| 2 minutes read

2 minutes read

Success Story Of D-Mart Founder RK Damani Who Ranks 12th Among India’s Richest Men

| Published on January 23, 2019

You know how Forbes gives us the list of richest Indians? So, do you know who ranks 12th on that list? It is Radha Kishan Damani, the man with a net worth of more than $10 million and a proud Indian.

Who is Radha Kishan Damani?

The man, who the ace investor Rakesh Jhunjhunwala considers his Guru, is a Mumbai based Millionaire and businessman. And yes, He was a dropout in college from a BCom course under the University of Mumbai. However, it was only after his father’s death, at the age of 32, he started out as a stockbroker in his family business.

The Stock Market path

He did start out as a stockbroker but knew the hard truth about earning money. Trading, he had to do it. So along with the job, he started trading in the Indian Stock market. His earlier approach got him a lot of profits. He used market swings to his advantage and short-selling during the Harshad Mehta scam to earn his best.

However, he later for influenced by the ideology of Chandrakant Sampat and hence shifted to long-term approach in the stock market.

The Business shift

His interest in retail and smart planning allowed him to start his store chain, D-mart in 2002. The parent company is called ‘Avenue supermart’. Cut to 2017, there are more than 140 stores spread across multiple States including Maharashtra, Daman and Diu, Rajasthan, Telangana and many more. The company even offered it’s IPO in 2017 which turned out to be a big hit at a starting price of Rs 297 and the current price of Rs 1185.

Mr RK Damani, is actually the example of what works out. He took the right decisions and has put himself on a successful career path. Oh, he is also a very simple man, to say. The fact that he mostly wears White shirts and white trousers, had led to his nickname of ‘Mr White and White’.

A smart man who is sober and an inspiration.

Related Posts