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Karuturi Global Ltd. Company History and Annual Growth Details

1995 - Incorporated in 1994-95, as Karuturi Floritech a 100% EOU unit for floriculture, promoted by Ms Anita Karuturi and was engaged in three businesses floriculture, processing foods - gherkins, and information technology.

1996 - Established its first production facility near Bangalore.

1999 - Company set up an Internet Auction Portal named Rose Bazaar.com to gain benefits of disintermediation through the use of Internet.

- Company also set up its second production facility for roses near Bangalore taking the total size of rose farms to 10 hectares.

2000 - In keeping with the changing focus, the company changed its name from Karuturi Floritech Ltd., to Karuturi.com Ltd.

2001 - It invested in a private Satellite Gateway and an IDC as a part of the Rose Bazaar initiative.

- The Company also got Class .B. ISP license from the Department of telecom as a statutory requirement for a private Internet Satellite Gateway and has since been renamed Karuturi Networks Ltd.

2003 - The company emerged as the lowest cost rose cultivator and the largest rose producer in the country.

2004 - The company conceptualized the Ethiopian initiative and set up a wholly owned subsidiary in Ethiopia, Africa, called Ethiopian Meadows Plc to produce HT cut roses.

2005 - Further it conceptualized the synergistic foray into processed foods.

2006 - Company received the largest order for roses in its history from the latest retail chain in UK.

2007 - On Oct. 19, 2007, Karuturi Networks completed all formalities required for the acquisition of infrastructure and management control of Sher Agencies, Kenya.

-The Company has issued Bonus Shares in the Ratio of 1:1.

2008 - It has fixed 11th April, 2008, as the record date for the stock split of Rs 10 per share of the Company into the shares of Rs 1 each.

- Name of the company was changed from Karuturi Networks to Karuturi Global Ltd on 17th March.
 
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