Was started in the year 1876 by an English Company based in Manchester and had a Secretary and a Manager for Bombay. But this experiment of a n English Company owning a MIll inIndia dod not prove to be a success and in 1893 the concern was mortgaged to Sir George Cotton, Messrs. Bojonji Capadia, Vijbhukhandas Atmaram and Cursondas Valubhdas. Messrs. Greaves, Cotton & Co. were appointed agents and subsequently became proprietors by purchase and the name was changed to Apollo Mills. It worked profitably till 1919 when it was sold for Rs 50 lakhs to Mr L. Haji Ismail who parted with it in 1923 to Messrs. E. D. Sassoon and Co., Ltd. In 1920s the Mill had 39,000 spindles and 900 looms with around 2500 mill workers. The Mill was driven electrically by electricity from Tata Hydro Power.
It was earlier called Hong Kong Mill and Tabelyachi Mill in the local parlance as it was located close to the Municipal Stables. The 7.5 acres plot of the Mills was Purchased by the Lodha Developers in the year 2009 for 180 crores. The constructed a residential project named Bellissimo/Primero and a commercial complex called Excelus.