These days Radhakishan Damani has reasons to feel cheerful, few days back his firm Avenue Supermarts had made to headlines with a 114 per cent listing day gain in the month of March and the stock soared over 12% in two sessions till April 7.
In a report published in Economic Times, the rise in stock has made him and his family wealthy by Rs 6, 100 crore. On Friday, the stock closed on Rs 714 and the closing price on Wednesday was Rs 631.60, therefore there was a rise of 18.82% on April 7.
Damani and his family members, including wife and brother Gopikishan Shivkishan has 82.2 per cent stake in the Avenue Supermarts.
As per Bloomberg Billionaire index, with $4.10 billion Damani is the 20th wealthiest man in India and comes in the list of top 500 billionaires in the world.
As per the real time data of Forbes which was released few days back , he is richer than Anil Ambani, Ajay Piramal, Rahul Bajaj. However, the top spot of the richest Indian was attained by Mukesh Ambani with an estimated net worth f $27.6 billion.
Out of total net worth of $5 billion, Damani owns share of $2.4 billion in his own name. His entry to the list of India’s richest man has come as a surprise to many as he keeps low profile. But as a broker he has a knack of picking right stocks
His firm is one of the most-valued retail firm in India. As per some market grapevine, Damani has invested in various companies and has been mentor of investor Rakesh Jhunjhunwala.