D Marts Market Cap One Lakh crore Radhakishan Damani top 5 richest Indians
Your net worth doubles in one night. Hearing this you must be feeling like winning big prizes on a lottery ticket. But something similar happened with Radhakishan Damani. His wealth increased by 100 percent in just 24 hours. After listening to these things, you must have also raised the question in your mind that who is this person and how his wealth was doubled.
The property was doubled in one night-
Radhakishan Damani was the owner of only one retail company till March 20, 2017, but on March 21, as soon as he rang the bell of the Bombay Stock Exchange (BSE), his wealth increased by 100 percent.
how did this happen:- (D Marts Market Cap One Lakh crore Radhakishan Damani top 5 richest Indians)
Radhakishan Damani was the owner of only one retail company till Monday, March 20, but on the morning of March 21, when his company’s IPO was listed in the stock market, his wealth has exceeded that of the Godrej family and Rahul Bajaj. The share of DMart was listed at Rs 604.40, while the issue price was kept at Rs 299. This is a return of 102%. In the last 13 years, there was no such increase in the price of any share on the day of listing.
Now included in the list of top-5 rich people:-
Radhakishan Damani’s wealth has increased by Rs 75 thousand crores in a year. Damani is the 5th richest person in the country with a net worth of $ 1207 million in the Forbes Real-Time Ranking.
Why Damani’s Jick Now:-
D-Mart was listed on March 21, during that time the share price was Rs 604. The total wealth of the company at this price was Rs 37,694.70 crore. Since the listing, the share of DMart has increased by 152.33 percent to Rs 1619.95. At this price, the company’s wealth has increased to Rs 1,01,098.56 crore. That is, the company’s wealth increased by Rs 63,403.86 crore.
The company’s stock reached its all-time high during Monday’s trading, taking the company’s market cap beyond Rs 1 lakh crore. With the increase in market cap, the company became bigger than FMCG giants like Nestle, Godrej Consumer, Dabur, and Britannia,
86,360 crore family’s wealth:-
According to the list of Forbes, Damani’s own wealth, which includes family, has increased to Rs 86 a thousand crores. Damani’s net worth was Rs 9,281 crore in July 2016. Which has increased to Rs 86,360 crore ($ 1270 million) in June 2018.
Staying out of the limelight:-
Radhakishan Damani always stays away from the headlines. He always wears white clothes and is popularly known as ‘Mr. White and White’ among stock market veteran investors. He started the retail business in 1999, a time when the steps of Kumar Mangalam Birla and Kishore Biyani of Future Group had not even entered this sector.
Keeping an eye on long-term investments:-
Like the world’s biggest investor Warren Buffet, Damani is also a value investor with a vision for long-term investments. Even when he became an entrepreneur, he retained his vision and built D-Mart without using any shortcuts.
Small start:- (D Marts Market Cap One Lakh crore Radhakishan Damani top 5 richest Indians)
Damani started small and showed no rush to expand. The small scale allowed him to control the supply chain and focus on profits from the very beginning. In the 15 years of its existence, D-Mart has earned a profit every year.
The quality of giving importance to your people:-
Damani started his business by taking the franchise of his market. From that time on he started building personal relationships with vendors and suppliers. He paid attention to both and he never let both of them get discouraged and there was never an out-of-stock situation in his stores.
buy cheap, sell at a low price:- (D Marts Market Cap One Lakh crore Radhakishan Damani top 5 richest Indians)
Damani knows very well what he is doing. They offer daily use products to the consumer at huge discounts. One of the ways they work is that they try to make payments to suppliers and vendors within a day, as against industry norms, which is around a week. Due to the initial payment, these people make goods available to them at a cheaper rate.
Avoid Credits:- (D Marts Market Cap One Lakh crore Radhakishan Damani top 5 richest Indians)
Credits and late payments are risky in the retail business, as they can badly affect your supply and cost. Damani stays away from credit and tries to make payments as quickly as possible to his suppliers