Nishat Group
 | |
Native name | نشاط گروپ |
|---|---|
| Company type | Corporate group |
| Industry | |
| Founded | 1951 |
| Founders | Mian Muhammad Yahya Mian Hameed Mian Rafiq Mian Ayub |
| Headquarters | Lahore, Pakistan |
Key people | Mian Muhammad Mansha (chairman) |
| Total assets |  US$6 billion (2021) |
Number of employees | 43,000 (2021) |
| Website | nishatmillsltd |
Nishat Group (Urdu pronunciation: [niːˈʃaːt] nee-SHAHT) is a group of companies headquartered in Lahore, Pakistan.[1][2] It was founded in 1951. Mian Muhammad Mansha is the current chairman of the group.[3]
At least eleven of the Nishat Group's subsidiaries are listed on the Pakistan Stock Exchange.[4][5]
History
Nishat Group's origins go back to a leather business in Calcutta, British India, established by Mian Muhammad Yahya.[6] Following the partition of India in 1947, Mian Muhammad Yahya and his three brothers, Mian Hameed, Mian Rafiq, and Mian Ayub, founded Nishat Mills in Pakistan in 1951.[6] The name "Nishat" was pre-assigned to the textile license they acquired and was not chosen by the founders.[6]
Mian Muhammad Mansha joined the family business in 1968 after the death of his father, Mian Muhammad Yahya.[6] By 1970, the Nishat Group had expanded to include six industrial units in West Pakistan: Nishat Corporation, Nishat Sarhad Textile, Nishat Textile Faisalabad, Nishat Chemical Industries, Nishat Poultry, and Creamy Industries Nowshera.[6] The group also had investments in East Pakistan prior to the independence of Bangladesh, including Nishat Jute Mills, Qadiryah Textile Mills, Telgin Cotton Mills, and Chemical Industries of Pakistan.[6] Nishat Jute Mills was acquired by the group from the Pakistan Industrial Development Corporation in East Pakistan.[7]
In 1969, the assets of the group were divided among the family members.[6] Mian Muhammad Mansha received assets located in West Pakistan, while assets in East Pakistan were transferred to other family members, which were eventually lost after the creation of Bangladesh.[6]
In January 1995, Nishat Group planned to issue $70 million in global depository receipts (GDRs) through ABN Amro to finance the equity portion of a $216 million greenfield project for Hercules Cement.[8] The GDR issuance was canceled in February 1995 due to unfavorable international and local market conditions.[8]
List of companies
Listed companies
Following are the companies which are listed on the Pakistan Stock Exchange:
- Adamjee Insurance[9]
- DG Cement[1]
- MCB Bank[1]
- Nishat Mills[12]
- Nishat Chunian[14]
- Lalpir Power[15]
- Nishat Chunian Power[16]
- Pakgen Power[17]
Unlisted companies
Following are the companies which are not listed on the Pakistani Stock Exchange:[6]
- Pakistan Aviators & Aviation
- Security General Insurance
- Nishat Hotels and Properties Limited[2]
- Nishat Hospitality
- Nishat Residences
- Nishat Hotels
- Nishat Hotel, Aziz Avenue
- Nishat Hotel, Gulberg
- Nishat Hotel, Raiwind
- St James's Hotel and Club
- Nishat Agriculture Farming
- Nishat Automobile
Nishat Automobile
In February 2017, it was announced that both companies are venturing to assemble cars in Pakistan.[4]
In March 2017, it was announced that Nishat Group will setup their first plant in Faisalabad, Pakistan, which will assemble electric cars.[3] Nishat Group will have a 42% stake in the venture.[3]
Nishat Agriculture Farms
In 2024, the company announced its plans to invest in corporate farming.[18]
Defunct
- First Nishat Modaraba[19]
- Genertech[19]
- Nishat Tek[19]
- Raza Textile Mills[19]
- Umer Fabrics[19]
See also
References
- ^ a b c Hussain, Dilawar (22 March 2021). "Who's who of the PSX". dawn.com.
- ^ a b "The Nishat Hotel starts operations in Lahore". The Express Tribune. 19 April 2014. Retrieved 1 May 2022.
- ^ a b c Jamal, Nasir (3 March 2017). "Nishat Group to introduce electric, hybrid cars". Dawn. Retrieved 1 May 2022.
- ^ a b "Hyundai to assemble cars in Pakistan in venture with textile group Nishat Mills". Dawn. Reuters. 4 February 2017. Retrieved 1 May 2022.
- ^ Sengupta, Hindol (5 May 2011). "The man behind Pakistan's biggest conglomerate". Fortune India. Archived from the original on 1 March 2018. Retrieved 1 May 2022.
- ^ a b c d e f g h i Saqib, Muhammad Amjad (2016). Kamyab Log. Lahore: Sang-e-Meel Publications. pp. 105–112.
- ^ Amjad, Rashid (1976). "Industrial Concentration and Economic Power in Pakistan". Pakistan Economic and Social Review. 14 (1/4): 211–261. JSTOR 25821361.
- ^ a b "Pakistan: Cement company equity issue cancelled".
- ^ "AICL – Stock quote for Adamjee Insurance Company Limited – Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 11 November 2022.
- ^ "ALIFE – Stock quote for Adamjee Life Assurance Company Limited – Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "MCBIM – Stock quote for MCB Investment Management Limited. – Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NML – Stock quote for Nishat Mills Limited – Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NPL – Stock quote for Nishat Power Limited – Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NCL – Stock quote for Nishat Chunian Limited – Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 11 November 2022.
- ^ "LPL – Stock quote for Lalpir Power Limited – Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NCPL – Stock quote for Nishat Chunian Power Limited – Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "PKGP – Stock quote for Pakgen Power Limited – Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ Desk, Monitoring (8 July 2024). "Nishat Group expands into corporate farming, local manufacturing". Profit by Pakistan Today. Retrieved 23 July 2024.
{{cite web}}:|last=has generic name (help) - ^ a b c d e Cragg, Claudia (1996). The New Maharajahs: The Commercial Princes of India, Pakistan and Bangladesh. p. 74. ISBN 9780712677615.