Ahmedabad, (Gujarat) [India], October 01: Days after completing the ₹2,250-crore acquisition of Hindustan National Glass & Industries Limited (HNGIL), the new leadership of the Madhvani Group marked the occasion with spiritual visits in Gujarat.
Chairman Shrai Madhvani, accompanied by his son Mihir Madhvani, first visited the BAPS Shri Swaminarayan Mandir in Ahmedabad, where they received divine blessings from Sadguru Pujya Ishwarcharan Das Swami, the International Convenor of the BAPS Swaminarayan Sanstha. The Madhvani family sought spiritual guidance for the company’s new chapter under their stewardship.
Later the same day, the delegation visited the BAPS Akshardham Temple in Gandhinagar, offering prayers and seeking the blessings of Bhagwan Swaminarayan for HNGIL’s revival and future growth. They were joined by HNGIL Managing Director Kumar Krishnan and newly appointed Director Nitin Gadhia.
The Madhvani family, with ancestral roots in Gujarat, have long been devoted followers of the BAPS Swaminarayan Sanstha. Gadhia, who has been associated with the Group for nearly five decades, also serves as a trustee of the Sanstha, underscoring the family’s spiritual and cultural connect with the state.
The temple visits followed the formal takeover of HNGIL by INSCO, part of the Uganda-based Madhvani Group, under an IBC resolution plan approved with 96.16% creditor support in June and given the NCLT nod in August. The plan is valued at ₹2,250 crore and has paved the way for the revival of India’s oldest and largest container glass manufacturer.
Earlier in June, Shrai Madhvani also met Prime Minister Narendra Modi in New Delhi to brief him on INSCO’s plans for HNGIL and announce a ₹10,000-crore investment commitment in India over the next five years. PM Modi welcomed the proposal, describing it as both a boost to Make-in-India and a reinforcement of India’s economic and cultural ties with East Africa.
For the Madhvani family, the Gujarat visits carry symbolic weight — marking not just a business revival, but also a cultural and spiritual homecoming.
Muljibhai Prabhudas Madhvani (1894–1958), who migrated from Gujarat to Uganda, was the visionary founder of the Madhvani Group. From modest trading, he built one of East Africa’s largest conglomerates spanning sugar, brewing, tea, and textiles. His ventures created jobs and community assets, while his philanthropy — schools, housing, healthcare and the Muljibhai Madhvani Foundation — uplifted generations. Remembered as an industrialist and humanitarian, his legacy of creating wealth with purpose continues as the family takes forward HNG’s revival in India.
