Will Radhakishan Damani head Jhunjhunwala Investments?

Will Radhakishan Damani head Jhunjhunwala Investments?

by Shreya Anaokar Last Updated: Dec 13, 2022 - 10:35 am 18.7k Views
Listen icon

According to the news by money control, skilled investor Radhakishan Damani is anticipated to take over as the principal trustee for Rakesh Jhunjhunwala's assets. The other two trustees will be Kalpraj Dharamshi and Amal Parikh in addition to Damani.

The bond of Friend, Philosopher, and Guide between Radhakishan Damani and Rakesh Jhunjhunwala

Rakesh Jhunjhunwala, one of the finest investors in Indian Markets, who passed away on August 14, regarded Damani as his ‘guru.’ “You have no idea how close we are. But we don't form any partnerships, and we remain apart," Jhunjhunwala had stated in a TV interview a few years prior.
The ‘Big Bull’ met Damani by chance in 1987–88 on the sidewalk in front of the Bombay Stock Exchange, or BSE as it was then known. Damani proved to be the perfect friend, philosopher, and mentor for him.
“One of the reasons why I say that life is God’s grace and elders blessing for all is because nobody introduced me to Radhakishan Damani. We met on the streets of the Bombay Stock Exchange,” he had said.
“For example, he taught me that there is nobody bigger than your parents in your life,” the late investor had said while praising Damani’s patience, views, and practical ideas.
When Jhunjhunwala had turned 50, the otherwise reclusive Damani was seen in a video saying: “He gives so much respect to me that it puts me in embarrassing situations so many times.”

How heading to Jhunjhuwala Investment will impact Damani’s portfolio?

Radhakishan Damani will surpass $ 5.8 billion in wealth, making him the 48th richest person in India, according to Forbes. Damani publicly holds 14 stocks with a net worth of over Rs. 163,395.2 crores as of July 25, 2022, according to trendlyne.com. Besides Avenue Supermarts – VST Industries and India Cements are the most invested stocks among others in his portfolio list. Damani, a close friend of Jhunjhunwala, owns assets worth Rs 1.8 trillion. The D-mart chain of stores is operated throughout India by his retail business, Avenue Supermart. According to a Moneycontrol report on 22nd August, the 68-year-old will now have the final say in all of his listed investments.

The management of Jhunjhunwala's investment company, Rare Enterprises, will remain in the hands of Utpal Seth and Amit Goela. Seth assisted Jhunjhunwala with his investments, primarily in private equity, while Goela served as his right-hand man in managing the trade book of the company.

Jhunjhunwala is said to have "meticulously" planned out every aspect of his wealth before he passed away and asked Berjis Desai to draught his will. Rekha Jhunjhunwala, Jhunjhunwala's wife, will also play a "larger role" in managing Rare, the report continued.

Trade of the Century- ‘Titan’:

Titan was regarded as his largest investment and was dubbed the "Trade of the Century." In 2002–2003, Jhunjhunwala purchased shares of the company at an average cost of Rs. 3 per share. At the current price of over Rs 2,400 per share, Jhunjhunwala's Titan portfolio is worth Rs 11,000 crore.

Other bets by the Big Bull:

He also made sizable bets on Crisil, Tata Motors, Metro Brands, and Star Health. Jhunjhunwala made a capital commitment to Akasa Air in 2021; he co-founded the airline with Vinay Dube and Aditya Ghosh and owned a 40% stake in it.

Share Market Today

How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 


Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Paytm Share Price Surge 5% After Discontinuing Inter Company Pacts with PPBL

At 2.25 pm today, shares of One97 Communications the parent company of the renowned Paytm brand surged by 5% reaching ₹423.45.

NTPC Enters JV Agreement with Maharashtra State Power Generation

NTPC Green Energy Limited, a subsidiary of NTPC Limited, has partnered with Maharashtra State Power Generation Company Limited (MAHAGENCO) to lead the development of renewable energy parks in Maharashtra.

Happiest Minds Partners with Secureworks for Advanced XDR Services

Happiest Minds Technologies has recently announced its collaboration with the Secureworks Global MSSP Partner program to address the escalating need for Extended Detection and Response (XDR) services worldwide.