The incident took place late Monday evening in North Delhi's Rani Bagh.
Jai Narayan Gupta was shot inside his office near his house. "Gupta was rushed to a hospital where he was declared dead," said a police officer.
Police said the reason behind the attack might be a business matter as Gupta was a money lender and ran a metal factory.
Investigators have collected a footage from the CCTV installed near his office, which showed a man running away.
This was the second incident in two days of a businessman being killed in Delhi.
Businessman Bajrang Lal Bokadia, 66, his 40-year-old driver Vinod Dubey, 35-year-old cook Bhola Singh and 18-year-old domestic help Anand were found dead inside the businessman's ground floor house at Vivek Vihar in east Delhi Monday morning.