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'''Essel Group''' is an Indian ] ] headquartered in ], ], ]. It was founded in 1926 as the Messrs Ramgopal Indraprasad by Jagannath Goenka. The company was expanded and converted into the Essel Group of Industries by the chairman ].<ref>{{Cite web|title=From ‘Okara Dukaan’ to Zee… the complete story|url=https://www.mxmindia.com/2012/10/from-okara-dukaan-to-zee-the-complete-story/|last=|first=|date=1 October 2012|website=MxMIndia|url-status=live|archive-url=|archive-date=}}</ref><ref>{{Cite web|title=India Inc's Crown Jewels At Risk- Business News|url=https://www.businesstoday.in/magazine/the-hub/india-inc-crown-jewels-at-risk/story/332850.html|last=Pratap|first=Rashmi|date=21 April 2019|website=]|url-status=live|archive-url=|archive-date=}}</ref> The company has business enterprises in ], ] and ].<ref>{{Cite web|title=Essel Group in talks to raise $400 million to refinance debt|url=https://www.livemint.com/Companies/TVdcldqh0yIAWbEMLyTRkN/Essel-Group-in-talks-to-raise-400-million-to-refinance-debt.html|last=Chaki|first=Deborshi|date=2019-01-09|website=]|language=en|url-status=live|archive-url=|archive-date=}}</ref> Notable subsidiaries of the company include ], ], ] and ]. '''Essel Group''' is an Indian ] ] headquartered in ], ], ]. It was founded in 1926 as the Messrs Ramgopal Indraprasad by Jagannath Goenka. The company was expanded and converted into the Essel Group of Industries by the chairman ].<ref name=":0">{{Cite web|title=From ‘Okara Dukaan’ to Zee… the complete story|url=https://www.mxmindia.com/2012/10/from-okara-dukaan-to-zee-the-complete-story/|last=|first=|date=1 October 2012|website=MxMIndia|url-status=live|archive-url=|archive-date=}}</ref><ref>{{Cite web|title=India Inc's Crown Jewels At Risk- Business News|url=https://www.businesstoday.in/magazine/the-hub/india-inc-crown-jewels-at-risk/story/332850.html|last=Pratap|first=Rashmi|date=21 April 2019|website=]|url-status=live|archive-url=|archive-date=}}</ref> The company has business enterprises in ], ] and ].<ref>{{Cite web|title=Essel Group in talks to raise $400 million to refinance debt|url=https://www.livemint.com/Companies/TVdcldqh0yIAWbEMLyTRkN/Essel-Group-in-talks-to-raise-400-million-to-refinance-debt.html|last=Chaki|first=Deborshi|date=2019-01-09|website=]|language=en|url-status=live|archive-url=|archive-date=}}</ref> Notable subsidiaries of the company include ], ], ] and ].


== History == == History ==


=== 1926-1967 === === 1926-1967 ===
In 1926, Jagannath Goenka founded the Messrs Ramgopal Indraprasad as a commercial firm to deal in ]<nowiki/>s at the ''mandi'' (]) in ]. In 1946, the firm ceased operations in Adampur and was moved to the town of ] as a result of poor business in Adampur. In 1948, Jagannath Goenka attempted to expand his business by setting up a ] polishing factory in ] but suffered heavy losses and was forced to abandon the establishment and move the machinery to Hisar in 1951. The new units began operating in Hisar and were able to turn profits by selling polished ]<nowiki/>s to ] and ]. By 1966, the firm was operating one ] ] and two ] factories.<ref name=":0" />


=== 1967-1991 === === 1967-1991 ===

Revision as of 04:56, 8 May 2020

Essel Group
Company typePrivate
IndustryConglomerate
Founded1926; 99 years ago (1926)
FounderJagannath Goenka
HeadquartersMumbai, India
Area servedWorldwide
Key peopleSubhash Chandra (Chairman)
ProductsMedia, entertainment, packaging, infrastructure, education, precious metals and technology
RevenueUS$2.4 billion (2017)
Number of employees10,000 (2011)
DivisionsSee below
Websitewww.esselgroup.com

Essel Group is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. It was founded in 1926 as the Messrs Ramgopal Indraprasad by Jagannath Goenka. The company was expanded and converted into the Essel Group of Industries by the chairman Subhash Chandra. The company has business enterprises in mass media, infrastructure and packaging industry. Notable subsidiaries of the company include Zee Media Corporation, Zee Entertainment Enterprises, Siti Networks and Essel Propack.

