- Modi Group
-
Modi Group Type Privately held company Industry Diversified Business Conglomerate Founded 1933 Headquarters New Delhi, Delhi, India Key people Krishan Kumar Modi, Chairman, Samir Modi, Managing Director, Charu Modi Bhartia, Executive Director, Lalit Modi, Executive Director, Sarthak Behruia, Group President, Executive Assistant, Beenish Modi Products consumer products, Network marketing, Gourmet restaurants, Education, Entertainment, Tea & Beverages, Health, FMCG, Fashion, Food & Hospitality, Health Employees 28,000 approximately Website http://www.modi.com The Modi Group (consisting Godfrey Phillips India, Indofil Industries Ltd., Modicare Limited) is an Indian Business conglomerate based in New Delhi, India. It is a US $ 2.8 billion headed by Krishan Kumar Modi. The group has diversified business portfolio of making cigarettes, tea & beverages, entertainment, consumer products, network marketing, chemicals, tertiary education and Gourmet restaurants.
In April 2010, Krishan Kumar Modi, Chairman of Modi Group announced the succession plan for his business empire, quoting to Media about his business to be shared equally among his three children[1] which at present his run by K K Modi Family Trust, of which he is the Managing Trustee.
In June 2011, The Modi Group is planning to acquire majority control in Godfrey Phillips India from Philip Morris, the American Tobacco Manufacturer.Both Group had 36% share in the company until in 2009, Modi Group acquired additional 10.8% stake in GPI from Philip Morris for US $ 27 million, taking its holding to 47%. As per the Joint Venture agreement, Modi Group has right to take up his holding to 51% by buying further into Philip Morris' holding to get a majority control of the company. The deal will bring down Philip Morris' stake to 21%.[2]
Contents
Businesses
Own Brands
- Four Square Cigarettes
- FS1,Premium line of cigarettes
- Tea City
- Dessange
- Twenty Four Seven, Retail Store Line
History
Late Rai Bhadur Gujrarmal Modi (1902-1976),founded Modi Group from the small family run business by venturing to forming various townships,laying foundation of various Industries and commissioned 1932 onwards companies such as Modi Sugar, Modi Vanaspati Mfr Co., Modi Paints, Modi Oils, Modi Electrodes, Modi Lanterns and Torch works, Tube wells/drilling, Modi Distillery, Modi Steels, Industrial Gases, Modi Spinning and Wvg. Mills Co. Ltd., Modi Yarn Mills, Modi Threads, Modi Soap and Modi Carpets etc.
Awards
- Greentech Foundation Gold Award in 2009
- Greentech Foundation Silver Award in 2010
References
External links
- Company's Official Web Page - http://www.modi.com/index.html]]
- Organisation Pillars - http://www.modi.com/people-behind-the-group.html
Categories:- Conglomerate companies of India
- Companies based in New Delhi
Wikimedia Foundation. 2010.
