Nirmal Jain

Nirmal Jain
Born 1967 (age 50–51)
Residence Mumbai, India
Nationality Indian
Education - Narsee Monjee College of Commerce and Economics
- Indian Institute of Management Ahmedabad
Occupation Businessman
Known for Founder of India Infoline and 5paisa.com
Net worth US$1 billion+ (as of March 2018)[1]
Title Chairman, India Infoline (IIFL Group)
Spouse(s) Married
Children 3
Website http://www.nirmaljain.in/

Nirmal Jain (born 1967) is an Indian billionaire businessman. He is the founder and chairman of India Infoline (IIFL) Group, a financial conglomerates. 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.[2][3][4]

Early life

Nirmal 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 a postgraduate diploma certificate in management (PGDM) from the Indian Institute of Management Ahmedabad.[5] He is also a certified chartered accountant from ICAI.[5]

Career

In 1989, Jain started his career with Hindustan Unilever, as a commodities trader.[1]

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.[1] The business later diversified into life insurance, mutual funds, equities and other financial services.[1]

In March 2018, Bloomberg LP reported that IIFL had doubled in value over the preceding 12 months, and that Jain was now a billionaire.[1][6] Jain owns 23% of IIFL, directly or indirectly.[1]

Personal life

Jain 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, and is being groomed for a future role at her father's company.[8]

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

  1. 1 2 3 4 5 6 "Indian Billionaire Manages Fortunes for Burgeoning New Rich". 15 March 2018. Retrieved 13 April 2018 – via www.bloomberg.com.
  2. ↑ "IIFL Annual Report 2016" (PDF). indiainfoline.com. Retrieved 20 March 2017.
  3. ↑ "Nirmal Jain Profile". The Economic Times. Retrieved 7 August 2018.
  4. ↑ "Nirmal Jain Chairman/Founder IIFL Profile". www.bloomberg.com. Retrieved 20 March 2017.
  5. 1 2 "Nirmal Jain, IIFL Holdings Ltd: Profile & Biography". Bloomberg. Retrieved 13 April 2018.
  6. ↑ Schmidt, Blake (16 March 2018). "IIFL's Nirmal Jain is India's latest billionaire". livemint.com. Retrieved 13 April 2018.
  7. ↑ Ganguly, Dibeyendu (3 December 2015). "Up Close & Personal with Nirmal Jain Chairman, IIFL Group". Retrieved 13 April 2018 – via The Economic Times.
  8. 1 2 GANGULY, DIBYENDU (24 May 2016). "From IIM-A to Dalal St: A tale of two batchmates Rashesh Shah & Nirmal Jain". Retrieved 13 April 2018 – via The Economic Times.
  9. ↑ SINGHAL, ANUJ (24 May 2016). "Serious inclination towards CSR". Retrieved 27 April 2018 – via CNBC TV18.
  10. ↑ Sengupta, Devina (15 April 2014). "Dilip Shanghvi, Nirmal Jain, others line up to back Ashoka University". Retrieved 27 April 2018 – via Economic Times.
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