Seth Ramnarain Ruia | |
|---|---|
| Born | c. 1860s |
| Died | c. 1930s (69-72) |
| Other names | Ramnarain Harnandrai |
| Occupation | Businessperson |
| Known for | Founder of Phoenix Mills Limited and founder of Bank of India |
| Spouse(s) | Suvrata Devi |
| Children | 5 |
| Parent(s) |
|
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 | edit source]
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.[citation needed] 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 1987 and built High Street Phoenix, Mumbai.[2] He co-founded Bank of India in 1906.[7][1]
Further reading[edit | edit source]
- 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 | edit source]
- ↑ 1.0 1.1 1.2 1.3 Rozario, Joseph (16 October 2015). "The Fabled Cotton Baron Of Mumbai". Marwar India. Archived from the original on 13 February 2023. Retrieved 25 November 2019.
- ↑ 2.0 2.1 "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. 1960.
- ↑ 5.0 5.1 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.'
- ↑ 7.0 7.1 "Bank's Founder Members". Bank of India. Archived from the original on 28 September 2022. Retrieved 25 November 2019.
- ↑ Thomas A Timberg (2015). The Marwaris: From Jagat Seth to the Birlas. Penguin UK. ISBN 9789351187134.