Radhakishan Damani is one of the major businessmen and investors in India. He has excellent knowledge of the stock market and investments. Radhakishan made a major part of his income by holding shares in the stock market. He makes profitable investments. He is also the founder of the DMart, one of the biggest retail groups in India. The DMart has more than 200 stores across the country. It is one of the most successful supermarket chains in India. He has bought his own business and become one of the richest people in the country. In this article, we will discuss more details about Radhakishan Damani.
Radhakishan Damani
Radhakishan Damani is one of the richest people in India. He is also known as the retail king of India. He is the founder of Avenue Supermarts Limited. According to Bloomberg, his net worth is $18.3 billion. Forbes has stated that the wealth of Radhakishan Damani is $17 billion. He is one of the most successful business people and investors in India. Radhakishan Damani was born in Mumbai in a Maheshwari Marwari family. He made adequate wealth from stock market trading in 1992, Harshad Mehta Scam. He has a business in the Fashion and rental industry.
Radhakishan Damani was born in Mumbai. He was born in the year 1956. In his early days, he lived in a one-room apartment. Radhakishan Damani studied commerce at the University of Mumbai But he dropped out after the first year. He started trading in the stock market in the late 1980s. Radhakishan began his retail business by buying property in Navi Mumbai. He opened his first DMart store in 2002. The growth of the retail business of Dmart was slow. He opened 25 stores at Walmart in the first nine years.
Now DMart has over 200 stores in major 45 cities in India. He opened 21 Avenue Supermarts in 2016. He lives in Mumbai. Radhakishan has three children and a wife. People popularly know Damani as the retail king of India after the IPO of his retail business, Avenue Supermarts, in 2017. His retail business sells everyday products for the customers like groceries, clothes and footwear.
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Radhakishan Damani Career
Radhakishanstarted his career in stock market as an investor and a broker. Radhakishan made profits by selling the stocks in the 1990’s. He was one of the largest individual shareholders of HDFC Bank. He increased his wealth by selling stocks at the time of Harshad Mehta Scam in the year 1992
Companies Owned by Radhakishan Damani
Radhakishan Damani founded the company named Avenue Supermarts Limited. He is the chairman of the company Avenue Supermart. Avenue Supermart is behind the popular retail company DMart. The Avenue SuperMart is a publicly traded business that sells cheap consumer goods. His company sells food, apparel and other products in the DMart stores across the country. He is a stakeholder in various well-known companies named VST Industries, India Cements, and Andra Paper.
Major Achievements of Radhakishan Damani
Radhakishan Damani is also called as the Retail King of India. He is a successful businessperson in the retail industry. He was behind the growth of the biggest retail DMart. DMArt started from a single store in Powai, Mumbai in the year 2002. Now, DMart has more than 250 stores all over India. The initial Public Offering of the company DMart was a success. Later on, the DMart got expanded all over India.
Awards and Achievements of Radhakishan Damani
Radhakishan Damani has contributed a lot to the retail industry. His contributions to the retail industry are acknowledged widely. He has won several awards and recognition. He got the Padma Sri award from the Indian government as an acknowledgement of his contributions to the retail industry.
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Net Worth of Radhakishan Damani
Radhakishan Damani has a networth of $ 18 billion. His known investment portfolio contains 14 stocks. Damani is also known for his investment strategy and is well known as the most successful investor in India. More than 50 per cent of his stakes are owned by the promoter group. The promotor group also includes a Mumbai-based company named Bright Star. The Bright Star is owned by Radhakishan Damini and his wife. The three trusts of the company are his children according to the data from the stock exchange filing. The stocks owned by his close family members are included in the networth calculation.
He also owns a 156-room Radisson Blu Resort in Alibag. It is a well-known beachfront gateway near Mumbai. He and his brother GopiKishan bought a house in South Mumbai in the year 2021. The cost of the house is more than $100 million. His brother is also a billionaire. Radhakishan Damini brought housing units in a luxury apartment named Three Sixty West for almost Rs.1,238 crores in 2023.
Conclusion
The journey of Radhakishan Damani from an investor to the owner of the biggest retail group DMart is remarkable. He is now one of the richest people in India. Radhakishan grew his wealth from investing in the stock market. He was also successful in building his business DMart from a small store in Mumbai. In this article, we have explored the details of Radhakishan Damani and his networth.