Incorporated on 22 Apr.'91 as a private limited company, Metropoli Leather Fashions Pvt Ltd commenced operations in May '91. Its name was changed to Metropoli Overseas Pvt Ltd on 1 Mar.'94 and to Metropoli Overseas on 21 Mar.'94.
MOL was promoted by Ramesh Kumar Sahu and Sushil Kumar Mohta. It exports leather goods -- luggage bags, ladies handbags, belts, etc -- to several countries like the US, Australia and the UK.
MOL came out with a Rs 4.5-cr public issue (premium : Rs 5) in Sep.'94 to part-finance the Rs 6-cr aquaculture project at Bideipur, Orissa, consisting of a shrimp farm of capacity 480 tpa. It has entered into a technical and marketing arrangement with Falcon Marine Exports, Orissa, which will buy 100% of MOL's production for five years.
The company has also diversifed into natural rubber (latex) threads with 2500 MT at Bangalore.