Radhakishan Damani: Founder of Dmart
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Radhakishan Damani is an Indian businessman who is known for establishing DMart. He founded DMart in May 2002 and it is owned and operated by Avenue Supermarts Limited (ASL). He is an active Investor and manages his portfolio through his investment firm, Bright Star Limited. He is also a Retailer and actively took interest in the stock market. As of 21 November 2019, DMart was the 33rd largest company listed in the Bombay Stock Exchange. As of January 2021, Forbes ranked him the 4th richest man in India with a net worth of $18.9 billion.
Radhakishan Damani - Biography
| Name | Radhakishan Shivkishan Damani |
|---|---|
| Born | January 1954 |
| Birthplace | Bikaner, Rajasthan, India |
| Age | 67 (2021) |
| Nationality | Indian |
| Current city | Mumbai, Maharashtra, India |
| Education | Universit of Bombay |
| Profession | Businessman, Investor |
| Position | Founder of DMart |
| Net worth | $18.9 billion (January 2021) |
| Father | Shivkishanji Damani |
| Siblings | Gopikishan Damani |
| Marital Status | Married |
| Children | 3 |
Radhakishan Damani - Personal Life
Radhakishan Damani - Education
Radhakishan Damani - Professional Life
Radhakishan Damani - Stock broker
Radhakishan Damani v/s Harshad Mehta
Radhakishan Damani - Founder of DMart
Radhakishan Damani - Bright Star Investments Private Limited
Radhakishan Damani - Investments
Radhakishan Damani - FAQs
Varad Kitey
Radhakishan Damani - Personal Life
Radhakishan was born to a Marwari family and lives in Mumbai, Maharashtra, India. His father, Shivkishanji Damani worked as a broker in Dalal Street, which is an address of the Bombay Stock exchange. He also took interest in stock brokerage.
His wife and his brother assists him in his business errands. He has three daughters, one among them, Manjri Chandak is serving as the manager of his company, DMart.
He likes to keep a low profile and rarely gives any interviews. He mentored some stock trading techniques to Indian billionaires, Dipesh Bhandari and Rakesh Jhunjhunwala.
Radhakishan Damani - Education
Radhakishan studied Bachelor of Commerce from the University of Bombay. After one year, he dropped out from the college to start his own business.
Radhakishan Damani - Professional Life
Radhakishan initially worked for his ball bearing production business. He then worked as a stock broker and an investor. He had made investments in several companies, holding a substantial stake in those firms.
He established the chain of hypermarkets in India called DMart in 2002, and the company rapidly grew and today, it has a strong audience base in India. The company went public when the IPO was issued in 2017 with the name of Avenue Supermarket.
Radhakishan Damani - Stock broker
After the death of his father, he became a stock market broker and an investor. He made profits by short-selling stocks that were inflated by illegal means by the Indian stockbroker, Harshad Mehta in 1990s.
In 1995, he individually became the largest shareholder of HDFC Bank after it went public. After the famous Harshad Mehta Scam came into highlight in 1992, there was a considerable rise in Radhakishan's income.
In 1999, he operated a franchise of Apna Bazaar. He led the business of the cooperative department store. However, he was "unconvinced" by its business model. He decided to quit stock market in 2000 to start his own hypermarket chain, DMart.
Sweta
Radhakishan Damani v/s Harshad Mehta
Radhakishan combated Harshad Mehta, one of the most powerful trader of Dalal Street of that time. There was a dark phase in the Indian stock market from the late 1980s to the early 1990s. Radhakishan made a group with two of his friends and named it the triple-R's.
Harshad and the triple R's invested in an Indian company called Apollo Tyres. They both battled over the company's shares for 2 years. Eventually, Radhakishan finally won the battle and established his prominence in the stock market. Even after bidding high valuations, Harshad lost the battle as he was accused of a huge scam in 1992.
Radhakishan Damani - Founder of DMart
In 2002, Radhakishan established the first store of DMart in Powai, Mumbai. By 2010, the company already had 25 stores and the company elevated to new heights after it went public in 2017. As of 2020, it has 214 DMart stores across India.
The company became public after the IPO listing as Avenue Supermarkets Limited. It eventually made a record opening on the market on the National Stock Exchange.
Radhakishan Damani - Bright Star Investments Private Limited
Radhakishan was appointed as the Director of Bright Star Investments Private Limited on 15 March, 1996. The company was incorporated on 20 September 1989, based in Mumbai. It is classified as a private firm and operates as a financial service firm.
The company is basically a service provider that provides investment, equity, commodities, mutual fund and other financial services. The operating investment range of Bright Star is INR 1 crore to 100 crore for the financial year ending on 31 March, 2019.
Megha Rani
Radhakishan Damani - Investments
Radhakishan holds a stake in a substantial range of companies, including the tobacco firm VST Industries to the cement producer company India Cements.
He holds a 1% stake in Andhra Paper. He also has 15% stake in India Cements and it increased to 19.89% in May 2020. His investment portfolio displayed 10 stocks with the total value of $10.05 billion (INR 80,000 Crore) in 2020.
He eventually became one of the leading stock-market investors in the country. Some investments stocks from his portfolio includes the logistics service provider Blue Dart Express Ltd., the beer maker United Breweries, and Sundaram Finance.
Radhakishan Damani - FAQs
Who is Radhakishan Damani?
Radhakishan Damani is an Indian businessman who is known for establishing DMart. He is an active Investor and manages his portfolio through his investment firm, Bright Star Limited.
Who is the founder of DMart?
Radhakishan Damani is the founder of the DMart.
What is the net worth of Radhakishan Damani?
The Radhakishan Damani net worth is $18.9 billion as of 2021 according the Forbes.
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