Nirmal Jain
Nirmal Jain | |
|---|---|
| Born | 1967 India |
| Occupation | Entrepreneur |
| Known for | Founder of India Infoline (IIFL) Group |
Nirmal Jain (born 1967) is an Indian billionaire entrepreneur and the creator of the India Infoline (IIFL) Group, a diversified financial services conglomerate. The IIFL Group and its affiliates receive investment support from Canadian financier Prem Watsa, private equity firm General Atlantic, and CDC Group, the UK Government's private equity investment division.
Early life
Jain earned a bachelor's degree in commerce from Narsee Monjee College of Commerce and Economics and completed his MBA at the Indian Institute of Management Ahmedabad. Additionally, he is a qualified chartered accountant certified by ICAI.
Career
Starting his professional journey in 1989, Jain worked as a commodities trader with Hindustan Unilever. In 1995, he established an equity research company that eventually transformed into the India Infoline (IIFL) Group. By the year 2000, he introduced one of India's pioneering online trading platforms. Over time, IIFL broadened its services to include life insurance, mutual funds, equities, and various other financial products.
According to Bloomberg in March 2018, IIFL had doubled its market value within the previous year, elevating Jain to billionaire status. He maintains approximately a 23% ownership stake in IIFL, either directly or through subsidiaries.
Personal life
Jain lives in Mumbai with his spouse and three children. He possesses a residence in Amby Valley, which he seldom visits.
In 2016, his eldest daughter Harshita was engaged in chartered accountancy studies. By 2018, she had completed her CA qualification and was enrolled in an MBA program at Stanford Graduate School of Business, California.
Jain is the founder of the IIFL Foundation and co-founded Ashoka University, an institution emphasizing liberal education, together with Dilip Sanghvi, Deep Kalra, and Jerry Rao.