Bosses of Bombay Dyeing and Manufacturing Ltd on Wednesday agreed to set up a joint venture with Proline and transfer its garment business to the new company as it looks to become a key player in the apparel industry. Bombay Dyeing will hold a 51 per cent stake in the JV and said in a statement to the Bombay Stock Exchange plans to combine its distribution strength and financial resources with the experience and skills of Proline's parent Batra group.