Personal Information
- Full Name: Radhakishan S. Damani
- Date of Birth: July 12, 1954
- Place of Birth: Bikaner, Rajasthan, India
- Nationality: Indian
- Occupation: Investor, Entrepreneur
- Spouse: Shobha Damani
- Children: 3 daughters, including Manjri Chandak
Early Life and Education
- Radhakishan Damani was raised in a Marwari family in Mumbai.
- He briefly attended the University of Mumbai to pursue commerce but dropped out to support his family after his father’s death.
- Initially, Damani managed a small ball-bearing trading business before turning to stock market investing.
Stock Market Journey
- Damani entered the stock market in the late 1980s and became known for his conservative yet highly successful investment strategies.
- He made a name by identifying undervalued stocks and betting against overvalued companies during market downturns.
- His investments in companies like VST Industries, India Cements, and HDFC Bank earned him immense wealth and respect among market experts.
- His approach to investing earned him the nickname “Mr. White and White” due to his simple attire and straightforward demeanor.
Founding of DMart (2002)
- In 2002, Damani shifted focus from stock trading to the retail business and founded Avenue Supermarts Limited, which operates the DMart chain of hypermarkets.
- The first DMart store opened in Mumbai, offering a wide range of products at discounted prices, targeting middle-class families.
- His success was built on efficiency, cost control, and customer-centric strategies, helping DMart become one of India’s largest and most profitable retail chains.
Key Achievements of DMart
- IPO Success (2017): Avenue Supermarts’ initial public offering (IPO) was a massive success, making Damani one of India’s wealthiest individuals overnight.
- DMart became synonymous with value retail, successfully competing with global giants like Walmart and Amazon in India.
- The company operates over 300 stores across India, with plans for rapid expansion.
Investment Portfolio and Strategy
- Apart from DMart, Damani maintains a significant investment portfolio, holding stakes in companies like VST Industries, United Breweries, Blue Dart, and 3M India.
- His patient, long-term investment philosophy aligns with legendary investor Warren Buffett’s approach.
Net Worth and Recognition
- Regularly ranked among India’s wealthiest individuals by Forbes.
- Known for maintaining a low profile despite his tremendous success.
- His wealth and influence in both the stock market and retail industry continue to grow.
Philanthropy and Social Contributions
- Damani is actively involved in philanthropic activities but prefers to keep his charitable contributions private.
- He has funded educational and healthcare initiatives for underserved communities.
Legacy
Radhakishan Damani is celebrated as a self-made billionaire who transformed both the retail and stock market landscapes in India. His disciplined, value-driven strategies and customer-first approach have made him a business icon and a source of inspiration for aspiring entrepreneurs and investors alike.