History

1926-1967

In 1926, Jagannath Goenka founded the Messrs Ramgopal Indraprasad as a commercial firm to deal in food grains at the mandi (Product market) in Adampur, Hisar. In 1946, the firm ceased operations in Adampur and was moved to the town of Hisar as a result of poor business in Adampur. In 1948, Jagannath Goenka attempted to expand his business by setting up a pulses polishing factory in Delhi but suffered heavy losses and was forced to abandon the establishment and move the machinery to Hisar in 1951. The new units began operating in Hisar and were able to turn profits by selling polished whole grains to Gujarat and South India. By 1966, the firm was operating one dal mill and two cotton ginning factories.

1967-1991

1991-Present

Subsidiaries

The companies under the group are:

Media

Zee Entertainment Enterprises

The company was launched in 15 December 1991 as Zee Telefirms Ltd as the Essel group's venture into mass media and entertainment The company launched its first television channel (Zee TV) on 1 October 1992. The channel is currently the flagship channel of the company which owns a variety of channels under the brand name of Zee.

The company was registered on the BSE Sensex from 2000–2005. In 2006, the company was split with the Zee Telefirms Ltd, Zee News Ltd and Wire & Wireless India Ltd.

The company acquired a majority stake (51%) in ETC Networks. In 2006, they acquired Integrated Subscriber Management Services Limited, and in November 2006, it acquired an 50% stake in Taj television, owner of TEN Sports. On that same year, the company was rebranded as Zee Entertainment Enterprises. In 2006, the brand name was changed to Zee Entertainment Enterprises Ltd.

In 2008, Zee Networks launched Zee Motion Pictures and Zee Limelight (now Zee Studios) for the development, production, distribution and marketing of mainstream films in Indian languages, including Hindi, Tamil, Telugu, Kannada, Malayalam, Bengali and Marathi. Some of Zee Studios's productions include Gadar: Ek Prem Katha, Natsamrat, Sairat and Rustom.

In February 2010, the business acquired an additional stake (95%) in TEN Sports.

In May 2011, Star Den entered into a 50/50 joint venture with Zee Turner and Zee Entertainment Enterprises (ZEEL) to distribute and market all channels owned by the company and ZEEL, their respective affiliated channels and other third-party channels in India, Nepal and Bhutan.

In 2015 Zee acquired Sarthak TV, an Odia-language pay-television channel. One year later, on 28 July 2016, it launched Zee One, aimed at the German market. A Polish version of the channel was launched in 2017.

In 2016, Zee launched Zee Mundo, a Spanish-language Bollywood movie channel targeting Latin America.

In 2017, the company acquired the majority stake of the Reliance Broadcast Network. It also fully purchased 9X Media and INX Music. A partially-owned subsidiary, Diligent Media Corporation, is a publisher of Indian daily newspapers and websites. DMC is a joint venture between Zee and the Dainik Bhaskar Group.

It also owns a music label, Zee Music Company.

Zee Media Corporation

Main article: Zee News

Infrastructure

Packaging

Others

Charity

Recent developments (2019–present)

Debt and recovery

During February 2019 reports appeared in the media that Essel Group is in talks to sell their shares from the Zee Entertainment Enterprises to pay off the debt.
Sony Corporation, Comcast-Atairos, a firm lead by American cable gaint Comcast are shortlisted for the bid. However they are competing with technology giant Apple Inc. and Reliance Industries

Top Sony officials including Mike Hopkins, chairman of Sony Pictures Television, and Tony Vinciquerra, chairman of Sony Pictures Entertainment, had visited Subhash Chandra and his family at his residence shortly after Chandra announced his intent to sell half of the promoter holding in Zee Entertainment Enterprises to a global strategic investor.

