Madhvani Group to Acquire Hindustan National Glass, Pledges ₹10,000 Crore India Investment Over Five Years.

In a move set to invigorate Indo-African business relations, the Madhvani Group is poised to make a significant re-entry into the Indian market with plans to invest ₹10,000 crore and a pending acquisition of Hindustan National Glass & Industries (HNG).

Shrai Madhvani, Promoter of the globally diversified Madhvani Group, along with his wife Aparna Madhvani and Group Director Nitin Gadhia, recently met with Prime Minister Narendra Modi to apprise him of their ambitious plans for India.

During the high-level meeting, Madhvani briefed the Prime Minister on the Group’s strategic foray into India, spearheaded by the acquisition of HNG. Hindustan National Glass & Industries, recognized as India's largest container glass manufacturer, has been undergoing insolvency proceedings since October 2021. The Madhvani Group's impending takeover signifies a crucial step in the revival of the major industrial player.

This substantial investment and strategic acquisition highlight a renewed confidence from international business conglomerates in the Indian market, further strengthening economic ties between India and Africa. The Madhvani Group's move is expected to bring significant capital and expertise to the Indian manufacturing sector, particularly in the glass industry.