Sahara India Pariwar
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| File:Saharindialogo.svg | |
| Company type | Private |
|---|---|
| Industry | Conglomerate |
| Founded | 1978 (Gorakhpur, India) |
| Founder | Subrata Roy Sahara |
| Headquarters | , |
Area served | India |
Key people | Subrata Roy Sahara (Chairman) |
| Products | Financial services Construction Mass media Retailing IT Services & Outsourcing |
| Revenue | ₹73,000 Crore (2011)[1] |
| Website | www |
Sahara India Pariwar is an Indian conglomerate company headquartered in Lucknow, Uttar Pradesh, India. Its diversified business has interest in finance, infrastructure & housing, media & entertainment, consumer merchandise retail venture, manufacturing and information technology. The company has a market capitalisation of US$25.94 billion as of March 2011.[2] The group is a major promoter of sports in India. It owned the New IPL team Pune Warriors India. Sahara is the main sponsor of the Indian cricket Team. They own 42.5% stake in Formula One's Force India Formula 1 Team and also sponsors India national field hockey team.[3] The Brand Trust Report listed Sahara in the top 100 most trusted brands of India. The report was published by Trust Research Advisory.[4]
Subrata Roy Sahara
Subrata Roy Sahara | |
|---|---|
| File:Subrata Roy Sahara.jpg |
He is named among the 10 Most Powerful People of India by India Today. His residence is in Lucknow, Uttar Pradesh, India. Subrata Roy Sahara founded Sahara India Pariwar in 1978.
Sahara Real Estate
The flagship real estate project of Sahara Sahara City Homes chain of townships is proposed to be across 217 cities in India.[5] In 2011 it launched Sahara Grace brand Phase II, a residential complex at Kochi.[6] After Sahara Grace at Gurgaon and Lucknow the Kochi project is the third under this brand which is positioned to provide a product mix of apartments and penthouses to its residents[citation needed]. Other ventures of Sahara real estate business are Sahara States – Kanpur, Lucknow, Gorakhpur, Hyderabad and Bhopal, Brand malls – Sahara Ganj, Lucknow and Sahara Mall, Gurgaon.[7]
Aamby Valley City
Sahara has constructed Amby Valley City in Maharashtara near Lonavala off the Mumbai Pune Expressway. The city is spread over 10,600 acres of land.[8]
Sahara Prime City Limited
The Sahara Prime City Limited operate in consultancy with foreign multinational Turner Construction Company. It entered the Indian construction and infrastructure sectors.[9] Sahara Prime City Limited, the real estate flagship company of Sahara India Pariwar, alongside Turner Construction Company, America’s largest building construction contractor and the Acropolis Capital Group, a development and investment-related corporate entity, has formed a joint venture to serve the construction and development market in India. The company, Sahara Turner Construction Limited was launched by Subrata Roy Sahara - Managing Worker & Chairman, Sahara India Pariwar, Mr. Nicholas E. Billotti - President and C.E.O., Turner Construction International and Mr. Annat Jain - Managing Partner, Acropolis Capital Group.[10]
Sahara Sports
Pune Warriors India
Sahara Adventure Sports Limited acquired Pune Warriors India, a franchise cricket team that plays in the Indian Premier League (IPL) for Rs. 1702 crores ($370 million).[11] The team was one of two new franchises added to the IPL for the 2011 season, alongside the Kochi Tuskers Kerala. The bid for the Pune franchise on 21 March 2010, is the highest bid by any company in the history of IPL.[12] The Subrata Roy Sahara Stadium outside Pune is the home ground of the team.
Force India Formula 1 Team
In October 2011, Sahara acquired 42.5% of the Force India Formula 1 Team for an estimated $US 100 million.[13] [14]
Sahara Warriors Polo Team
In 2012,Sahara launched the Polo Team. It also played in the India Polo Masters 2012.The team consists of renowned players such as Samir Suhag, Adhiraj Singh, George Meyrick, Max Charlton and Siddhant Sharma.[15]
Celebrity Cricket League
Celebrity Cricket League is a cricket league involving Bollywood, Sandalwood (Kannada), Tollywood (Telugu) and Kollywood (Tamil) film industry cricket teams. It was started in 2010 and takes place every year.
Sahara India Sports Awards
Sahara Sports Awards is an annual sports awards provided each year to the best Indian sport stars of various sports. It is organised by Sahara Group. It is popular in India and abroad. Sahara also sponsors the IPL Awards.
