Radhakishan Damani

Last Updated on August 24, 2020

Radhakishan S. Damani is an Indian billionaire investor, businessman and the founder of DMart. As of February 2020, Damani is the second richest person in India. He also manages his portfolio through his Investment firm, Bright Star Investments Limited.

Radhakishan Damani's Latest Micro-Cap Stock Pick Has 130% Gain ...
Born1954 (age 65–66)
ResidenceAltamount Road, Mumbai
OccupationBusinessman, investor
Known forFounder of DMart
Net worthUS$17.9 billion (February 2020)

Radhakishan Damani is a Mumbai-based investor and entrepreneur. The self-made billionaire is the owner of the country’s third-largest mega-retail stores’ chain, ‘DMart.’ Radhakishan considers the first-generation investor Chandrakant Sampat as his mentor. He claims he has learned the techniques of dealing with risky business situations from Sampat. He started his career as a business trader, but a financial crisis at his home after his father’s death led him to become a stock-market investor. A few of Radhakishan’s initial years in the stock market were spent in observation and speculation. During this phase, he closely followed the stock-market strategies used by Manu Manek, one of the most dreaded market operators of the time.
Radhakishan gained a foothold in the business only after he overpowered the infamous Indian stockbroker Harshad Mehta. During the late 1980s and the early 1990s, Radhakishan invested heavily in multinational stocks and eventually became one of the leading stock-market investors in the country. He now holds stakes in companies such as the tobacco firm ‘VST Industries,’ the beer maker ‘United Breweries,’ and the logistics service provider ‘Blue Dart Express Ltd.’ Some of his best-performing stocks from his portfolio are ‘VST Industries,’ ‘Sundaram Finance,’ ‘India Cements,’ and ‘Blue Dart.’

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‘Forbes’ has ranked him as the 12th-richest person in India. Rakesh Jhunjhunwala, the Indian investor and trader who is regarded as the “Warren Buffet of India,” considers Radhakishan his mentor. Always dressed in spotless white clothes, Radhakishan began his success story as a humble trader and now rules ‘Dalal Street.’


Damani was raised in a single room apartment in Mumbai. He studied commerce at the University of Mumbai but dropped out after one year. After the death of his father who worked on Dalal Street, Damani left his ball bearing business and became a stock market broker and investor.He made profits by short-selling stocks that were inflated by illegal means by Harshad Mehta in the 1990s. Damani was reportedly the largest individual shareholder of HDFC Bank after it went public in 1995.

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In 1999, he operated a franchise of Apna Bazaar, a cooperative department store, in Nerul, but was “unconvinced” by its business model. He quit stock market in 2000 to start his own hypermarket chain, DMart, setting up the first store in Powai in 2002. The chain had 25 stores in 2010, post-which the company grew rapidly and went public in 2017.


Damani picked up a 1% stake in Andhra Paper. Damani also picked up 15% stake in India cements in May 2020 taking his investment in India Cements to 19.89%. Damani holds 10 stocks in his investment portfolio and total value of his stock portfolio is approx Rs 80000 cr(Approx 10.05 Billion USD) in 2020.

  • Veteran Mumbai investor Radhakishan Damani became India’s retail king after the March 2017 IPO of his supermarket chain DMart.
  • Damani got into retailing in 2002 with one store in suburban Mumbai and has been unstoppable since.
  • Damani also holds stakes in a range of companies, from tobacco firm VST industries to beer maker United Breweries.
  • His property portfolio includes the 156-room Radisson Blu Resort in Alibag, a popular beach-front getaway close to Mumbai.