The Company
Tallu Spinning Mills Limited is a cotton yarn manufacturing company was envisaged by a group of dynamic entrepreneurs who have immense contribution to development of the textile sector of Bangladesh. The Company was incorporated as a Public Limited Company on July 20, 1985 under the Companies Act, 1913. The project was financed with the financial assistance of Bangladesh Shilpa Bank (presently known as Bangladesh Development Bank Limited) and it went into commercial operation in July 1989 at Damurhuda, Chuadanga. In 2007, the company management took a breakthrough decision to shift/relocate the project from non-gas zone of Chuadanga to a gas zone as the productive capacity utilization went down to around 30% for non availability of required grid power and high cost of generator fuel. With the active support of the honorable shareholders, directors and other management staff and the financial assistances of Bangladesh Shilpa Bank the company successfully implemented the relocation scheme at a capital outlay of Tk. 461.05 million. The project is now relocated at Koltapara Bazar, Gouripur, Mymenshing.
The Authorized Capital of the company is Tk. 800.00 million divided into 80 million ordinary shares of Tk. 10.00 each and its Paid-up Capital is Tk. 186.09 million as on September 30, 2011 divided into 18,608,920 ordinary shares of Tk. 10.00 each subscribed by the shareholders. However, the shareholders of the Company also approved 15% stock dividend of Tk. 27.91 million in its 22nd Annual General Meeting held on December 31, 2011. Thus, the total paid-up capital of the company stood at Tk. 214.00 million as on December 31, 2011.
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