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February 13, 2016 8:51 AM ET

Industrial Conglomerates

Company Overview of Sahara India Pariwar Ltd.

Company Overview

Sahara India Pariwar Ltd. operates as a business conglomerate. The company, through its subsidiaries, offers life insurance plans, asset management services, mutual funds in debt and equity segments, and housing finance solutions. It also engages in building gated townships, luxury residences, leisure and entertainment facilities, indoor and outdoor sports facilities, restaurants and banquets, hotels, hospitals, and other residential and commercial building projects; acquiring and building national and international hotels, convention centers, golf resorts, and project investments; and providing real estate and lifestyle services. In addition, the company operates a power plant to generate p...

Sahara Shaher

Gomti Nagar

Lucknow,  10

India

Founded in 1978

Phone:

91 52 2230 4260

Fax:

91 52 2239 5411

Key Executives for Sahara India Pariwar Ltd.

Chairman and Managing Worker
Age: 62
Executive Director
Age: 35
Asst General Manager of Sahara India Product Division
Compensation as of Fiscal Year 2015.

Sahara India Pariwar Ltd. Key Developments

Sahara India Plans To Sell Sahara Star Hotel, F1 Team And Aircrafts

Sahara India Pariwar Ltd. has moved the Supreme Court seeking its nod for selling Sahara Hospitality Limited, Force India Formula One Team Limited and its four aircrafts. This would help it garner around INR 3 billion.

Sahara Reportedly Nears Sale of Grosvenor House To Qatar

Sahara India Pariwar Ltd informed the Supreme Court of India that it is close to an agreement to sell the Grosvenor House Hotel to the State Of Qatar, according to three people familiar with the matter. A spokesman for Qatar wasn't immediately available for comment.

Firms Eyeing Sahara’s Overseas Assets

Sahara India Pariwar Ltd.’s assets may be sold. Two foreign firms filed separate applications in the Supreme Court seeking approval to acquire Sahara’s three hotels for nearly INR 120 billion, but the company has rejected the offers saying that it was getting INR 380 billion for the overseas properties. APJ Chambers filed the two applications. On behalf of Kane Capital Partners Limited has filed to bid for Grosvenor House Hotel for INR 63.7 billion. Madison Capital, LLC is eyeing Dream Downtown Hotel and The Plaza Hotel for INR 55 billion. Kane’s senior advocate, Subramaonium Prasad said that its bid for Grosvenor House alone would satisfy the liability of Sahara group towards Bank of China's loan. APJ’s Prashant Kumar said, “When my client sent the final offer along with letter of intent for buying 70% of stakes in the Plaza and 80% in Dream Downtown to the concerned person, it was asked to forward it to Lalit Modi in London. It was told that Lalit Modi would take a call on behalf of Sahara.”

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 2, 2016
Grosvenor House Hotel
Merger/Acquisition
August 3, 2015
45.71 acres of Land in Gorakhpur, Uttar Pradesh
 

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