On April 2 reports saying that some other promoters sell their share worth 332 cr.

On April 3 media reports Sony and Zee Entertainment Enterprises deal off for now amid valuation differences.which is open the door for Comcast-Atairos

On August 1 reports Invesco Oppenheimer Fund to buy 11% stake in Zee Entertainment

See also

References

  1. "About Essel Group | Zee Learn".
  2. ^ "From 'Okara Dukaan' to Zee… the complete story". MxMIndia. 1 October 2012.{{cite web}}: CS1 maint: url-status (link)
  3. Pratap, Rashmi (21 April 2019). "India Inc's Crown Jewels At Risk- Business News". Business Today (India).{{cite web}}: CS1 maint: url-status (link)
  4. Chaki, Deborshi (9 January 2019). "Essel Group in talks to raise $400 million to refinance debt". Livemint.{{cite web}}: CS1 maint: url-status (link)
  5. "Subhash Chandra on Zee, DNA & Essel". Rediff.com. Retrieved 16 July 2010.
  6. Agarwal, Amit (12 July 2013). "Subhash Chandra makes television history with Zee TV began life running a flour-mill". India Today (published 15 August 1994). Retrieved 28 February 2020.{{cite web}}: CS1 maint: url-status (link)
  7. "Zee Telefilms demerges into 3 firms". Business Standard. 14 December 2006. Retrieved 28 February 2020.{{cite news}}: CS1 maint: url-status (link)
  8. "Zee Group launches two motion picture production banners". Business of Cinema. 2008.
  9. Zee Entertainment Acquires Sarthak Entertainment
  10. Bindu D Menon. "Zee buys Anil Ambani's TV, radio biz for ₹1,900 cr | Business Line". Thehindubusinessline.com. Retrieved 23 November 2017.
  11. "Zee Entertainment fully acquires 9X Media and INX Music in Rs 160-crore cash deal". Firstpost.com. Retrieved 23 November 2017.
  12. "Indian Newspapers and News Sites". w3newspapers.com. Retrieved 18 October 2014.
  13. "Essel Group". Essel Group. Retrieved 30 August 2010.
  14. "Essel Group suspends satellite platform for cable". Financialexpress.com. 15 March 2010. Retrieved 16 July 2010.
  15. Hermann Simon mentioned this company in his correspondent book as an example of a "Hidden Champion". (Simon, Hermann: Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer, 2009. ISBN 978-0-387-98147-5.)
  16. ": : : About Essel Group : : :". Ecityfilms.com. 28 February 2006. Archived from the original on 4 April 2011. Retrieved 16 July 2010.
  17. "Best Animation, VFX and Design Institute India - ZICA". zica.org.
  18. "Essel Group bets big on education". The Hindu Business Line. Retrieved 16 July 2010.
  19. "zeeq.in". zeeq.in.
  20. "Best Private University in India | Best Private University in Dehradun Uttarakhand - HZU". Himgiri Zee University.
  21. ^ Laghate, Gaurav; Barman, Arijit (19 February 2019). "Comcast-Atairos, Sony shortlisted for stake sale talks by Zee Entertainment" – via The Economic Times.
  22. "Zee Entertainment shares wobble after share sale by promoters". 2 April 2019 – via The Economic Times.
  23. "Zee Entertainment down 3% after promoters sell stake". Moneycontrol.
  24. Laghate, Gaurav; Barman, Arijit (3 April 2019). "Sony, ZEE deal off for now amid valuation differences" – via The Economic Times.
  25. Thomas, Tanya (31 July 2019). "Invesco Oppenheimer fund to buy 11% stake in Zee Entertainment for ₹4,224 cr". Mint.

External links

Essel Group
Key people
Companies
Properties
Zee Entertainment
Enterprises
Subsidiaries
Brands
India
International
Zee Media
Corporation
Subsidiaries
Brands
Dish TV
Subsidiaries
Zee Learn
Educational institutions
  • Zee Institute of Media Arts
  • Zee Institute of Creative Arts
  • Himgiri Zee University, Dehradun
Brands
  • Kidzee
  • Mount Litera Zee
  • Mount Litera World
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