Latest news with #AnandJain
India.com
6 days ago
- Business
- India.com
Who Is Anand Jain? Close friend of Mukesh Ambani, was once a billionaire, his son lives near Rs 15000 crore Antilia, business is…
Mukesh Ambani is known to everyone as the richest person of India. But there are many people who are still behind the curtains but have contributed to Reliance's success. One such person who is also a childhood friend of Ambani and a real estate magnate is Anand Jain.. Who Is Mukesh Ambani's Friend Anand Jain? The bond between Mukesh Ambani and Anand Jain is from their school days at Mumbai's Hill Grange High School on Pedder Road. When Mukesh Ambani returned from Stanford University in the early 1980s to join the family business, Anand left his own ventures in Delhi to support him. Anand has already worked with Dhirubhai Ambani and developed his own business also. Anand Didn't Take Salary In a corporation everyone works for high pay packages and designations but Anand Jain was different among them. Though he played a big role in shaping Reliance's expansion especially for Reliance Infocomm, he never held a formal position or withdrew a salary. He was Mukesh Ambani's behind-the-scenes advisor, a steady voice in the war room. Anand Jain's Business Empire While advising Reliance, Jain was also building his own business empire. In 1985, he founded Jai Corp Limited, which emerged as a big player in industrial real estate, plastic processing, steel, and yarn manufacturing. In 2007, Forbes ranked Anand Jain as India's 11th richest person, with a net worth estimated at $4 billion. That same year, he led the Urban Infrastructure Opportunities Fund, India's largest real estate private equity initiative at the time, raising Rs 2,434 crore from over 750 investors. During its peak, Jai Corp's market cap was a $45 billion. By 2012, his net worth had declined to around $525 million. Anand Jain's Dream11 Link Anand Jain's son, Harsh Jain, co-founded Dream11 in 2008, which has since become one of India's top fantasy sports platforms and entered the unicorn club by 2019. Despite his massive business footprint, Anand Jain is famously media-shy. Harsh Jain, co-founder and CEO of Dream11, owns a luxury apartment in the Lodha Malabar project on Walkeshwar Road , which is near Mukesh Ambani's Antilia in Mumbai.
Time of India
19-06-2025
- Business
- Time of India
Have to probe complints against Jai Corp director in Rs 2,434cr fraud case, CBI tells Bombay high court
Mumbai: The Central Bureau of Investigation (CBI) has told Bombay high court that it has to conduct a "thorough investigation" into complaints against Jai Corporation Ltd director Anand Jain in an alleged Rs 2,434-crore fraud case. The probe agency was replying to Jain's petition seeking quashing of the FIR registered after the Jan 31 HC order to form an special investigation team (SIT) to probe into two complaints filed in 2021 and 2023 with the Economic Offences Wing by Shoaib Sequeira of NGO Protection of Rights Association. The HC on Wednesday granted Jain time to file his rejoinder and posted the hearing after four weeks. On March 17, the Supreme Court had refused to interfere with the HC order. Jain moved HC claiming the FIR was registered without conducting a preliminary enquiry (PE). HC had directed PE and not registration of FIR. However CBI, in its reply filed by SIT chief Sarah Sharma, said the HC's order contains "specific mandate for thorough investigation in the two complaints" and does not contain the words 'preliminary enquiry'. Jain cannot choose the method and manner in which CBI has to investigate, it added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 180k traders trust IC Markets for CFD trading | Sign up today IC Markets Learn More Undo Jain said market regulator SEBI concluded that no further investigation is required to be conducted into the same set of allegations. But CBI countered that Jain cannot claim the matter has attained finality after SEBI's inquiry. It is also not a legal bar for the CBI to investigate the matter. "In the instant matter, the investigation is being conducted to unearth the conspiracy hatched by the accused persons, if any, and the role and complicity of other private persons as well as the public servants involved in the offence, if any. The investigation has wider connotation to bring out the truth whereas the in-house inquiry of SEBI has a limited scope to arrive at the irregularities/ malpractices/violations of SEBI regulations," it added. The CBI said that it is premature to conclude that no prima facie case is made out. Further, the complaints "disclose the information relating to commission of a cognisable offence".
