Ramnarain Ruia
Ramnarain Ruia | |
|---|---|
| Nationality | Indian |
| Other names | Ramnarain Harnandrai |
| Occupation | Businessperson |
| Known for | Founder of Phoenix Mills Limited Founder of Bank of India |
| Spouse | Suvrata Devi |
| Children | 5 |
| Father | Harnandrai Ruia |
Seth Ramnarain Ruia (also known as Ramnarain Hurnundrai) was an Indian businessperson.[1][2][3][4] He is also referred as the Cotton King.[5][6]
He was one of the co-founders of Bank of India along with Sir Sassoon David and Sir Cowasji Jehangir Readymoney.[7][1] Ramnarain Ruia College, a college located in Mumbai, is named after him.[5]
Life and career
[edit]He was born around the 1860s. In 1883, Ramnarain became a broker to the opium department of Sassoon J. David, the well-known Armenian firm in Bombay. In 1891, he became a guaranteed broker to Sassoon J. David's cotton department.[8]
In 1905, Ruia purchased Phoenix Mills and two other mills in 1905 to start his textiles business. The other two mills, which he had purchased was the Bradbury Mills at Kalbadevi) and the Dawn Mills at Lower Parel in Bombay.[1]
In 1959, the firm was listed on the Bombay Stock Exchange. The firm also ventured into real estate in 1987and built High Street Phoenix, Mumbai.[2] He co-founded Bank of India in 1906.[7][1]
Further reading
[edit]- Thomas A. Timberg (1978). The Marwaris, from Traders to Industrialists. Vikas. pp. 182, 214. ISBN 9780706905281.
- Prakash Narain Agarwala (1985). The history of Indian business: a complete account of trade exchanges from 3000 B.C. to the present day. Vikas Publishing House Private. p. 422. ISBN 9780706926095.
References
[edit]- ^ a b c d Rozario, Joseph (16 October 2015). "The Fabled Cotton Baron Of Mumbai". Marwar India.
- ^ a b "70 companies with pre-1947 roots". Livemint. 24 August 2017.
- ^ Taknet, D.K. (2016). The Marwari Heritage. IntegralDMS. pp. 71, 110, 111, 469. ISBN 9781942322061.
- ^ Full text of "Jamnalal Bajaj". Internet Archive.
- ^ a b Hakim, Sharmeen (31 October 2018). "3 branches of Ruias will get equal share in property divisio". Mumbai Mirror. The Times of India.
- ^ Calangutcar, Archana; Calangutear, Archana (2012). "Marwaris in the Cotton Trade of Mumbai: Collaboration and Conflict (Circa: 1850-1950)". Proceedings of the Indian History Congress. 73: 658–667. JSTOR 44156261.
Ramnarain Ruia came to be addressed as 'Cotton King.'
- ^ a b "Bank's Founder Members". Bank of India.
- ^ Thomas A Timberg (2015). The Marwaris: From Jagat Seth to the Birlas. Penguin UK. ISBN 9789351187134.