Uttar Pradesh Wizards
In July 2012, Sahara India Pariwar has picked up the Lucknow franchise of the upcoming Hockey India League (HIL). Sahara India is the owner of the Lucknow team Uttar Pradesh Wizards in HIL which will see six teams competing against each other.[16] The following players were bought in the official 2013 Hockey India League Players Auction on 16 December 2012.[17]
V. R. Raghunath- Tushar Khandker
- Sidharth Shankar
- M. Gunasekar
- Vivek Dhar
- Rocky Lohchab
- P.L. Thimmanna
Teun de Nooijer- Sander Baart
Eddie Ockenden
David Alegre- Marcel Balkestein
- Wouter Jolie
- Jason Wilson
- Bold = Marquee player.
Sports Sponsorships
Sahara has had sponsorship rights for the Indian Cricket Team since 2001. In 2005, Sahara had bagged the sponsorship for the Indian Cricket Team for ₹400 crore (US$48 million) for a four-year period ending December 2009, and had agreed to continue for six more months as Board of Cricket Control in India could not find any sponsors. In May 2010, the group re-secured the sponsorship rights for the Indian men's cricket team till December 31, 2013. Sahara outbid Indian telecommunications services company Bharti Airtel for the right to sponsor Team India for ₹3.3 crore (US$400,000) per match. Sahara and Airtel had submitted the eligibility documents and security deposits on Saturday and the bid was submitted on Monday and thereafter, BCCI's marketing committee decided the new sponsor of the India team.[18]
- Teams and Events Sponsored by Sahara:
Media
Electronic Media
The group owns the national Hindi News Channel Samay, consisting of 36 city specific regional news channels Sahara Samay.
Sahara One- A General entertainment channel.
Filmy- A Hindi movie channel.
Firangi- An entertainment channel.
Sahara Samay received the "Broadcast Engineering Excellence Award" in 2008 for its network newsroom technology.[19]
Print Media
The group owns publishes and sells one magasine in English, 7 editions of Hindi Daily Newspaper Rashtriya Sahara, nine editions of Urdu Daily Newspaper Roznama Rashtriya Sahara and one International Urdu Weekly, Rashtriya Sahara[20]
Film & Entertainment
The group is engaged in business of producing, marketing and distribution of motion pictures in Hindi and other regional Indian languages. Its successes include Bewafaa, Page 3, Sarkar, No Entry, Wanted.[21] In September 2010, the company was in talks to acquire MGM Studios, but the deal collapsed.[22][23] Sahara is willing to try again to take over MGM.[24]
Sahara is creating a Film City inclusive of infrastracture Sahara can utillise to sell to filmmakers software and other things to make movies, advertisements and tv programmes. The existing infrastructure of the Film City will be renovated and equipped with the most modern and latest technology[citation needed].
Hospitality
- Dream Downtown - New York
On 31 July 2012, India's business group Sahara India Pariwar agreed to buy a controlling stake in New York's landmark Plaza Hotel for US$570 million, Elad Properties, an Israeli-owned real estate company, said on Monday.[25]
The group also owns the Grosvenor House Hotel in London (UK).[26]
- Sahara Star - Mumbai
The group owns the hotel "Sahara Star" in Mumbai, a 5-Star Hotel spread over 7.42 acres adjacent to the Chhatrapati Shivaji International Airport. Currently it has 210 guest rooms, 13 suites and 9 restaurants. It contains World's largest pillarless clear-to-sky dome of its kind,[27] World's first Hemisphere-shaped Glass Elevators,[27][28] Marine Aquarium, Lagoon area, Inward and Outward facing rooms, Glass Roof rooms, Parking and shall have amenities like Sahara Health and Wellness Centre, Multi-cuisine restaurants and Preview theatre[citation needed].
Finance
Sahara India Life Insurance Company Ltd. SILICL), is a Life Insurance Company in the private sector. (cn) The company offers life insurance policies catering to individuals of all ages and segments.
- Life Insurance
- Mutual Fund
"Sahara Q Shop"
On 13 August 2012, Sahara India announced the opening of their retail FMCG business named 'Q shop' (Quality shop) with an initial investment of Rs. 3000 crore. Sahara also announced the hire of 600,000 sales personnel and 3000 customer care executives.[29] At its launch, Subrata Roy said that Sahara had been planning for this venture for the last two years and was opening 'Q shops' in major cities across the country to provide adulteration-free consumer merchandise including processed food and beverages to buyers.[30] The group said it would set up 305 warehouses in 285 cities in a phased manner.
