ESSEL Group-Company Profile, Overview & News Updated
An Indian multinational conglomerate holding corporation and corporate promoter with its headquarters in Mumbai, Maharashtra, India is the Essel Group (also known as Zee Group).
About Essel Group: An Indian multinational conglomerate holding corporation and corporate promoter with its headquarters in Mumbai, Maharashtra, India is the Essel Group (also known as Zee Group). The company has commercial interests in infrastructure, packaging, and mass media.
It runs Zee Media Corporation’s subsidiary. The company has commercial interests in infrastructure, packaging, and mass media. It runs Zee Media Corporation’s subsidiary.
Essel has sold off a number of its assets, notably Essel Propack and shares in Zee Entertainment Enterprises, due to its heavy debt burden.
Jagannath Goenka established the Messrs Ramgopal Indraprasad in 1926. His grandson Subhash Chandra later developed the business and changed its name to the Essel Group of Industries.
History Essel Group
Chandra, who was the company’s chairman and a Rajya Sabha member supported by the Bharatiya Janata Party, is a member of the Goenka (Goel) family, which owns and runs the organization.
Jagannath Goenka established Messrs. Ramgopal Indraprasad in 1926 as a business to trade in grains at the mandi (product market) in Adampur, Hisar. Due to subpar results in Adampur, the company relocated to Hisar in 1946.
Goenka sought to grow the company in 1948 by establishing a facility in Delhi to polish pulses, but he experienced significant losses and was forced to stop operations there in 1951.
He relocated the Delhi equipment to Hisar, where he sold polished whole grains to Gujarat and South India and made steady profits. In 1966, the company was running two cotton ginning mills in addition to one dal mill.
Growth Essel Group
The news broadcasting business of the Essel Group is called Zee Media Corporation Limited (abbreviated as ZMCL; formerly Zee News Limited).
The corporation runs a network of news channels, including the English-language news channel WION, under the brand name Zee.
The company’s primary television station is Zee News. The Zee Media Corporation also owns and maintains the ZEE5 distribution platform.
It was involved in a joint venture with the Dainik Bhaskar Group for the publication of the Daily News & Analysis newspaper however the paper was stopped in 2019 after sustaining losses.
Development Essel Group
The firm also administers the Zee Institute of Media Arts (ZIMA) which is owned by Zee Learn, the schooling arm of the Essel Group.
The Zee Media Corporation was originally a subsidiary of Zee Telefilms Ltd (later renamed to Zee Entertainment Enterprises) and functioned under the name of Zee News Limited.
It was demerged as a distinct company of the Essel Group in 2006. The Zee News Limited was rebranded to Zee Media Corporation in 2013.