Nirmal Jain
Born1967 (age 56–57)
NationalityIndian
Education- Narsee Monjee College of Commerce and Economics
- Indian Institute of Management Ahmedabad
- Institute of Chartered Accountants of India
OccupationBusinessman
Known forFounder of India Infoline and 5paisa.com
TitleChairman, India Infoline (IIFL Group)
SpouseMarried
Children3
WebsiteOfficial website

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]

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 MBA from the Indian Institute of Management Ahmedabad.[4] He is also a certified chartered accountant from ICAI.[4]

Career

In 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

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.[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

  1. ^ "IIFL Annual Report 2016" (PDF). indiainfoline.com. Retrieved 20 March 2017.
  2. ^ "Nirmal Jain Profile". The Economic Times. Retrieved 7 August 2018.
  3. ^ "Nirmal Jain Chairman/Founder IIFL Profile". www.bloomberg.com. Retrieved 20 March 2017.
  4. ^ a b "Nirmal Jain, IIFL Holdings Ltd: Profile & Biography". Bloomberg. Retrieved 13 April 2018.
  5. ^ 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.
  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". The Economic Times. Retrieved 13 April 2018.
  8. ^ 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.
  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". Economic Times. Retrieved 27 April 2018.
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