Ajay Piramal

Ajay Piramal

Ajay Piramal speaking at the Horasis Global India Business Meeting in Liverpool, June 2014
Born (1955-08-03) 3 August 1955
Rajasthan, India
Residence Mumbai, Maharashtra, India
Nationality Indian
Alma mater University of Mumbai
Occupation Chairman of Piramal Group & Shriram Group
Net worth $3.3 billion (2016)[1]
Religion Hinduism
Spouse(s) Swati Piramal
Children Anand Piramal[2]
Nandini Piramal

Ajay Piramal (born August 3, 1955) is an Indian businessman. In 2016, Forbes estimated his net worth to be US $3.3 Billion, ranking him number 42 on India’s Top 50 richest people.[1] He leads the Piramal Group, a diversified conglomerate with a presence across 100 cities.[3] Under his leadership the Piramal Group evolved from a textile centric business to a USD 5 billion[4] conglomerate with diversified business interests across pharmaceuticals, packaging, financial services and real estate.

His vision is that the group should rake in an annual revenue of US$20 billion by 2020.[4]

In 1988, he bought Nicholas Laboratories, an Australian multinational corporation. The company, which then competed with the likes of Pfizer and Glaxo, is now ranked fifth[5] among the top 10 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.[6]

Over the past decade, the group has completed more than 20 acquisitions and partnered with global companies such as Merck, Eli Lilly, Pfizer, Abbott, Vodafone, Bio-Syntech, Bayer and Decision Resources Group (DRG). The group is now ranked amongst the 50 largest corporations across India by Fortune 500.

Ajay Piramal led Piramal Enterprises Ltd agreed to buy a 5.5% stake in Vodafone India for Rs. 30.07 billion ($618 million), taking the total stake of the cash-rich drug manufacturer in the mobile telecom firm to 11%.[7][8] In April 2014, Piramal Enterprises Ltd sold its 11% stake for Rs. 8,900 crore, at a 51.78% premium to the price the company had paid in 2011-12.[9]

After selling his stake in Vodafone, Piramal spent Rs. 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 a Rs. 1,636 crore investment in Shriram Transport Finance Co. Ltd, for a 9.9% stake. Piramal also serves as the Chairman of Shriram Group.[10]

Piramal wears several hats. Besides being on the board of Piramal Enterprises Ltd, Piramal Phytocare Ltd, and Piramal Glass Ltd, he is the Chairman of the Board of Governors of The Indian Institute of Technology, Indore. He is also a strategic member of the Board of Dean’s Advisors at the Harvard Business School in Boston.[11]

Most recently, Piramal was appointed to the Board of Tata Sons, the holding company of the US$103 billion diversified Tata conglomerate, as a Non-Executive Director.[12]

He is Chairman of Pratham, which is the largest non-governmental organisation in the education sector in India, and reaches out to 33 million children through its "Read India" campaign.[13]

Directorships

Positions held in the past

Awards received

Academics

[29] Piramal holds B.Sc. (Hons.), Masters in Management Studies from Jamnalal Bajaj Institute of Management Studies and Advanced Management Programme from Harvard Business School, USA. He is an honours graduate in Science from Bombay University.

Interests

In his spare time, Piramal likes to indulge in his passion for wildlife photography.[30] He has also co-authored 'Light has come to me', a book about management lessons inspired from The Bhagwad Gita, published by the Times Group.[31] He has also written a dance opera, ‘The Dance of Life’, which premiered in Mumbai in 2004, with stories inspired by the history of Indian science starring Mrinalini Sarabhai and Mallika Sarabhai.[32]

References

  1. 1 2 "India's Richest". Forbes.com. 16 September 2016.
  2. ↑ Executive Director
  3. ↑ "Bharti Enterprises in talks with Piramal Group, 2 others to sell stake in insurance JVs with AXA". Contify.
  4. 1 2 Srivastava, Bhuva (9 September 2016). "Livemint". Livemint. Retrieved 19 September 2016.
  5. ↑ Jayakumar, P B (28 May 2010). "Newsmaker: Ajay Piramal". Business Standard. Retrieved 19 September 2016.
  6. ↑ "Business Leaders: Ajay Piramal Bio". Connect.in.com.
  7. ↑ "Piramal Group picks up an additional 5.5% stake in Vodafone India for Rs 3007 cr". The Economic Times. 4 February 2012.
  8. ↑ "Piramal to hike additional 5.5% stake in Vodafone India". Business Standard.
  9. ↑ Sanjai, P.R. (11 April 2014). "Piramal sells entire stake in Vodafone for Rs8,900 crore". Live Mint. Retrieved 19 September 2016.
  10. 1 2 Unnikrishnan; Sanjai, CH.; P.R. (24 April 2014). "Ajay Piramal's big bet". Livemint. Retrieved 19 September 2016.
  11. 1 2 3 "Our Leadership - Ajay Piramal". Piramal Group. Piramal Group. Retrieved 19 September 2016.
  12. 1 2 Bureau, ET (26 August 2016). "Venu Srinivasan, Ajay Piramal inducted as nonexecutive directors of Tata Sons". The Economic Times. Times of India. Retrieved 19 September 2016.
  13. 1 2 "PIRAMAL HEALTHCARE LTD (PIHC:Natl India)". Bloomberg Businessweek.
  14. ↑ "Minutes of 18th Meeting of Board of Governors (BoG)" (PDF). 24 August 2015: 11. Retrieved 23 September 2016.
  15. ↑ "Alumni Committee". Jamnalal Bajaj Institute of Management Studies. JBIMS. Retrieved 23 September 2016.
  16. ↑ "Alternative Investment Policy Advisory Committee Report" (PDF). Securities and Exchange Board of India. Securities and Exchange Board of India. Retrieved 23 September 2016.
  17. ↑ "Global Indian CXO Network". GICN. GICN. Retrieved 23 September 2016.
  18. ↑ "Leading industrialists, Venu Srinivasan and Ajay Piramal, appointed non-executive directors of Tata Sons". Tata Sons. 25 August 2016. Retrieved 23 September 2016.
  19. ↑ Bureau, ET (26 August 2016). "Venu Srinivasan, Ajay Piramal inducted as nonexecutive directors of Tata Sons". The Economic Times. Times of India. Retrieved 23 September 2016.
  20. 1 2 "2005 summit on Indian Manufacturing Competitiveness". ISB.
  21. 1 2 "People & Partners: Ajay Piramal". TiE Entrepreneurial Summit.
  22. ↑ "Top Indian Business People: Ajay Piramal". Campus Recruitments.
  23. 1 2 Sinha, Janmaye (20 November 2015). "The Importance of Timing". Boston Consulting Group. Retrieved 23 September 2016.
  24. 1 2 "Corporate Citizen of the Year: Ajay Piramal". AIMA.
  25. ↑ "Piramal Healthcare Limited: Awards / Recognition". Indiamart.
  26. ↑ "Piramal Glass Ltd". The Ft India App.
  27. ↑ "Piramal Glass Ltd (PRML.NS)". Reuters.
  28. ↑ "Philanthropy Awards 2013". Forbes. 2013.
  29. ↑ "Ajay Piramal: A Profile". mingleBox.
  30. ↑ "Meet Mr. Right Timing: Ajay Piramal". The Economic Times. 22 May 2010.
  31. ↑ "Nicholas Piramal's World View". PharmaManufacturing.com.
  32. ↑ "Dr. Swati A. Piramal". Indian Oil.

External links

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