NB Footwear Ltd Share Price

(523242)

NB Footwear is a subsidiary of the Rs 250cr Nava Bharat conglomerate which began business in 1987 with a capacity to make 3 lac pairs of shoes. After a period of difficulty where they were unable to secure orders, they were rescued by a stake investment from Nava Bharat Enterprises. Their main export market is Germany, selling to customers such as Remo Tiechmann Karstadt, as well as other countries, with plans to enter the US, Australia, South Africa and Southeast Asia. In 1996 they raised Rs 600lac and reached a joint venture agreement with Amerind Footwear Inc. in 1997. However, in 2001 they became a sick company, but managed to arrange a one-time voluntary settlement with Exim Bank to complete a Techno Economic Viability Study. By overcoming adversity, NB Footwear has become a success story with plans to expand into new markets.

Chairperson Name: Bina Shah