Facts About D-Mart | Radhakishan Damani Owner Of D-Mart

Facts About D-Mart | Radhakishan Damani Owner Of D-Mart
  • Damani was raised in a Maheshwari family in single room apartment in Mumbai. He studied commerce at the University of Mumbai but dropped out after one year. After the death of his father who worked on Dalal Street, Damani left his ball bearing business and became a stock market broker and investor.[7][8][9] He made profits by short-selling stocks that were inflated by illegal means by Harshad Mehta in the 1990s.[10] Damani was reportedly the largest individual shareholder of HDFC Bank after it went public in 1995.[11] In the year 1992, after the Harshad Mehta Scam came to limelight, he saw a major rise in his income due to the short-selling profits during the time. In 1999, he operated a franchise of Apna Bazaar, a cooperative department store, in Nerul, but was "unconvinced" by its business model.[12][13] He quit stock market in 2000 to start his own hypermarket chain, DMart, setting up the first store in Powai in 2002. The chain had 25 stores in 2010, post-which the company grew rapidly and went public in 2017. Today he has 214 DMart stores across India. [16] Damani keeps a low profile and rarely gives any interviews. He has also taught his Stock Trading Techniques to Indian Billionaire Rakesh Jhunjhunwala. Click Here For More Info