India.com
14-06-2025
- Business
- India.com
Meet Dhirubhai Ambani's ‘third son', owns a house near Antilia, left his company to join Reliance, he is..., Mukesh Ambani is...
In the glitzy realm of billionaires and boardrooms, the spotlight often shines on the faces at the top. However, behind any influential business empire are often unsung heroes whose contribution helps lay the foundation of that empire. One of those heroes is a childhood friend and trusted adviser to Mukesh Ambani, who has been a silently powerful ally to Reliance's success. So integral has his role been that many even call him the 'third son' of Dhirubhai Ambani. In this article, we are talking about Anand Jain, Mukesh Ambani's longtime friend from school. Anand and Mukesh went to school together at Hill Grange High School, Mumbai, where they shared a bond for almost 25 years. Anand was closely attached to the entire Ambani family, especially Dhirubhai Ambani, and this relationship wasn't just cordial—Anand's loyalty to the family was so strong that he gave up his own business in Delhi to return to Mumbai and join Mukesh Ambani in building Reliance Industries. Anand Jain has been instrumental in the growth of Reliance Industries in several verticals, such as real estate, telecom, and finance. Interestingly, media reports suggest that despite his significant contributions to the company's growth, he never accepted a salary for his efforts. Before exploring Anand Jain's connection with the Ambani family, it is important first to note his important position in the Indian business environment. Jain is the chairman for Jai Corp Limited, and was identified as the 11th richest person on the Forbes India 2007 list of 40 richest people. Jain is well known for his extensive knowledge in interests related to real estate and financial services. Beyond his position in Mukesh Ambani's business empire, Anand Jain is also an accomplished entrepreneur. He has over 30 years of experience in real estate, capital markets, and finance and is the chairman of Jai Corp Limited. He has invested in approximately 33 different projects across 14 cities in India. Currently, his net worth is estimated at around $525 million. Carrying the legacy forward, his son, Harsh Jain, also owns an empire. He is a co-founder and Chief Executive Officer of Dream11 and Groww. Dream 11 is India's premier sports platform and is now a million-dollar company, having tied up with A-List cricketers such as Rohit Sharma, MS Dhoni, and Hardik Pandya.
India.com
08-05-2025
- Business
- India.com
Meet Mukesh Ambani's best friend and 'third son' of Dhirubhai Ambani, he is the chairman of..., his connection with Dream11 is...
Meet Mukesh Ambani's best friend and 'third son' of Dhirubhai Ambani, he is the chairman of..., his connection with Dream11 is... Reliance Industries has made history by becoming the first Indian company to cross a market value of Rs. 20 lakh crore. While much of the credit goes to Mukesh Ambani, the company's Chairman and Managing Director, such success is rarely achieved alone. Most people know Manoj Modi as Ambani's closest aide, but there's another trusted figure who's played a key role behind the scenes — Anand Jain. Anand Jain, now the Chairman of Jai Corp Limited, has been a close friend of Mukesh Ambani since childhood. He was often referred by many as the 'third son' of Reliance Industries founder Dhirubhai Ambani. The two studied together at Hill Grange High School in Mumbai. When Ambani returned from Stanford University in 1981, Jain, who was already working with Mukesh's father, Dhirubhai Ambani, decided to leave his business in Delhi and join Reliance. Jain's business journey has seen major highs and lows. In 2007, Forbes listed him as the 11th richest Indian with a net worth of around USD 4 billion (about Rs. 33,000 crore at the time), thanks to the rise in value of Jai Corp, which had a market cap of USD 45 billion. But over the years, his wealth saw a sharp dip, and by 2012, it had dropped to USD 525 million (around Rs. 4,350 crore). Jai Corp, founded in 1985, is active in several industries including steel, plastic, yarn spinning, and real estate. The company has also invested in large infrastructure and Special Economic Zone (SEZ) projects, along with venture capital and real estate across 14 cities in India, with a total of 33 projects under its belt. Anand Jain's deep knowledge of real estate, finance, and capital markets has made him a key figure within the Reliance Industries circle. As a long-time strategic advisor to Mukesh Ambani, Jain has been instrumental in managing the group's major real estate deals and navigating complex capital market operations. Beyond Reliance His influence extends beyond Reliance. He has also held positions on the boards of the Mumbai Port Trust and Jawaharlal Nehru Port, contributing his insights to public infrastructure bodies. Interestingly, despite his strong presence in the company, Anand Jain reportedly doesn't take a salary from Reliance. Instead, he uses his experience to guide operations, particularly in the telecom arm, Reliance Infocomm. Anand Jain's personal life Away from the business spotlight, Jain leads a quiet life in Mumbai with his wife, Sushma Jain, who is a homemaker. They have two children, Neha and Harsh. Meanwhile, his's daughter, Neha, is married to Anurag Bagaria, and his son, Harsh Jain along with Bhavit Sheth, co-founded Dream11 — India's top fantasy sports platform. Launched in 2008, Dream11 became the first Indian fantasy sports company to reach unicorn status in April 2019. As of October 2023, it had over 200 million users, offering fans a chance to play fantasy versions of cricket, football, baseball, and more — changing the way Indians engage with sports.
