The Rs1,500-crore Siyaram group is ina flux; the next
generation of the Poddar family is taking charge.
Poddar chairman of Siyaram Silk Mills has been joined
by his son Avnish and his late brother Pramod Poddar's
Poddar chairman of Balkrishna Industries, maker of tractor
tyres has inducted Rajeev Poddar into the company while
Rahul Poddar son Vinod Poddar the chairman of Govind Rubber,
the Rs280-crore rickshaw tyre-maker has also joined his
1940 brothers Dhara Prasad, Mahavir Prasad and Ram Prasad
opened a rubber factory in South Mumbai's Dockyard Road.
had four sons Ramesh, Pawan, Pramod and Kishan, of whom
Pramod has passed away. Mahavir Prasad had three sons
Suresh, Vinod and Arvind of whom Suresh is no more.
The textile business was launched in 1978. Ramprasad's
family separated from the business in 1998, walking away
with Vinakaya Synthetics.
Poddars have now restructured the managements of the three
group companies. While the textile business is managed
by the sons of Dharaprasad Poddar, the rubber businesses
are in the hands of the two sons of late Mahavirprasad
both branches of the family continue to hold equal stakes
in all the three group companies. The promoter holding
stands at 65 per cent for Siyaram, 54 per cent for Balkrishna
and 55 per cent for Govind Rubber.
Poddars have also drawn up an expansion plan for their
textile businesses, while Balkrishna Industries sold a
7.43 per cent stake to private equity firms Evercore and
Chryscapital last year to fund its expansion plans.