Biography of Ajay Gopikisan Piramal: Chairman of Piramal Group- Businessman
Journey of Ajay Piramal: A Billionaire Business Leader
Ajay Gopikisan Piramal, born on August 3, 1955, is a
prominent Indian billionaire and the head of the Piramal Group. His company
spans multiple sectors, including pharmaceuticals, financial services, real
estate, healthcare analytics, and glass packaging. As of July 2024, Ajay
Piramal's wealth is estimated at $2.8 billion.
Early Beginnings
Ajay Piramal was born in Rajasthan, India, to Gopikisan and
Lalita Piramal. At the age of 22, he began working in his family's textile
business, which his grandfather had established in 1934. After the death of his
father in 1979 and the loss of his older brother to cancer five years later,
Ajay stepped up to lead the business.
Education and Honors
Ajay Piramal earned his bachelor's degree in Science from
Jai Hind College and Basantsingh Institute of Science at the University of
Mumbai. He later completed a master's degree in management studies from
Jamnalal Bajaj Institute of Management Studies at the same university. In 1992,
he participated in a six-week Advanced Management Programme at Harvard Business
School. In recognition of his achievements, he has received an honorary
doctorate from Amity University and an Honorary Doctor of Science from IIT
Indore.
Business Ventures and Investments
In 1988, Ajay Piramal made a significant move by acquiring
Nicholas Laboratories, an Australian multinational company. Under his
leadership, the company has grown to be one of the top five pharmaceutical
firms in India. Piramal also expanded through various international
acquisitions, including the Indian branches of major pharmaceutical companies
like Roche, Boehringer Mannheim, Rhone Poulenc, ICI, and Hoechst Research
Centre. Additionally, he transformed three unused factory buildings in Mumbai
into Crossroads, India's first major shopping mall.
Strategic Investments
Piramal Enterprises Ltd. made a notable investment in
Vodafone India, acquiring an 11% stake over two phases. The first purchase,
totaling Rs 2,856 crore, occurred in 2011, followed by a second acquisition of
Rs 3,007 crore the next year. In April 2014, Piramal Enterprises sold this 11%
stake for INR 8,900 crore, earning a 51.78% profit on the initial investment.
Following the Vodafone sale, Piramal invested INR 2,014
crore to acquire a 20% stake in Shriram Capital Ltd., part of the Shriram Group
based in Chennai. He also invested INR 1,636 crore to obtain a 9.9% stake in
Shriram Transport Finance Co. Ltd. Piramal currently serves as Chairman of the
Shriram Group.
Leadership Transition
In 2019, Ajay Piramal announced his decision to step down as
Chairman of Shriram Capital Ltd., a position he had held for five years.
Biography of Ajay Gopikisan Piramal: Chairman of Piramal Group- Businessman/ pharmaceutical, financial services, real estate, healthcare/success story
Philanthropy
Ajay Piramal is deeply involved in charitable work through
the Piramal Foundation, which he helps to finance. This foundation, a key part
of the Piramal Group's philanthropic efforts, consumes about 10-15% of his
time. The Piramal Foundation focuses on three main areas: Health, Education,
and Safe Drinking Water. Its notable projects include Piramal Swasthya for
health care, Piramal Foundation for Education Leadership, and Piramal Sarvajal
for clean water. The foundation operates in 21 states across India, often
collaborating with state governments to achieve its goals. Additionally,
Piramal plays a role in the Advisory Committee of Annamrita, the ISKCON Food
Relief Foundation, which provides 1.2 million meals daily through its 20
kitchens spread across India.
Leadership and Advisory Roles
Ajay Gopikisan Piramal holds a variety of influential
positions. He is the Chairman of the Piramal Group and serves as a
Non-Executive Director at Tata Sons Ltd. He also sits on the Board of Dean's
Advisors at Harvard Business School and is part of the Board of Advisors for
India's International Movement to Unite Nations. Additionally, he is the
President and Chairman of the Governing Body at Anant National University and
the Chairman of the Pratham Education Foundation. His roles extend to being a
member of the National Council of the Confederation of Indian Industry (CII)
and a co-chair of the UK-India CEO Forum. Piramal also contributes to several
high-profile committees, including the Prime Minister's Council for Trade &
Industry, the Board of Trade, and the Task Force on Pharmaceuticals and
Knowledge-Based Industries. He is a member of the Central Board of the State
Bank of India and has been invited to the World Economic Forum for the past 20
years.
