Meet the overnight billionaire: Radhakishan Damani
Just few days that the Forbes' list of Billionaires is out, we have a significant mark maker to the list of richest people on the planet. Almost every business page is talking about this person who has become a billionaire overnight through stock market. Radhakishan Damani is making the news on significant uplift in his net worth owing to the listing of shares of Avenue Supermarts on Bombay Stock Exchange at a premium of 102.14%. Damani and his family owned a large corpus of shares in Avenue Supermarts' which is the promoter Company of D Mart, a supermarket/ retail chain having operations in South and West India. Reports said that the shareholders of Avenue Supermarts will benefit only if the recent issue brought by the latter is subscribed at a premium of at least 50%. In addition to the said minimum, the Company debuted on the Bombay Stock Exchange at a premium of more than 102 percent leading to overnight growth of the value of shares held by Damani and his net worth