The range of consumer merchandise that would be made available in the 'Q shop' includes staples, processed food, beverages, packed drinking water, personal care, home care, general merchandise and handicraft products.[31]
Power
Sahara Power has signed Memorandum of Understanding (MOU) with the Government of Orissa for setting up a 1320 MW (2 x 660) Coal Based Thermal Power Plant in Turla Tehsil of Balangir District, Orissa at an investment of about Rs.5604 Cr. Sahara India Power Corporation Limited has also proposed to set up a 2000 MW Coal based power plants in Jharkhand and Chhattisgarh at an estimated investment of Rs. 8000 Cr. each.
Health care
The group owns a hospital in Lucknow. The hospital was opened in 2009. This hospital got operational in February 2009 and is currently operating with approximately 350 beds, including 120 bed Critical Care Infrastructure and expandable to 554 beds. It is spread on 31 acres and as a Multispecialty, Tertiary care destination, Sahara Hospital offers a high order of integrated quality healthcare with the availability of all super specialties and latest generation diagnostic facilities under one roof.[32]
Other Business
IT
Sahara India Pariwar IT Division is named as "SAHARA NEXT". Sahara Next works on different domains like Banking, Finance,Media and Entertainment, Chemical and CRM. Sahara has clients all over the world including Malaysia, Singapore, USA[citation needed].
Tourism
The group has launched Sahara Global - an integrated travel and tourism agency that sells domestic and international services.[33][34]
Handicrafts
The Araria Jute Project is engaged in creating diversified jute products e.g. Blankets, Carpets, Floor covering, Handicrafts, Jute Chappals etc.
Education
- International School Amby - Amby Valley, Pune
- Sahara College Of Nursing & Paramedical Sciences, Lucknow
Sahara Airlines (Sold in 2006 to Jet Airways)
The airline was established on 20 September 1991 and began operations on 3 December 1993 with two Boeing 737-200 aircraft as Sahara Airlines. Initially services were primarily in the northern sectors of India, keeping Delhi as its base, and then were extended to cover all the country. The airline was rebranded as Air Sahara on 2 October 2000, although Sahara Airlines remains the carrier's registered name. On 22 March 2004 it became an international carrier with flights from Chennai to Colombo. The Airline was sold to Jet Airways for ₹1450 crore on 12 April 2007.
Supreme Court ruling
In 2012 India's Supreme Court ordered two of Sahara's units to re-pay 174 billion rupees ($3.12 billion) to investors within the next three months with 15% interest.[35] Sahara started the offering in 2001 and closed it in 2007. Subsequently, it submitted its prospectus giving details of 1.97 crore investors to the concerned Registrar of Companies (RoC). The number of investors, above 50, was not objected to by the authorities. Then in 2008, the two companies took permissions again from two different RoCs to raise funds through optionally fully convertible debentures (OFCDs), through the private placement route and raised money from about three crore investors, all of whom were claimed to be people associated with the Sahara group. In 2009, when Sahara Prime City, one of the group companies approached Sebi to go public, the regulator suddenly asked SIRECL and SHICL to refund all the OFCD money to investors. That began the battle. In April 2010, Sebi forwarded some OFCD investor complaints to RoCs in UP and Maharashtra. In its letter Sebi said that these Sahara companies were unlisted and had not filed prospectus for raising funds with it, and requested the two RoCs "for examination (of the complaints) and necessary action". Around this time, in another case relating to an unlisted entity, Sebi said that its primary mandate was over listed entities, and requested MCA to look into allegations against unlisted companies. Around the same time, backed by inputs from an executive director of Sebi, MoS finance Namo Narayan Meena told the Lok Sabha that privately placed debentures by unlisted companies, issued under the Companies Act, were under the regulatory purview of MCA and not Sebi. In this period, four former judges, V N Khare and A H Ahmadi, both former SC chief justices, S P Kurudkar, who was also in the SC and C Achutan, who was a member of SAT, gave separate opinions saying that MCA had the jurisdiction over OFCDs issued by SIRECL and SHICL.[36] Initially, government opinion favoured Sahara. In early 2011, when Salman Khurshid was the corporate affairs minister and Veerappa Moily was law minister, Additional Solicitor General Mohan Parasaran had said that unlisted companies, like Sahara India Real Estate Corporation and Sahara Housing Investment Corporation, should be regulated by the ministry of corporate affairs and not Sebi. In July 2011, Khurshid and Moily swapped portfolios and the scenario changed: the ministry of corporate affairs now said that Sebi and it would work in tandem and the market regulator had full jurisdiction over public issues.[37] Sahara India Pariwar field workers have urged stock market regulator Sebi to adopt a rational approach while dealing with the issue of accepting documents relating to three crore investors.[38] The company says it is willing to submit the documents and it was scheduled to deposit the details with Sebi within a specified time period. The Sahara group moved the Supreme Court for review of the order to refund Rs 24,000 crore to its investors, saying that the verdict casts "serious aspersions" upon the firm's business ethics without any basis.[39]
References
- ^ http://www.ndtv.com/video/player/your-call/your-call-with-subrata-roy-sahara/232196
- ^ Financial Statement of the Group
- ^ Sahara India. "Sahara India Pariwar:: Sahara Next | World's Largest Family". Sahara.in. Retrieved 2012-09-30.
