Latest News

  • Home
  • National
  • D-Mart’s Radhakishan Damani now 2nd richest Indian after RIL’s Mukesh Ambani
D-Mart’s Radhakishan Damani now 2nd richest Indian after RIL’s Mukesh Ambani
Wednesday, February 19, 2020 IST
D-Mart’s Radhakishan Damani now 2nd richest Indian after RIL’s Mukesh Ambani

Avenue Supermart founder Radhakishan Damani is now the second richest Indian after leaving behind heavyweight names such as philanthropist Shiv Nadar, banker Uday Kotak, and industrialists Gautam Adani and Lakshmi Mittal.

 
 

Avenue Supermart founder Radhakishan Damani is now the second richest Indian after leaving behind heavyweight names such as philanthropist Shiv Nadar, banker Uday Kotak, and industrialists Gautam Adani and Lakshmi Mittal. With a total wealth of $17.9 billion, according to Forbes’ Real Time Billionaires’ Index, investor and retailer Radhakishan Damani is just behind Reliance Industries Ltd. chairman Mukesh Ambani, who is not only India’s but Asia’s richest man. Radhakishan Damani and family saw an upsurge in their wealth by about $96 million, an increase by 0.54%, on Friday. On the other hand, Mukesh Ambani has a total net worth of $57.9 billion. 
 
Shares of Avenue Supermarts hit an all time high at Rs 2,559 apiece on February 13 on BSE. The company had announced a share sale for institutional investors on February 5. Its promoters had also said that they will sell up to a 2.28% stake through an offer for sale (OFS). The same is expected to bring as much as Rs 3,032.5 crore to Avenue Supermarts. In a BSE filing, the company said four of the company’s promoters viz Radhakishan Damani, Gopikishan S Damani, Shrikantadevi R Damani and Kirandevi G Damani will divest a total of 1.48 crore shares through the share sale and they will be sold at a floor price of Rs 2,049. However, after the announcement that Damani family is looking to offload its stake, DMart’s share prices witnessed a slee. 
 
The OFS opens for retail investors on February 17, Monday and for non-retail investors, it has opened on February 14, Friday. Avenue Supermarts was listed in 2017. While its initial m-cap stood at Rs 39,988 crore, the same has ballooned to Rs 1.58 lakh crore. 
 
One of the most profitable grocery retail chains in India, Avenue Supermarts has 196 stores in the country. 

 
 

 
 
 
 
 

Related Topics

 
 
 

Trending News & Articles

 Article
'Worse than prison': A rare look inside China's detention camps to 'brainwash' Muslims

ALMATY: Hour upon hour, day upon day, Omir Bekali and other detainees in far western China's new indoctrination camps had to disavow the...

Recently posted . 199K views . 1 min read
 

 Article
What The Shape Of Your Belly Button Says About Your Health

If you have payed attention to the belly buttons of people on the beach or the members of your family, you have probably noticed that they have different shapes and...

Recently posted . 8K views . 2 min read
 

 Article
Top 10 Horrifying Acts of Chemical Warfare and Gas Attacks

In this age of terror, there might be nothing more terrifying than the thought of an attack carried out with chemical weapons. We’ve all heard the horrific ...

Recently posted . 3K views . 4 min read
 

 Article
Top 10 Best Gym Equipment Brands in India 2018

Body fitness is one thing that everyone wants to maintain irrespective of age. Going to the gym and doing some great exercise always helps to maintain your body fit...

Recently posted . 3K views . 2 min read
 

 
 

More in National

 Article
8 Style “Mistakes” Fashion Girls Notice

Much like fame, fashion is also very fickle. What’s trending in the morning is outdated by the time the sun sets, and what you might consider passé oft...

Recently posted. 686 views . 2 min read
 

 Article
Bumblebee Has Officially Been Added To The Ever-Growing List Of Endangered Species

Definitely not something to be proud of, as the bumblebee, once very frequent in the American mainland, has been admitted to the endangered list of animals. This ...

Recently posted. 669 views . 2 min read
 

 Article
Are You Emotionally Stable? Chances Are You Splurge More on a Holiday

The research suggests that personality traits are related to more specific spending behaviours, which should in turn impact the broad outcomes like long term fina...

Recently posted. 632 views . 1 min read
 

 Article
Climate Change: Half A Million Mussels 'Cooked Alive' In Warm Waters Near New Zealand Coast

For a New Zealand resident, a walk along the country's North Island coastline led to a shocking discovery. A man named Brandon Ferguson chanced upon thousands o...

Recently posted. 596 views . 1 min read
 

 Article
SCIENTISTS WARN THAT THE EARTH IS LITERALLY DYING

"POLICIES TO COMBAT THE CLIMATE CRISIS OR ANY OTHER SYMPTOMS SHOULD ADDRESS THEIR ROOT CAUSE: HUMAN OVEREXPLOITATION OF THE PLANET."

Recently posted. 912 views . 1 min read
 

 
 
 

   Prashnavali

  Thought of the Day

If you want something you never had, you have to do something you’ve never done.
Thomas Jefferson

Be the first one to comment on this story

Close
Post Comment
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


ads
Back To Top