES: Manufacture of garments, business as retailers and dealers of and in child use products and accessories of all kinds including toys, infant foods, childern's garments, children's accessories, cosmetics, furniture, etc. INCORPORATION & PROMOTION: The Company was incorporated on 21st November, 1986 at Bombay and obtained the Certificate of Commencement of Business on 22nd December, 1986. It was promoted by shri P.L.Ahuja. RETAIL STORES: The Company established a chain of one-stop-shops named "LITTLE KINGDOM" to supply all items required, by childern. The first retail store was opened in Delhi on 2nd September, 1987 followed by stores at Cochin in July 1988, Jaipur in August 1988, Bangalore in September 1988, madras in November 1988 and Hyderabad in December 1988. During 1989-90, retail showrooms atg Lucknow, Chandigarh, Bombay, Bhopal, Indore< calicut, Visakhapatnam and Bangalore (second shop) were opened. Although the Company targeted open 20 showrooms by the end of March, 1990, only 14 showrooms were in operation. Three more showrooms were opened in early 1990-91 at Coimbatore, Ahmedabad and Madras (second shop). New additional childrens stores were also planned at Delhi, Bombay, Madras, Secunderabad and Vijayawada. During 1990-91, a new store New Delhi at Kamala Nagar was opened and also a first women's stores Ms was opened at Madras. MANUFACTURING UNIT: The Company set up a plant at BBangalore to manufacture garments with an installed cap;acity of 20,000 pieces of garments per month. Commercial production commenced in October,1989. During 1989-90, 47,282 pieces of garments were produced. During 1990-91, 1,18,508 garments were produced. During 1991-92, 1,43,580 garment were producted. EXPANSION & DIVERSIFICATION: During 1991-92, the Company proposed to expand its operations by setting up a chain of infant stores to cater to the infant market. Also steps were taken to set up a knitwerar unit at Bangalore. COLLABORATION AGREEMENT: During 1991-92, a franchise agreement was signed with a leading West Asian Business house to set up a chain of stores in the Gulf with the first super store being set up at Dubai in 1993. OBJECTS OF THE PUBLIC ISSUE: During February 1989, the Company made a public issue of equity shares to raise finance for setting up Company owned stores instead of franchised stores in mini-metros. In addition, the funds were to be utilised to set up a state of the art captive garment manufacturing unit in the near future and also to meet the long term fiancial requirements. RIGHT ISSUE: During November-December 1992, the Company offered 29,99,910 equity shares of Rs. 10 each on Rights basis in the proportion 2:1. Simultaneously another 42,600 equity shares of Rs.10 each were offered to the employees on an equitable basis. Also, another 5,00,000 equity shares were offered to US Frnchisee LK Inc., U.S.A. on firm allotment basis.