Previous Positions
Piramal has previously served as the Chairman of the Indian
Institute of Technology, Indore, and was also a member of the Central Board of
Directors of the State Bank of India.
Awards and Recognitions
Piramal has received numerous awards and honors throughout
his career. In 2022, he was appointed Honorary Commander of the Order of the
British Empire (CBE) for his contributions to the UK-India trade relationship.
He was named Business Leader of the Year by the International Advertising
Association in 2018 and received several accolades that year, including the
Special Achievement Award from the Asia Pacific Entrepreneurship Awards and
CNBC Asia's India Business Leader of the Year. His previous awards include CNBC
Asia's Business Leader of the Year in 2017, the SEN Sustainability Award in
2015, and the Outstanding Philanthropist Award from Forbes in 2013 and 2014. He
has also been recognized with the Kriyasheel Global Achievers Award in 2010,
CNBC TV 18's India Innovator of the Year Award in 2008, and the Entrepreneur of
the Year Award from the UK Trade and Investment Council in 2006. Other notable
awards include Ernst & Young's Entrepreneur of the Year Award in 2004 and
the Rotary Club of Mumbai Mid-Town's Life Time Achievement Award in the same
year. Additionally, he was named Global Leader of Tomorrow by the World
Economic Forum in 2004 and received the Rotary International Certificate of
Appreciation and Four Way Test Award in 2001, along with the CEO of the Year
Award from the World Strategy Forum in 1999.
Personal Life
Ajay Piramal is married to Swati Shah Piramal, and together
they have two children. Their daughter, Nandini Piramal D'Young, wed Peter
D'Young, an American, in 2009. Piramal’s son, Anand Piramal, married Isha
Ambani, the daughter of billionaire Mukesh Ambani and his wife Nita Ambani, on
December 12, 2018. The Piramal family holds Radhanath Swami in high regard and
considers him their family guru.
Timeline of Ajay Piramal story: A Billionaire Business Leader
August 3, 1955
Ajay Gopikisan Piramal is born in Rajasthan, India.
1977
At age 22, Ajay begins working in his family’s textile
business, established by his grandfather in 1934.
1979-1984
Following the deaths of his father and older brother, Ajay
steps up to lead the family business.
1988
Ajay acquires Nicholas Laboratories, an Australian
multinational, expanding into the pharmaceutical industry.
1992
Participates in a six-week Advanced Management Programme at
Harvard Business School.
2004
Receives the Ernst & Young Entrepreneur of the Year
Award in the Healthcare and Life Sciences category, and the Rotary Club of
Mumbai Mid-Town’s Life Time Achievement Award.
2006
Honored with the Entrepreneur of the Year Award by the UK
Trade and Investment Council.
2008
Awarded India Innovator of the Year by CNBC TV 18.
2010
Receives the Kriyasheel Global Achievers Award.
2013-2014
Named Outstanding Philanthropist by Forbes for two
consecutive years.
2014
Sells an 11% stake in Vodafone India for INR 8,900 crore,
realizing a 51.78% profit.
2015
Wins the SEN Sustainability Award for Philanthropy from the World
Presidents' Organisation.
2017-2018
Receives CNBC Asia’s Business Leader of the Year Award
(2017) and Business Leader of the Year Award from the International Advertising
Association (2018). Also honored with the Special Achievement Award from Asia
Pacific Entrepreneurship Awards (2018).
2019
Announces his decision to step down as Chairman of Shriram
Capital Ltd.
2022
Awarded the Honorary Commander of the Order of the British
Empire (CBE) for contributions to UK-India trade relations.
July 2024
Ajay Piramal's net worth is estimated at $2.8 billion.
