Unveiling the Stocks India’s Richest Investor is Placing Big Bets On

The founder of DMart, Radhakrishna Damani, began his career as an investor and continues to do so today, with holdings across 14 companies and a net worth of 1,62,010 crore.

His holdings are worth more than those of Jhunjhunwala & family, who sit second on the list of India’s richest investors.

His 67% stake in Avenue Supermarts, which he founded in 2001 and publicized in 2017, provides around 96% of his wealth. While the DMart stock has been beaten down in the last year, he still has stakes in many companies worth over 500 crore – making him rich even as his stakes in DMart have grown.

Holdings of Radhakrishna Damani in listed companies

Multibagger Mr White

A well-known recluse, 68-year-old Damani started his career as a stock broker but soon realized that to make ‘his own money’ he had to become a trader and investor.

In his portfolio, he still holds India Cements, VST Industries, and Sundaram Finance, all multibaggers he had picked early on.

Avenue Supermarts, which owns DMart, saw its marketcap rise 7.2 times since listing, enabling him to break into Hurun’s Global Top100 rich list, last year.

Damani is also one of the rare investors who has turned into a successful entrepreneur.

Richest abode

Despite knowing little about his lifestyle, he is living the life a billionaire deserves. In the last two years, he has bought some of Mumbai’s most expensive homes.

Zapkey data indicates he paid a whopping 1,001 crore for a 90-year-old house in Malabar Hill in 2022.

Damani bought the most expensive property in Mumbai this year, spending 1,238 crore on Oberoi Three Sixty West in Worli – indicating his love of real estate and stocks.

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