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April 18, 2015 4:16 PM ET

Industrial Conglomerates

Company Overview of Wadia Group

Company Overview

Wadia Group operates in aviation, textiles, chemicals, plantations, engineering, healthcare, real estate, retail, and auto components industries. It operates daily flights and weekly flights across the Indian subcontinent; manufactures and sells linens, towels, home furnishings, leisure clothing, kids wear, and a range of other products through its retail stores and other multi-brand stores; produces and sells biscuits; develops and sells residences, hospitals, offices, hotels, serviced apartments, branded residences, schools, and retail projects; and provides engineering and management consulting services, including pre-design studies, design engineering consultancy, and project management ...

C1- Wadia International Centre

Pandurang Budhkar Marg

Mumbai,  400025


Founded in 1736


91 22 690 2780


91 22 613 2554

Key Executives for Wadia Group

Executive Director of Go Air
Compensation as of Fiscal Year 2014.

Wadia Group Key Developments

Sources Say Three PE Firms Eyeing Bombay Dyeing

Private equity firms are eyeing Wadia Group’s unit, The Bombay Dyeing and Manufacturing Company Limited (BSE:500020). Merchant banking sources stated that three firms are in talks to jointly acquire an up to 24% stake in Bombay Dyeing. The news report mentioned that deal could be valued at over INR 5 billion. Sources also mentioned that the exclusivity period of the due diligence is likely to end in a few days' time. According to news report, Bombay Dyeing spokesperson declined to comment terming it as speculation while phone calls and text messages to Bombay Dyeing Managing Director, Jeh Wadia did not receive any response. Also, the Bombay Dyeing spokesman said in an email that ‘the company does not wish to comment on baseless and false rumors’. Banking sources stated that WL Ross and Co. LLC, Sequoia Capital, and J.C. Flowers & Co. LLC are among the potential suitors. Sources said that due diligence process was in an advanced stage and that the Wadias plan to use the sale proceeds for Bombay Realty. According to the report, Promoters currently own about a 52.3% stake in Bombay Dyeing, while domestic institutions and foreign funds together have about 20%.

Wadia Group To Sell Properties

Wadia Group are seeking to sell the prime property of Britannia Garden estate in Bangalore and a 8.5 acre property in Chennai to raise close to INR 7 billion. However, due to the economic slowdown, the company is unable to find a suitable buyer. A Britannia Industries Limited (BSE:500825)'s official said, "Britannia is moving to a larger office in Bangalore. The company has indeed advertised to sell its Chennai property." closed at INR 738 on September 10, 2013.

GoAir Reportedly In Talks To Sell Its 49% Stake

Go Airlines Pvt., Ltd. is reportedly looking for a buyer for its 49% stake. GoAir, part of the Wadia Group, has appointed JPMorgan Chase & Co. to look for a foreign strategic partner to buy up to 49% in the low-cost passenger carrier, four people close to the development said. The potential buyer include Deutsche Lufthansa Aktiengesellschaft (DB:LHA), Qatar Airways and The Emirates Group. "GoAir is in talks with three to four overseas airlines from Europe and the Middle East to sell up to 49% stake," an investment banker with direct knowledge of the development said. "The company is in talks with German carrier Lufthansa and Dubai-based Emirates and Qatar Airways, among others," said a second investment banker involved in the deal. "As a company policy, the airline does not comment on market speculation," GoAir's spokesperson said to Economic Times.

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