Globe and Mail
15-04-2025
- Business
- Globe and Mail
CleverTap Acquires rehook.ai to Strengthen AI-Driven Promotions and Customer Retention Capabilities
The integration of innovative promotions engine unifies analytics, engagement, and promotions, boosting AI-driven campaigns and customer retention SAN FRANCISCO and MUMBAI, India , April 15, 2025 /CNW/ -- CleverTap, the all-in-one engagement and retention platform, today announced the acquisition of a Y Combinator-backed startup. offers a promotions automation solution, empowering businesses to manage coupons, discounts, gamification, loyalty programs, and referral initiatives. This acquisition strengthens CleverTap's complete suite for customer retention, merging analytics, engagement, and promotions into a single unified offering. With now part of CleverTap, brands can unlock an enhanced ability to create, distribute, track, and optimize diverse promotional campaigns—ultimately increasing conversions and improving user retention. Brands will be able to address a broader range of customer needs throughout the user lifecycle—from initial acquisition and onboarding to retention and loyalty. The addition of real-time promotional data will also enhance CleverTap customers' ability to trigger timely offers based on user behavior and context, resulting in more meaningful customer relationships. Anand Jain , Co-founder and Chief Product Officer, CleverTap , said, "We're excited to welcome to the CleverTap family. This acquisition enhances our engagement ecosystem, helping businesses drive retention with greater precision. This allows us to unlock multiple use cases across industries like gaming, retail, and financial services. It not only strengthens our ability to support businesses in crafting deeply personalized, AI-driven experiences but also opens up new opportunities for cross-selling and upselling integrated promotions management. Ultimately, it's about helping our customers maximize lifetime value, drive sustainable growth, and build stronger, more loyal relationships with their users." Akhil Suhag , CEO and Co-founder at added, "We started with a vision of helping businesses make promotions smarter, more dynamic, and truly impactful. Now, as we join forces with CleverTap, we have the scale and reach to bring this vision to a global audience. Beyond that, their deep expertise in segmentation, real-time analytics, and engagement will enhance how we power personalized promotions, making them even more effective. Together, we're setting a new standard for AI-driven, deeply personalized marketing that delivers measurable business impact." With this acquisition, CleverTap continues to demonstrate its commitment to evolving beyond pure engagement tools—creating a complete customer retention ecosystem that unites data, insights, and incentives within one powerful framework. About CleverTap CleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Decathlon, Domino's, Levis , Jio, Emirates NBD, Puma, Croma (A Tata Enterprise), Swiggy, SonyLIV, Axis Bank, AirAsia, TD Bank, Ooredoo, and Tesco to help build personalized experiences for all their customers. The platform is powered by TesseractDB™ – the world's first purpose-built database for customer engagement, offering speed and cost efficiency at scale. Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco , with presence across Seattle , London , São Paulo, Bogota , Mexico , Amsterdam , Sofia , Dubai , Mumbai , Delhi , Bangalore , Delhi , Singapore , Vietnam , and Jakarta . For more information, visit or follow us on: LinkedIn: X: Forward-Looking Statements Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release. Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.
