Premchand Raichand Jain, known as the "Big Bull" and "Bullion King," was a prominent business tycoon in Mumbai (then Bombay)
He was one of the four Bombay business princes and played a significant role in the establishment of the Native Share & Stock Brokers Association, which later became the Bombay Stock Exchange (BSE)
Born in Surat in 1832, Raichand Jain moved to Bombay at a young age. He received his education at Elphinstone College, making him the first Indian broker fluent in English
Premchand Raichand had an unrivaled memory and never relied on pen and paper for his trades. By 1858, he had accumulated wealth amounting to around Rs. 1 lakh solely through his memorized trades
Following the American Civil War in 1861, India became a significant hub for the cotton trade. Premchand Raichand capitalized on this opportunity and expanded his business further
After the civil war ended and the cotton trade's influence declined, Premchand Raichand faced a financial crisis. However, he recovered and shifted his focus towards philanthropy.
Premchand Raichand passed away in 1906, leaving behind a rich legacy. His family continues to run Premchand Raichand and Sons, a small but historically significant company
The bungalow in Byculla, where Premchand lived, was later transformed into an orphanage and school, reflecting his commitment to giving back to society
The Native Share & Stock Brokers Association, founded by Premchand Raichand, evolved into the Bombay Stock Exchange (BSE). Today, it is the second-largest stock exchange in India, with a combined market capitalization of over Rs. 300 lakh crores