Williamson Magor
| Traded as | : , : WILLAMAGOR |
|---|---|
| Industry | Tea |
| Headquarters | Kolkata, India |
|
Key people
|
Aditya Khaitan (CEO & MD) |
| Owner | Mr. Brij Mohan Khaitan (Chairman) |
| Website | wmtea |
Williamson Magor & Co. Limited is considered one of the pioneers of tea business in India. It was set up in the year of 1868 in Kolkata.
The company was founded on 10th March, 1949 as 'MACNEILL & BARRY LIMITED' to do business as General Merchants. The Company became a Multidivisional Company with interests among other things in Manufacture of Tea, Jute, Engineering and Reprographic Items.
In the year 1975 the then Williamson Magor & Co. Limited who were primarily engaged in the business of Growing and Manufacturing of Tea was amalgamated with the Company whereupon the name of the Company was changed to 'Macneill & Magor Limited'.
In lieu of transfer of the said business the Company was allotted substantial number of shares by the Transferee Companies as consideration for the business so transferred. On completion of the process the Company again changed its name to Williamson Magor & Co. Limited in 1992 having principal business of growing and manufacture of tea and investments in group companies.
Williamson Magor & Co. Limited, had a long history in tea business dating back to the year 1868 and is considered as one of the pioneers of tea business in India. As a result of the amalgamation, the company became a major tea Company in the country while having various other business in its fold. Later, the Company changed its business strategy and decided to hive off all divisions other than tea to a few newly set up companies within the group. Later the tea business was also hived off in favour of certain group companies as a result of which the Company became a pure Investment and Group Shareholding Company.
The Company accordingly made an application to the Reserve Bank of India for registering itself as a Non-Banking Financial Company (NBFC). The Company was granted the required licence to act as an NBFC by the Reserve Bank of India on 31st March, 2003 and since then the Company is in the said business with substantial investments in the group companies like McLeod Russel India Limited, Eveready Industries India Limited, Kilburn Engineering Limited, McNally Bharat Engineering Company Limited etc.,
The Company is listed on the Bombay Stock Exchange, The National Stock Exchange of India, The Calcutta Stock Exchange and the Gauhati Stock Exchange.
The Company being the major Group Shareholding Company, the group is known as "WILLIAMSON MAGOR GROUP" (WM GROUP).
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Wikipedia