Torrent Mehtas: ₹5k Cr: Torrent’s Mehtas Join Philanthropy Club | Mumbai News

Mar31,2024



Mumbai: Billionaire brother Sudhir and Sameer Mehta pledged to donate Rs 5,000 crore for various social causes on the birth centenary of his father and Torrent Group founder on Sunday.
Mehta joins the ranks of other billionaires who have dedicated large chunks of their wealth to philanthropy. “This contribution will be in addition to the statutory CSR contribution of the Torrent group of companies,” a release from the pharmaceutical-to-power venture said.
The donation will be managed by the UNM Foundation to promote health care, education, ecology and the arts. The Mehta family derives a large part of its wealth from Torrent Pharma, the flagship company of the $5 billion group.
They will begin donating Rs 5,000 crore (about $600 million) to the UNM Foundation over five years from April 1, the release said. His father Uttambhai Nathalal Mehta (UNM) founded the group in 1959, the year Bajaj Auto obtained a license from the Indian government to manufacture two and three wheelers and when India saw the launch of Doordarshan.
UNM's journey from becoming a medical representative for Swiss pharma giant Sandoz to founding Torrent Group is inspiring. Born into a poor family, he lost his mother at the age of two. She faced many health challenges, such as being diagnosed with mental health issues at the age of 39 due to side effects of medication she was given, and being diagnosed with an extremely rare form of cancer at the age of 53. UNM had also failed in his first attempt to set up a business.

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