The legendary Karsanbhai became a household name, courtesy a detergent that became ‘sabki pasand’. Can his son Hiren recreate that magic?
Nine years after delisting from stock exchanges, the Nirma group is making a comeback to the capital markets. And leading the charge this time around is Hiren Patel, son of the legendary Karsanbhai Patel, who made history by briefly humbling the mighty Hindustan Unilever Ltd (then called Hindustan Lever Ltd) with a home-made detergent in the 1980s.
The junior Patel heads the Ahmedabad-based group’s cement arm, Nuvoco Vistas Corp. Ltd, which has filed its prospectus with the Securities and Exchange Board of India to raise around Rs 5,000 crore through an initial public offer, sometime in June or July.
Nuvoco …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai