Nirmal Jain (born 1967) is an Indian billionaire businessman. He is the founder and chairman of India Infoline (IIFL) Group, a financial conglomerate. IIFL and its group companies are backed by Canadian investor Prem Watsa, private equity firm General Atlantic and CDC Group, the UK Government's private equity arm.[1][2][3]
Nirmal Jain | |
|---|---|
| Born | 1967 (age 56–57) |
| Nationality | Indian |
| Education | - Narsee Monjee College of Commerce and Economics - Indian Institute of Management Ahmedabad - Institute of Chartered Accountants of India |
| Occupation | Businessman |
| Known for | Founder of India Infoline and 5paisa.com |
| Title | Chairman, India Infoline (IIFL Group) |
| Spouse | Married |
| Children | 3 |
| Website | Official website |
Early life
editNirmal Jain earned a bachelor's degree in commerce (B.Com) from Narsee Monjee College of Commerce and Economics, a constituent college of the University of Mumbai, followed by MBA from the Indian Institute of Management Ahmedabad.[4] He is also a certified chartered accountant from ICAI.[4]
Career
editIn 1989, Jain started his career with Hindustan Unilever, as a commodities' trader.[5]
In 1995, Jain founded an equity research company that later became India Infoline (or IIFL Group). In 2000, he started one of India's first online trading websites.[5] The business later diversified into life insurance, mutual funds, equities and other financial services.[5]
In March 2018, Bloomberg LP reported that IIFL had doubled in value over the preceding 12 months and that Jain was now a billionaire.[5][6] Jain owns 23% of IIFL, directly or indirectly.[5]
Personal life
editJain lives in Mumbai with his wife and three children.[7] He owns a property in Amby Valley that he "never visits".[8]
In 2016, his eldest daughter, Harshita, was studying to be a chartered accountant.[8]
As of 2018, Harshita has completed the CA course and is an MBA candidate at Stanford Graduate School of Business, California.
Jain founded the IIFL foundation.[9] He is one of the founders of the liberal education oriented Ashoka University along with Dilip Sanghvi, Deep Kalra, and Jerry Rao.[10]
References
edit- ^ "IIFL Annual Report 2016" (PDF). indiainfoline.com. Retrieved 20 March 2017.
- ^ "Nirmal Jain Profile". The Economic Times. Retrieved 7 August 2018.
- ^ "Nirmal Jain Chairman/Founder IIFL Profile". www.bloomberg.com. Retrieved 20 March 2017.
- ^ a b "Nirmal Jain, IIFL Holdings Ltd: Profile & Biography". Bloomberg. Retrieved 13 April 2018.
- ^ a b c d e "Indian Billionaire Manages Fortunes for Burgeoning New Rich". Bloomberg. 15 March 2018. Retrieved 13 April 2018 – via www.bloomberg.com.
- ^ Schmidt, Blake (16 March 2018). "IIFL's Nirmal Jain is India's latest billionaire". livemint.com. Retrieved 13 April 2018.
- ^ Ganguly, Dibeyendu (3 December 2015). "Up Close & Personal with Nirmal Jain Chairman, IIFL Group". The Economic Times. Retrieved 13 April 2018.
- ^ a b GANGULY, DIBYENDU (24 May 2016). "From IIM-A to Dalal St: A tale of two batchmates Rashesh Shah & Nirmal Jain". The Economic Times. Retrieved 13 April 2018.
- ^ SINGHAL, ANUJ (24 May 2016). "Serious inclination towards CSR". Retrieved 27 April 2018 – via CNBC TV18.
- ^ Sengupta, Devina (15 April 2014). "Dilip Shanghvi, Nirmal Jain, others line up to back Ashoka University". Economic Times. Retrieved 27 April 2018.