K K Birla group’s fertiliser biz to be co-shared

K K Birla group’s fertiliser biz to be co-shared
PTI
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First Published: Tue, Sep 16 2008. 05 24 PM IST
Updated: Tue, Sep 16 2008. 05 24 PM IST
Kolkata: The fertiliser businesses of K K Birla Group would be co-shared among the Poddar, Bhartia and Nopany families.
The group’s two fertiliser companies —Zuari Industries Limited and Chambal Fertilisers — would have Saroj Kumar Poddar, son-in-law of late K K Birla, as Chairman.
Zuari Industries informed the Bombay Stock Exchange (BSE) that at the board meeting held today, Saroj Kumar Poddar, who is married to Birla’s second daughter Jyotsna, has been appointed Chairman with immediate effect.
The other company, Chambal Fertilisers, also informed the BSE that Saroj Kumar Poddar would be the Chairman of the board, Shyam S Bhartia, co-Chairman and Chandra Sekhar Nopany, son of Birla’s eldest daughter Nandini Nopany, Additional Director.
While Zuari’s stock was quoted at Rs261 on the exchanges, Chambal Fertiliser’s share was hovering at around Rs61.
The complete succession plan of the K K Birla Group was unveiled with the two companies announcing the new Chairman and others who would co-share the flagship business area of the group.
Noted industrialist K K Birla, who passed away on 30 August, has left behind a huge diversified group with an annual turnover of Rs10,000 crore.
The sugar and textile businesses of the group would be looked after by Chandra Sekhar Nopany.
The engineering units and Texmaco would go to Saroj Poddar and the media business would be looked after by Birla’s youngest daughter Shobhana Bhartia.
The group has almost 15 companies, some of which were listed and some closely held.
Birla also created several modern institutions, including Birla Institute of Technology, Pilani.
He also set up the K K Birla Academy to undertake research on scientific, cultural and historical subjects.
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First Published: Tue, Sep 16 2008. 05 24 PM IST