Nishat Group
Pakistani conglomerate based in Lahore From Wikipedia, the free encyclopedia
Nishat Group (Urdu pronunciation: [niːˈʃaːt] nee-SHAHT) is a group of companies headquartered in Lahore, Pakistan.[1][2] It was founded by in 1951. Mian Muhammad Mansha is the current chairman of the group.[3]
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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 |
At least eleven of the Nishat Group's subsidiaries are listed on the Pakistan Stock Exchange.[4][5]
History
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Perspective
Nishat Group's origins goes 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
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Perspective
Listed companies
Following are the companies which are listed on the Pakistan Stock Exchange:
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
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