Ajay Piramal Explained

Ajay Piramal
Birth Date:3 August 1955
Occupation:Businessman
Chairman of Piramal Group
Education:University of Mumbai
Spouse:Swati Shah Piramal
Children:2

Ajay Gopikisan Piramal (born 3 August 1955) is an Indian billionaire businessman, and the chairman of the Piramal Group, a conglomerate with interests in pharmaceutical, financial services, real estate, healthcare analytics and glass packaging.[1] [2] As of July 2024, his net worth is estimated at US$2.8 billion.[3]

Early life

Ajay Piramal was born to Gopikisan Piramal and Lalita Piramal in Rajasthan, India on 3 August 1955. In 1977, at age 22, Piramal started out in his family's textile business, founded in 1934 by his grandfather Piramal Chatrabhuj. His father, Gopikisan Piramal, died in 1979, and after five years he lost an older brother to cancer, prompting him to take over the business.[4]

Piramal holds a bachelor's degree in Science from the Jai Hind College and Basantsingh Institute of Science, University of Mumbai (then Bombay), a master's degree in management studies from Jamnalal Bajaj Institute of Management Studies, University of Mumbai, and in 1992 attended the six-week Advanced Management Programme at Harvard Business School.[5] [6] Piramal has received an honorary doctorate by Amity University, India[7] and Honorary Doctor of Science from IIT Indore.[8]

Business career

In 1988, Piramal bought Nicholas Laboratories, an Australian multinational corporation. The company is now ranked fifth among pharma companies in India, having made a string of overseas acquisitions like the Indian subsidiaries of Roche, Boehringer Mannheim, Rhone Poulenc, ICI and Hoechst Research Centre. India's first major shopping mall, Crossroads, was developed from three redundant Piramal factory buildings in Mumbai.[9]

He led Piramal Enterprises Ltd invested in Vodafone India by buying 11% in two tranches. The first 5.5%, was bought in 2011 for Rs 2,856 crore and the second, the next year for Rs 3,007 crore to buy a 5.5% stake in Vodafone India for INR 30.07 billion ($618 million), taking the total stake to 11%.[10] In April 2014, Piramal Enterprises Ltd. sold its 11% stake for INR 8,900 crore, at a 51.78% premium to the price the company had paid in 2011–12.[11]

After selling his stake in Vodafone India, Piramal paid INR 2,014 crore to buy a 20% stake in Shriram Capital Ltd., an arm of the Chennai-based Shriram Group. The purchase was made in addition to INR 1,636 crore investment in Shriram Transport Finance Co. Ltd. for a 9.9% stake.[12] Piramal also serves as the Chairman of Shriram Group.[13]

Piramal announced in 2019 he planned to resign as chairman of Shriram Capital Ltd. He was named chairman five years earlier.[14]

Directorships and board memberships

Former positions

Awards and honours

Philanthropy

Piramal finances the Piramal Foundation.[40] The foundation is quoted as taking about 10–15% of his time.[41] The Piramal Foundation is the philanthropic arm of the Piramal Group.[42]

The Piramal Foundation has initiatives across Health, Education and Safe Drinking Water, namely Piramal Swasthya,[43] Piramal Foundation for Education Leadership[44] and Piramal Sarvajal,[45] respectively. The Foundation works across 21 states in India, mostly in partnership with state governments.[46]

Piramal is among the Advisory Committee Members of Annamrita, ISKCON Food Relief Foundation (IFRF)[47] that serves 1.2 million meals through its 20 kitchens across India every day.[48]

