The theatre was built on funds by private donations on subscriptions by shares of 100 Rs each.
Notably, "almost all the prominent actors and actresses of the time joined the theatre", among them being "Mr. Stocqueler, Mr. Parker, Mrs.
Mrs. Gottlieb, Mrs. Goodall, Mr. Atkinson, Mrs. Chester, Mrs Francis, Mrs Jones, William Linton, Henry Meredith Parker, Thomas Allosps" and foremost Esther Leach, who became one of the star attractions of the theatre, and D. L. Richardson became renowned as a director.
The actors and the performances were generally given favorable reviews and came to be regarded for its high standards.
By 1835, however, the theatre experienced severe financial difficulty and Prince Dwaraka Nath Tagore successfully suggested that it be sold.