Radhakishan S Damani, founder, D-Mart, at the IPO listing ceremony of Avenue Supermarts in Mumbai on Tuesday. Photo: Suryakant Niwate
Avenue Supermarts is now the most valued Indian retail firm, with a market capitalisation of Rs 39,988 crore on the BSE. This is 3.3 times the Rs 12,000-crore market capitalisation of Kishore Biyani-promoted Future Retail, which is second on the list.
Avenue Supermarts also became the 65th most valued stock in India, ahead of Bank of Baroda, Interglobe Aviation (IndiGo), Idea Cellular, United Spirits, and even prominent FMCG companies
such as Britannia, Marico and Colgate.
The networth of promoter-founder, Radhakishan S Damani (including his family holdings) has also got a big boost, rising about $2.5 billion or Rs 16,300 crore in a day. Including the value of his holding in Avenue Supermarts, worth Rs 32,790 crore as of Tuesday, Damani's networth is now Rs 35,734 crore.
This is much ahead of the networth of Pawan Munjal (promoter of Hero MotoCorp), Rakesh Gangwal (Interglobe Aviation), Anil Ambani, Sajjan Jindal (JSW Steel), the Burman family (Dabur group), Nusli Wadia, Keshub Mahindra (M&M group), K P Singh and Ajay Piramal.