Nishat Group [1] is a group of companies headquartered in Lahore, Pakistan.[2][3] It was founded in 1951. Mian Muhammad Mansha is the current chairman of the group.[4]
At least eleven of Nishat Group's subsidiaries are listed on the Pakistan Stock Exchange.[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. 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:
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[3]
- 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.[18]
In March 2017, it was announced that Nishat Group will setup their first plant in Faisalabad, Pakistan, which will assemble electric cars.[4] Nishat Group will have a 42% stake in the venture.[4]
Nishat Agriculture Farms
In 2024, the company announced its plans to invest in corporate farming.[19]
Nishat Automobile
In February 2017, it was announced that both companies are venturing to assemble cars in Pakistan.[18]
In March 2017, it was announced that Nishat Group will setup their first plant in Faisalabad, Pakistan, which will assemble electric cars.[4] Nishat Group will have a 42% stake in the venture.[4]
Nishat Agriculture Farms
In 2024, the company announced its plans to invest in corporate farming.[19]
Defunct
See also
References
- Oxford Urdu-English Dictionary Oxford University Press Pakistan, 12 September 2013^
- Dilawar Hussain. Who's who of the PSX dawn.com, March 22, 2021^
- The Nishat Hotel starts operations in Lahore The Express Tribune, 19 April 2014, retrieved 1 May 2022^
- Nasir Jamal. Nishat Group to introduce electric, hybrid cars Dawn, 3 March 2017, retrieved 1 May 2022^
- Sengupta. The man behind Pakistan's biggest conglomerate Fortune India, 5 May 2011, retrieved 1 May 2022^
- Muhammad Amjad Saqib. Kamyab Log Sang-e-Meel Publications, 2016^
- Amjad, Rashid. Industrial Concentration and Economic Power in Pakistan Pakistan Economic and Social Review, 1976^
- Pakistan: Cement company equity issue cancelled^
- AICL – Stock quote for Adamjee Insurance Company Limited – Pakistan Stock Exchange (PSX) Pakistan Stock Exchange, retrieved 2022-11-11^
- 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 2022-11-11^
- 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^
- Hyundai to assemble cars in Pakistan in venture with textile group Nishat Mills Dawn, 4 February 2017, retrieved 1 May 2022^
- Monitoring Desk. Nishat Group expands into corporate farming, local manufacturing Profit by Pakistan Today, 2024-07-08, retrieved 2024-07-23^
- Claudia Cragg. The New Maharajahs: The Commercial Princes of India, Pakistan and Bangladesh 1996^