Nishat Group's origins goes 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.[8] 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:
In February 2017, it was announced that both companies are venturing to assemble cars in Pakistan.[4]
In March 2017, it was announced that Nishat Group will setup their first plant in Faisalabad, Pakistan, which will assemble electric cars.[3] Nishat Group will have a 42% stake in the venture.[3]
Nishat Agriculture Farms
Nishat Agriculture Farms Limited (NAFL), is a subsidiary of Nishat Group focused on agriculture and farming. It has made substantial investments in agriculture since its inception in 2013. The company currently manages five farms spanning 1,500 acres, including a state-of-the-art dairy farm producing packaged milk in collaboration with a Turkish partner.
In 2024, the company announced its plans to invest in corporate farming.[18]
