India's liquor market is poised to grow to be one of the largest globally, and one prominent player in this market is Lalit Khaitan, owner of Radico Khaitan, a well-known brand known for its iconic offerings, which include Magic Moments, 8PM Premium Whisky, Rampur Indian Single Malt Whisky, Regal Talon Whisky, and more. He manufactures and supplies liquor not only in his home country but also in more than 85 other countries around the world. The company Radico Khaitan is situated in Delhi and currently has a market cap of approx Rs 23000 crore.
Lalit Khaitan, who is 80-year-old, has also become India's new billionaire, with a total net worth of $1 billion. Due to rising sales and the release of new drinks, such as Happiness in a Bottle gin, the publicly traded company's shares saw a more than 50% increase last year. Lalit hold 40% share stake in the company.
Lalit Khaitan, who is from Kolkata, attended St. Xavier's College in Kolkata as well as Mayo College in Ajmer for his education. He assumed control of Radico Khaitan in 1972–1973, a business with numerous liabilities, and used his management style to elevate it to new heights while maintaining the strictest standards of corporate governance.
Although in a favorable position to profit, Radico Khaitan faces many competitors. The biggest one is United Spirits, a listed Diageo subsidiary that was previously led by the colorful liquor magnate and former billionaire Vijay Mallya, who is currently on the run in London.
