Premchand Roychand

Premchand Roychand (1832–1906) was an Indian Śvetāmbara Jain businessman known as the "Cotton King" and "Bullion King" from Bombay. He is most well-known for the establishment of Bombay Stock Exchange and for his donation in the construction of the Rajabai Clock Tower.

Life Premchand Roychand was born in 1832 in Dasa Oswal Jain Śvetāmbara family. He was the son of Roychand Deepchand, a merchant from Surat. Popular Śvetāmbara Jain monk Mohanlalji Maharaja was his preceptor and teacher. The Roychand family moved to Bombay when 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, Jain 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 in the University of Bombay was named after his mother and was built from a donation of by Premchand in 1878. He was director of the Bank of Bombay, the largest in the Bombay Presidency.