Notes and References

  1. News: Piramal Re-entry in to indian formulations business. The Economic Times. 17 January 2018. Sinha. Shilpy.
  2. Web site: Piramal Housing Finance backs Chennai realty firm in $30 mn deal. VC Circle. 18 June 2018.
  3. Web site: Forbes profile: Ajay Piramal .
  4. Web site: Piramal History. Forbes.
  5. Web site: Building a better India through business and philanthropy – Alumni – Harvard Business School. alumni.hbs.edu. 29 January 2019.
  6. Web site: Harvard Business School.
  7. Web site: Sharma . Anjali . 2024-02-14 . Ajay Piramal: A Visionary Leader at the Helm of Piramal Group . 2024-07-09 . Business Story . en-US.
  8. Web site: Mr. Ajay Piramal, Chairman, Piramal Group, Conferred with Honorary Doctor of Science (Honoris Causa) Degree by IIT-Indore. Rashmi R.. Parida. 22 November 2018. indiaeducationdiary.in. 29 January 2019.
  9. Web site: Ajay Piramal Biography. Biographia. 29 December 2017.
  10. News: How Ajay Piramal is creating success stories by eschewing conventional wisdom. The Economic Times. 8 April 2018. Layak. Suman.
  11. Web site: Piramal sells entire stake in Vodafone for Rs 8,900 crore. 11 April 2014. Live Mint.
  12. Web site: Piramal to buy 20% stake in Shriram Capital. 17 April 2014. Live Mint.
  13. News: Ajay Piramal to strengthen role in Shriram Group, takes over as Chairman of Shriram Capital. 13 August 2014. The Economic Times. Kalesh. Baiju.
  14. Web site: Kalesh . Baiju . Sanjai . PR . Billionaire Piramal Plans to Step Down From Shriram Capital . Bloomberg . 4 November 2019.
  15. Web site: Piramal Group Chairman. The Hindu Business Line.
  16. Web site: Ajay Piramal tata sons. TATA. https://web.archive.org/web/20180808171846/http://www.tata.com/article/inside/ajay-piramal-tata-sons. 8 August 2018. dead.
  17. News: Ajay piramal appointed non-executive director of tata sons. 25 August 2016. The Economic Times. Sengupta. Devina.
  18. Web site: I.I.M.U.N. Board of Advisors. 2021-07-17. new.iimun.in.
  19. Web site: ANU. https://web.archive.org/web/20180808171716/http://anu.edu.in/AnantU_2018_Prospectus.pdf. 8 August 2018. dead.
  20. News: Industrialists Ajay Piramal and Venu Srinivasan appointed non-executive directors of Tata Sons. 25 August 2016. The Economic Times. Sengupta. Devina.
  21. Web site: Member, Central Board of State bank of india. Asian Centre.
  22. Web site: World Economic Forum. sbs.ox.ac.uk. https://web.archive.org/web/20180808171830/https://www.sbs.ox.ac.uk/community/people/ajay-g-piramal-0. 8 August 2018. dead.
  23. Web site: 2018-11-22. Mr. Ajay Piramal, Chairman, Piramal Group, Conferred with Honorary Doctor of Science (Honoris Causa) Degree by IIT-Indore. 2020-09-17. India Education,Education News India,Education News India Education Diary. en-US.
  24. Web site: Mr. Ajay Piramal, Chairman Piramal Group – Kamini Banga. 2020-09-17. en-US.
  25. Web site: Honorary Awards to Foreign Nationals in 2022 . 2022 . Gov.UK .
  26. Web site: Piramal Group's Ajay Piramal conferred with the IAA's 'Business Leader of the Year' award. 30 July 2018. The Economic Times.
  27. Web site: The 9th Asia Pacific Entrepreneurship Awards, India chapter recognizes 22 top business leaders. 17 April 2018. Asian News Channel.
  28. Web site: CNBC-TV18 hosts 13th edition of India Business Leader Awards; Kumar Mangalam Birla named Outstanding Businessman of the Year. 7 April 2018. CNBC.
  29. Web site: Asia business leader award. 2 November 2017. CNBC.
  30. Web site: Ajay Piramal. https://web.archive.org/web/20180808171830/https://www.sbs.ox.ac.uk/community/people/ajay-g-piramal-0. 8 August 2018. dead.
  31. Web site: Forbes Philanthropy Awards. https://web.archive.org/web/20180808171830/https://www.sbs.ox.ac.uk/community/people/ajay-g-piramal-0. 8 August 2018. dead.
  32. Web site: Ajay Piramal Success Story. 3 November 2017. You Success.
  33. Web site: management. DB Corp LTD.
  34. Web site: Entrepreneur of the Year'. https://web.archive.org/web/20180808171830/https://www.sbs.ox.ac.uk/community/people/ajay-g-piramal-0. 8 August 2018. dead.
  35. Web site: Ernst & Young's Entrepreneur of the year. https://web.archive.org/web/20180808171830/https://www.sbs.ox.ac.uk/community/people/ajay-g-piramal-0. 8 August 2018. dead.
  36. Web site: Pharma bio Award. Bloomberg.
  37. Web site: Lifetime achievement award. .
  38. Web site: Four Way Test Award. Dainik Bhaskar (DB Corp Ltd).
  39. Web site: CEO of the year award. Bloomberg.
  40. Web site: Ajay Piramal Wealth. 19 March 2014. Forbes India.
  41. News: Ajay piramal Success. The Economic Times. 8 April 2018. Layak. Suman.
  42. Web site: CSR : NITI Aayog partners with Piramal Foundation to transform aspirational Districts. 21 March 2018. India CSR.
  43. Web site: Shriram Transport Finance and Piramal Swasthya jointly announces the launch of Mobile Medical Van in Pune. 9 March 2018. News Barons.
  44. Web site: The Piramal family's purposeful philanthropy. 6 January 2015. Forbes India.
  45. Web site: Piramal Sarvajal Marks World Water Day, with the Launch of 'Safe Drinking Water' Awareness Drive. 14 March 2018. Orissa Diary.
  46. Web site: NITI Aayog partners with Piramal Foundation to transform aspirational Districts. 21 March 2018. India CSR.
  47. Web site: Advisory Committee Members of Annamrita. Annamrita.
  48. Web site: Annamrita Meal Project. Annamrita.

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