Mumbai: Radhakishan Damani, the main promoter of the retail chain organized Dmart, now among the 100 richest people in the world.
With a net worth of $ 19.2 billion, translating around 1.4 lakh crore rs, Damanii is now placed in the 98th position on the Bloomberg billionaire index.
Of the approximately $ 12 billion on March 1 last year, in almost 18 months, his clean wealth has surged more than $ 7 billion, or around Rs 50,000 Crore.
Dmart promoters currently accommodate 74.9% in the company.
This is only a little under the promoter regulation requirements of the sub-75% that holds the registered entity.
Among other things, Damani also held 11.3% of shares in India, 26% at VST Industries, 2.4% in Sundaram Finance and several other companies.
During the last 18 months, the price of Supmermarts Avenue, the parent company that runs Dmart, has jumped 64% to close Rs 3.652 in BSE.
Among them, at the peak of a Covid-induced sale in March last year, the stock also fell down the 1,800 rs.
Since then, shares have more than doubled because Dmart has shown a strong resistance to deal with economic slowdown.
In addition, the latest House Broking report said that company digital services made good steps to compete with established e-commerce giants.
The company has also succeeded in increasing the price of prices of articles sold in their shops.
“Based on data on the price of our FMCG products, we believe the current Dmart vs Jiomart price offer is the strongest since the last launched in 2020.
Compared to online competitors, large baskets, DMART price baskets remain competitive and the slit is almost the highest compared to the historical range, “Goldman Sachs said in his latest report at Avenue Supermart.