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 |
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 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]
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]
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]
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