Piramal Enterprises appoints Rupen Jhaveri as group president

Piramal Enterprises Limited (PEL) appointed Rupen Jhaveri as group president, who will primarily focus on financial services. The appointment is effective from Friday.

In the newly created role, Rupen will be responsible for business development, strategy, merger and acquisition, capital allocation and corporate finance, the company said in a release.

“Rupen brings with him rich experience of investing and managing multiple businesses over the past two decades,” said Anand Piramal, Executive Director, Piramal Group.


“Rupen is just one example of our endeavour to create a world class team that will help PEL become one of India’s largest and most respected financial services institutions,” he said.

Rupen’s appointment came following PEL’s announcement in October 2021 that it would demerge its financial services and pharmaceuticals operations - with the objective of simplifying PEL’s corporate structure and unlocking value.

Rupen joins PEL from global investment firm KKR, where he was a managing director at its India private equity team. He had been with KKR India for 13 years and was part of the founding team.

He has led transactions including Alliance Tires, Magma Fincorp (Poonawalla Finance), Dalmia Cement, Max Financial Services, Emerald Media, SBI Life Insurance, Bharti Infratel, HDFC Ltd., Ramky Enviro Engineers, Jio Platforms and Reliance Retail.

Prior to joining KKR, he was with Goldman Sachs & Co. in its Principal Investment Area (PIA) and Warburg Pincus in Mumbai.

Jhaveri holds a B.S., magna cum laude, from Leonard N. Stern School of Business of New York University. He has also been the recipient of some distinguished awards.

With partners such as CDPQ, Bain Capital, Apollo, CPPIB and IFC, PEL also aspires to build on its strong foundation in the alternatives business.

“PEL is extremely well positioned post its Rs18,500 crore capital raise, the recent DHFL acquisition and its significant focus to scale up its digitally led retail franchise,” said Rupen Jhaveri.