Nirmal Jain

Nirmal Jain, Founder of IIFL Group, is a first generation entrepreneur, who is credited with building one of the largest financial services groups in India in just about two decades. He is a PGDM (Post Graduate Diploma in Management) from IIM, Ahmedabad, a rank holder Chartered Accountant and a Cost Accountant. Mr Jain began his career in 1989 with Hindustan Lever Limited, the Indian arm of Unilever. In 1995, he founded his own equity research company, which is today known as India Infoline or IIFL Group. The company's pioneering work in equity research had set new standards. In 1999, he launched the website www.indiainfoline.com where he made available his research free on the Internet. In 2000, the company forayed into the transaction space, with launch of online trading portal. Under his leadership, the company started diversifying the business model by adding multiple business streams while remaining focussed on the core domain of financial services. Over the years, IIFL forayed into life insurance & mutual fund distribution, Institutional Equities business, Consumer Finance business and Wealth Management businesses. IIFL also expanded globally and has regulated subsidiaries in eight major global financial centers. Under Nirmal’s visionary direction, today IIFL has a market capitalization of over Rs 21,000 crores and is backed by marquee global investors like Fairfax Group, private equity major General Atlantic and UK government’s private equity fund - CDC Group. IIFL Group has a customer base of four million across 8 countries. The NBFC operation has over 1,100 branches mostly in smaller towns and rural locations. The wealth business manages and advises over Rs 133,000 crores of assets and has over 10,000 wealthiest families as clients. IIFL Institutional Equities caters to over 400 global funds.