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Radhakishan Damani: From Stock Market Maverick to India’s Retail King

Radhakishan Damani
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Radhakishan Damani represents one of India’s most remarkable rags-to-riches stories, transforming from a small-time stock trader to building India’s largest retail chain DMart. Known for his simple white attire and reclusive nature, Damani’s journey exemplifies strategic business acumen and long-term vision.

Personal Information Tables

Personal Details

AttributeDetails
Full NameRadhakishan Shivkishan Damani
Known AsMr. White and White, Retail King of India
Date of BirthMarch 15, 1954
BirthplaceMumbai, India
NationalityIndian
EducationDropped out after one year of B.Com (University of Mumbai)
Net Worth$23.7 billion (August 2024)
OccupationBusinessman, Investor, Retailer

Family Information

RelationDetails
FatherShivkishan Damani (Stockbroker)
SpouseMarried
ChildrenThree (Manjri, Jyoti, and Madhu)

Timeline of Major Events

1954: Born in Mumbai
1976: Dropped out of college
1986: Entered stock market at age 32
1992: Made significant profits during Harshad Mehta scam
1995: Became largest individual shareholder in HDFC Bank IPO
1999: Started Apna Bazaar franchise
2002: Opened first DMart store in Powai
2010: Expanded to 25 DMart stores
2017: DMart IPO launch
2024: Owns 366 stores across 12 states

Career Evolution

Stock Market Journey

  • Started as a broker after father’s death
  • Learned from mentor Chandrakant Sampat
  • Made fortune shorting during Harshad Mehta scam
  • Known for value investing approach

Retail Empire

  • Founded Avenue Supermarts (DMart)
  • Focused on ownership model rather than rental
  • Implemented low-cost, high-volume strategy
  • Achieved 22% market share in Indian retail

Business Philosophy

  • Focus on long-term value creation
  • Ownership of store properties
  • Low-cost operations
  • Customer-centric approach
  • Conservative expansion strategy

Philanthropy

  • Donated ₹100 crore to PM-CARES Fund
  • Contributed ₹55 crore to state relief funds
  • Runs Shivkishan Mindaram Damani Charitable Trust
  • Provides affordable lodging for patients’ families

Legacy and Impact

  • Mentored famous investors like Rakesh Jhunjhunwala
  • Revolutionized Indian retail sector
  • Created successful business model
  • Inspired new generation of entrepreneurs

Personal Traits

  • Known for wearing white clothes
  • Maintains low profile
  • Rarely gives interviews
  • Focus on disciplined business approach

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