- ^ ALL INDIA BRAND TRUST RANKING, Trust Research Advisory, February 23, 2011
- ^ Sahara lines up Rs 800 crore for each City Home, Rediff.com, August 8, 2006
- ^ Sahara Grace launched phase II, IBNlive, September 16, 2011
- ^ Sahara Group enters real estate, Economic Times, February 5, 2008
- ^ THE GOOD LIFE, INDIA TODAY, February 15, 2008
- ^ Sahara launches construction JV with Turner, rel="nofollow",REUTERS, February 9, 2012
- ^ Sahara launches JV with US based Turner Construction, rel="nofollow",Economic Times, February 9, 2012
- ^ 2 New IPL Team, TImes of India, March 22, 2010
- ^ Sahara Pune Warriors Squad – IPL 2011. Freezonal.com (2011-01-15). Retrieved on 2011-12-30.]
- ^ "Sahara Group takes 42.5% stake in Force India Formula One team". The Guardian. The Guardian, UK. 12 October 2011. Retrieved 12 October 2011.
- ^ "Sahara buys 42% stake in Mallya's Force India F1 team". The Times of India. Times News Network. 12 October 2011. Retrieved 12 October 2011.
- ^ "Sahara India Pariwar launches Polo team Sahara Warriors". 22November2012.
{{cite news}}: Check date values in:|date=(help) - ^ "Sahara to own hockey franchise". 24 July 2012.
- ^ Das, Devadyuti. "IPL-style auction brings big bucks to hockey". Times of India. Retrieved 16 December 2012.
- ^ Sahara to continue as Indian team sponsor, ESPNCRICINFO, May 31, 2010
- ^ Samay bags international honour, ECONOMIC TIMES, April 6, 2005
- ^ Sahara plans three weekly newspapers, rediff.com, February 1, 2003
- ^ Sahara One Motion Pictures - a banner in the right direction, IndiaGlitz.com,September 5, 2006
- ^ Indian Congolomerate In Talks About MGM Bid, Reuters, September 18, 2010
- ^ Sahara Says MGM Studio Creditors Reject $2 Billion Bid, Google.com, September 24, 2010
- ^ Sahara Still Committed to Finalizing MGM Bid, Hollywood Reporter, September 29, 2010
- ^ "Sahara checks into iconic New York hotel". Hindustan Times. 2012-07-31. Retrieved 2012-09-30.
- ^ Sahara buys UK hotel for Rs 3,275cr, TImes of India, December 31, 2010
- ^ a b Sahara group forays into hospitality sector, DNA, Jun 19, 2007
- ^ Sahara Star Hotel Mumbai Airport, mumbaiairporthotel.com, Jun 11, 2010
- ^ Sahara enters retail, to launch 800 'Q' Shops, Business Today, Aug 16 2012
- ^ Sahara in Rs. 3,000-cr ‘Q Shop’ retail foray, Hindustan Times, Aug 13 2012
- ^ Sahara to enter retail, IBN Live, Aug 14 2012
- ^ Nawabi Entry in Healthcare, Express Healthcare, April 1, 2009
- ^ Sahara Global launches travel show
- ^ Sahara Global launches 'Celebrate Life'
- ^ Business Standard. "The opaque world of Sahara". Business-standard.com. Retrieved 2012-09-30.
{{cite web}}:|author=has generic name (help) - ^ Times of India (2013-01-01). "Unanswered questions raised by Sebi-Sahara battle". http://timesofindia.indiatimes.com. Retrieved 2012-09-08.
{{cite web}}: External link in|publisher= - ^ Business Standard. "Sebi vs Sahara". Business-standard.com. Retrieved 2012-09-08.
{{cite web}}:|author=has generic name (help) - ^ Business Standard. "Sahara field workers want Sebi to be 'rational'". timesofindia.indiatimes.com. Retrieved 2012-09-29.
{{cite web}}:|author=has generic name (help) - ^ Outlook India. "Sahara Seeks Review of SC Verdict to Refund Rs 24k Cr". outlookindia.com. Retrieved 2012-10-05.