Premchand Roychand was a 19th-century Indian businessman known as the
"Cotton King" and "Bullion King" from Bombay.
2 Further reading
4 External links
Born in 1831 he was the son of Roychand Dipchand, a Dasa Oswal Jain, a
merchant from Surat. The Roychand family moved to
Premchand was a young boy. He was educated at Elphinstone College.
Recorded as the first Indian broker able to speak, read and write
English, he entered the lists as a stock broker in 1849. Apart from
the capital markets,
Premchand Roychand had significant business
interests in the cotton and bullion trades along with the stock
market. He was a founding member of The Native Share & Stock
Brokers Association which is now
Bombay Stock Exchange, the second
largest stock exchange of India. He earned significant profits from
the cotton boom which was triggered by the start of the American Civil
War in April 1861 which stayed till 1865.
He lost the majority of his fortune in the Backbay reclamation scheme,
and other such ventures. He subsequently earned a portion of it
back and turned to philanthropic ventures. The
Rajabai Clock Tower
Rajabai Clock Tower in
the University of
Bombay was named for his mother and was built from a
donation of ₹200,000 in 1878. He was director of the Bank of
Bombay, the largest in the
Bombay Presidency. He also invested in
other schools, including many for girls such as J.B. Petit High School
for Girls; he also established the "
Premchand Roychand Award" for
outstanding art students with the University of Calcutta. He also
donated to the Asiatic Society.
He died in 1906. His bungalow in
Byculla that he named Premodayan
became Regina Pacis Convent, an orphanage and school for destitute
Sharada Dwivedi (2006).
Premchand Roychand (1831-1906): His Life and
Times. Eminence Designs. ISBN 978-81-903821-1-3.
^ a b c d Mishra, Ashish K. "Premchand Roychand: Mumbai's original
share king". Livemint. Retrieved 2016-07-27.
^ Kaul, Vivek (2007-03-04). "Mumbai's first realty bust was in 1865
Latest News & Updates at Daily News & Analysis". DNA India.
^ a b Lakshmi Subramanian (15 January 2016). Three Merchants of
Bombay: Business Pioneers of the Nineteenth Century. Penguin Books
Limited. pp. 122–130. ISBN 978-81-8475-721-7.
^ a b c "
Premchand Roychand and
Bombay dreams". The Hindu Business
Line. 2010-02-14. Retrieved 2017-07-18.
^ "An insane interlude in history". www.rediff.com. Retrieved
^ Rakesh Kumar Bhatt (1 January 1995). History and Development of
Libraries in India. Mittal Publications. pp. 39–40.
^ Sunavala, Nergish (2016-06-19). "Schools get architects to save a
chapter of their own history - Times of India". Times of India.
^ "This home stood witness to the hands that built Bombay". The Indian
Express. 2014-01-21. Retrieved 2017-07-18.
Premchand Roychand & Sons (Business Group's Offic