Radhakrishna Damani has holdings across 14 listed companies, includingAvenue Supermarts .- Damani started his career as a stock broker turned investor who is known to pick
multibaggers . - In the last two years, he has been snapping the most
expensive homes sold in Mumbai.
Sitting on top of the list of India’s richest investors, the worth of his holdings is ahead of Jhunjhunwala & family — who occupy the second position.
A chunk of his wealth at around 96% comes from his 67% stake in Avenue Supermarts which he founded in 2001 and took public in 2017. The stake is now worth ₹1,55,774 crore, but he has stakes in many companies that are well over ₹500 crore – adding to wealth even as DMart stock has been beaten down in the last one year.
Radhakrishna Damani’s holdings in listed companies
Source: Kotak Securities/Trendline
The Mr White of multibaggers
Known as Mr White for his love for the colour of clothing, 68 year old Damani is a well-known recluse. Born into a Marwari family, Damani started his career as a stock broker but soon realized that to make ‘his own money’ he needed to become a trader and an investor.
He was always known for his nose for multibaggers — a few that he had picked early on include India Cements, VST Industries and Sundaram Finance which still remain in his portfolio.
He started DMart at the turn of the century, which continues to be the star of his portfolio. Avenue Supermarts which, owns DMart brand, saw its marketcap rise 7.2 times since listing — a feat that enabled him to break into Hurun’s Global Top100 rich list, last year.
Damani is also one of the rare investors who have turned into successful entrepreneurs.
The abode of the rich
Though very little is known about his lifestyle — he is living the life that billionaires deserve. In the last two years, he has been snapping the most expensive homes sold in Mumbai – in addresses that host the country’s rich and the famous.
In 2022, he bought a 90-year-old home spread over 5,752 square meters in Malabar Hill for a whopping ₹1,001 crore, according to data by Zapkey.
According to a report by Sotheby’s, Damani snapped the most expensive home sold in Mumbai this year, spending ₹1,238 crore for a property at Oberoi Three Sixty West in Worli — indicating his love for real estate as well as stocks.