Who is Dinesh Thakkar? Tycoon who bought Mumbai tower for ₹711 crore in record home deal

Dinesh Thakkar, founder of Angel One Ltd., has acquired a luxury Mumbai residential tower for over ₹711 crore, marking the most expensive single property purchase in the country's history, according to Bloomberg. The eight-story, sea-facing tower, spanning 63,000 square feet, is situated in an upscale neighborhood. This transaction was confirmed in a joint statement by Embassy Developments Ltd., the property developer, and Thakkar himself.

Following the news, Embassy's stock soared by as much as 8.3% during early trading. Born into a textile trading family in Mulund, Mumbai, Thakkar was exposed to business from a young age. He studied at St John the Baptist High School in Thane and Kishinchand Chellaram College in Mumbai, dropping out after Class 12. Thakkar chose to leave his studies as he believed he could build a business without a college degree.

Initially, he joined his family's textile business but soon found it restrictive. He then borrowed money from friends and entered the stock market, evolving into stock broking. The business faced a major setback during the 1992 securities scam but was revived with the backing of three investors who each invested ₹50 lakh. This support laid the foundation for Angel One, which was incorporated in 1996.

Angel One was initially a traditional stock brokerage but transformed into a digital-first financial services company in 2019 with the launch of a full-stack digital investment platform. Today, Thakkar, who is Angel One's chairman and managing director, is also known for his passion for high-performance cars, including a Lamborghini Huracán Performante, Ferrari 488 Pista, and Porsche GT3 RS.