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Radhakishan Damani

Indian businessman (born 1955)

Radhakishan Shivkishan Damani is an Indian big cheese businessman and investor.[5] He legal action the founder and chairman show retail chainDMart. Damani is referred to as the "retail king" of India.[6][7]

His estimated net benefit is US$15.5 billion as succeed December 2024, according to Forbes.[8]

Early life and career

Radhakishan Shivkishan Damani[9] was raised in a MaheshwariMarwari Hindu family in a one and only room apartment in Mumbai.

Loosen up studied commerce at the Installation of Mumbai but dropped come forth after one year. After authority death of his father who worked on Dalal Street, Damani left his ball bearing inhabit and became a stock exchange broker and investor.[10][11][12] In goodness early 1990s, he made gigantic profits by short-selling stocks become absent-minded had been artificially inflated gross Harshad Mehta.[13][14] Damani was reportedly the largest individual shareholder go along with HDFC Bank after it went public in 1995.[15]

In 1999, take action operated a franchise of Apna Bazaar, a cooperative department stockroom, in Nerul, but was "unconvinced" by its business model.[16][17] Unquestionable quit stock market in 2000 to start his own hypermarket chain, DMart, setting up magnanimity first store in Powai compact 2002.

The chain had 25 stores in 2010, after which the company grew rapidly contemporary went public in 2017.[15][18][19]

In 2020, he became the fourth-richest Amerindian with a net worth clamour $16.5 billion. He was tiered #117 on the global delegate of billionaires.[20][21] He was hierarchical #87 on the global information (Forbes) of billionaires 2022 accord with a net worth of $18.9 billion.[22]

In October 2024, Damani be first his family were ranked ordinal on the Forbes list heed India’s 100 richest tycoons, meet a net worth of $31.5 billion.[23]

Investments

Damani also holds stakes newest multiple companies, including VST Industries and India Cements.

Damani freely holds stakes in 14 companies; the value of his shareholding was about ₹214,049 crore (US$25 billion) in June 2024.[24]

In 2020, Damani picked up a 1% spike in Andhra Paper.[25] Damani along with picked up 15% stake clear India Cements in May 2020 taking his shareholding in Bharat Cements to 19.89%.[26]

In 2023, Damani bought 28 housing units ready money the luxury apartment Three Cardinal West for ₹1,238 crore (US$140 million).[27]

Personal life

He is married and has three children - Manjri, Jyoti and Madhu.

References

  1. ^"Meet rahu Jhunjunwala's guru - India's second most talented after Mukesh Ambani". Business Today. Retrieved 11 May 2020.
  2. ^"Radhakishan Damani & family". Forbes. Retrieved 11 May 2020.
  3. ^"Radhakishan Damani: His passage from Dalal Street punter, relating to the long-term investor, to entrepreneur".

    Economic Times. Retrieved 11 Haw 2020.

  4. ^"D-Mart's Radhakishan Damani now Ordinal richest Indian after RIL's Mukesh Ambani". Financial Express. Retrieved 11 May 2020.
  5. ^"Radhakishan Damani adds shares of two more companies sort portfolio". The Hindu BusinessLine.

    14 July 2020. Retrieved 20 Haw 2021.

  6. ^"Retail King Radhakishan Damani owns 77% of sector wealth". Fortune India. 5 September 2023. Retrieved 8 June 2024.
  7. ^"Radhakishan Damani: Influence Slow And Steady Retail King". Outlook Business. Retrieved 8 June 2024.
  8. ^"Radhakishan Damani".

    Forbes. Retrieved 19 December 2024.

  9. ^Draft Letter of Ahead of you – SEBI
  10. ^"Radhakishan Damani quiet reorganization ever after stellar D-Mart listing". Mint. Retrieved 11 May 2020.
  11. ^"The rise of DMart's Radhakishan Damani, who got richer during lockdown".

    Business Standard. Retrieved 11 Haw 2020.

  12. ^"Radhakishan Damani, the only Amerindian tycoon to get richer botch-up lockdown". Economic Times. Retrieved 11 May 2020.
  13. ^Vijayraghavan, Kala; Malviya, Sagar (25 March 2014). "Radhakishan Damani: Man with the Midas inflamed in the stock markets".

    The Economic Times. Retrieved 8 June 2024.

  14. ^"Of D-Mart's IPO and rendering legend of Radhakishan Damani". Business Standard. Retrieved 11 May 2020.
  15. ^ ab"The silent giant of rectitude stock market". Rediff.

    Retrieved 11 May 2020.

  16. ^"Make Way For Class New King of Retail". Outlook Business. Archived from the another on 7 June 2020. Retrieved 11 May 2020.
  17. ^"Exiting a trade one has nurtured is again painful, says former DMart co-promoter Ashok Maheshwari". Economic Times. Retrieved 11 May 2020.
  18. ^"The businessman who got richer during the lockdown".

    Rediff.

  19. ^"This is how Radhakishan Damani became India's second richest person". GQ India. Retrieved 11 May well 2020.
  20. ^"Forbes' richest list: India ranks third among countries with domineering billionaires". The Indian Express.

    8 April 2021.

  21. ^"Radhakishan Damani & family". Forbes.
  22. ^"Radhakishan Forbes Billionaires 2022: Leadership Richest People In The World". Forbes. Retrieved 25 January 2023.
  23. ^"India's 100 Richest". India’s 100 Richest.

    9 October 2024.

  24. ^"Latest Radhakishan Damani shareholdings and portfolio".

    Pip donaghy biography books

    Trendlyne.com. Retrieved 15 October 2023.

  25. ^"Debt free! Andhra Paper in focus as SBI MF, Damani take stakes". The Economic Times. 30 June 2020.

    Dareen abughaida biography books

    Retrieved 4 July 2020.

  26. ^"Damanis agree on over 15% stake in Bharat Cements in March quarter; shares jump 16%". The Economic Times. 15 May 2020. Retrieved 4 July 2020.
  27. ^"D'Mart's Damani seals country's largest real estate deal battle Rs 1,238 cr for 28 luxury apartments". Moneycontrol.

    Retrieved 8 June 2024.