Early Life
Ajay Gopikisan Piramal was born on August 3, 1955, in Rajasthan, India. He comes from a prominent business family and started his career in 1977 by joining his family's textile business, which his grandfather founded in 1934. In 1979, after his father's death, and then his brother in 1984, he took over the business.
Rise to Success
Piramal's career took a significant turn in 1988 when he acquired Nicholas Laboratories, marking his entry into the pharmaceutical industry. Under his leadership, this acquisition formed the foundation of Piramal Healthcare. A pivotal moment was the 2010 sale of his domestic formulations business to Abbott Labs for $3.72 billion, one of India's largest healthcare deals at the time. Piramal later demerged the pharma and financial services businesses of his flagship Piramal Enterprises in 2022.
Key Business Strategies
Ajay Piramal has shown a knack for strategic investments. He acquired a stake in Vodafone India and sold it at a significant profit. In addition to his business ventures, Piramal is a non-executive director of Tata Sons. His business strategies have involved expanding through acquisitions, divesting assets at opportune times, and diversifying the Piramal Group's interests.
Philanthropy
Piramal's philanthropic work is centered on the Piramal Foundation, founded in 2011, which focuses on health, education, safe drinking water, and leadership development across 25 states in India. The foundation has partnered with governmental bodies like NITI Aayog to improve health outcomes and support education in various communities.