Going to DMart and getting our everyday utilities is now a common practice among us Indians. But do you know who is the founder of DMart?
He is none other than the Retail King of India, Radhakishan Damani. He is a famous person not only in India but also in many other countries. He is not only famous as a businessman but also as an efficient stockbroker. He was also a rival of Harshad Mehta.
Radhakishan Damani is also the owner of a multi-bagger portfolio.
If you are oblivious about Radhakishan Damani then don’t worry because in this blog I will talk in detail about Radhakishan Damani.
Who is Radhakishan Damani?
Radhakishan Damani also known as RD is an Indian stockbroker, investor, and businessman. He is also the 4th richest person in India. He founded DMart, a successful and profitable store, which earned him the title of the ‘retail king of India’. He was born in the year 1954 and as of the year 2022, he is 68 years old. He is popularly known as the white man by his close friends and family because of his love for white shirts and pants.
In the late ’90s, RD was part of Triple-R, they were rivals with Harshad Mehta.
Radahakishan Damani’s Family
According to sources RD was born in a very poor Marwari family. Radahakishan Damani’s father Shivkishanji Damani was also a stockbroker on Dalal street.
Radhakishan Damani has one sibling, Gopikishan Damani and he is a stock trader and investor.
Raddhakishan Damani was married to Shrikantadevi Radha Kishan Damani. The couple has three daughters namely Manjri Damani, Chandak, Jyoti Kabra, and Madhu Chandak.
Radhakishan Damani’s Early Days
Radhakishan Damani was born in an unprivileged poor family in Bikaner, Rajasthan. He completed his schooling in Mumbai and was enrolled in the University of Mumbai and was pursuing a Bachelor of commerce but he didn’t seem to enjoy his college much as a result of which he dropped out in his 1st year of college.
Radhakishan Damani’s Physical Appearance
|Height||5 feet 3 inches|
|Weight in pounds.||158 lbs|
|Hair color||Salt and pepper (semi bald)|
Radhakishan Damani’s Career
Radhakishan Damani had a bright career both as an investor and as a businessman.
Radhakishan Damani’s Career As a Stock Market Broker
After being fed up and dropping out from his college Radahakishan Damani started his ball-bearing business. At the age of 32, unfortunately, Radhakishan Damani lost his father, and after that, he quit his ball-bearing business and entered the world of the stock market.
When the white man joined the stock market it was ruled by the black cobra, Manu Manek.
It is said that young Radhakishan used to stand at the back of the crowd and see the black cobra performing and engulfing all other stock brokers. He was inspired by Manu Manek and learned short selling tactics from him. He also used his short selling tactics against Harshad Mehta.
Radhakishan Damani was also part of Manu Manek’s bear cartel and it was rumored that Radha Kishan Damani is a member of ‘Triple-R’, a group formed to counter Harshad Mehta. Radhakishan Damani used to make a profit by short-selling stocks whose prices were inflated illegally by Harshad Mehta.
Before the year 1995, Radha Kishan Damani was the largest individual shareholder of HDFC bank after that the bank went public in 1995. After the exposure of Harshad Mehta’s scam of 1992, Radhakishan Damani made a huge profit by short-selling profits. Radhakishan Damani is also the teacher of the Indian billionaire Rakesh Jhunjhunwala.
He quit the stock market in the year 2000 to start his own supermarket chain.
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Radahakishan’s Career as a Businessman
In the year 1992 Radhakishan Damani started a franchise called ‘Apna bazaar’, a departmental store in Nerul. But he was not satisfied bu its business model. He went to the USA and was impressed by supermarts like Walmart and decided to bring the same idea to India.
In the year 2000, he quit the stock market and started his own chain of supermarkets called DMart. The first store of Dmart was set up in Powai in the year 2002. After that, the chain grew enormously and went public in 2017.
Today there are more than 234 DMart stores across all states of India. In 2020 he became the 4th richest man in India and was ranked #117 on the global list of billionaires.
Radhakishan Damani After The Scam of 1992
After the scam of 1992 many investors lost a huge amount of their money. Radhakishan Damani helped many small-scale investors and bought their depreciated shares.
Radhakishan Damani’s net worth and portfolio. Raddhakishan’s net worth is around $20.5 billion and he holds two physical assets. Radisson blu resort in Maharashtra. A beachfront gateway home near Mumbai. Radhakishan Damani’s portfolio can be accessed here.
(FAQ) Frequently Asked Questions about Radhakishan Damani
These are some frequently asked questions about Radhakishna Damani.
1. Is Radha Kishan Damani Gujrati?
No, Radhakishan Damani was born in a Marwari family in Bikaner, Rajasthan.
2. What is the age of Radha Kishan Damani?
Radhakishan Damani is 67 years old and he was born on 16 august 1954.
3. Is Radha Kishan Damani a CA?
No, Radha Kishan Damani is a business tycoon and an investor, he is not a CA.
4. Who is the founder of DMart?
Radhakishan Damani is the founder of DMart.
5. Who is the teacher of Radhakishan Damani?
Radhakishan Damani’s mentor is Chandrakant Sampat.
6. When did Radha Kishan Damani start investing?
He started investing at the age of 32.
So this was all about Radha Kishan Damani. He is a prominent businessman and investor. As of now, he doesn’t take part in any event related to the stock market and also keeps his profile low. He usually avoids interviews and stays away from the media.
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