Radhakishan Damani, one of the richest men in the country, has bought Health and Glow from the family offices of Rajan Raheja and Hemendra Kothari. The price of the deal reportedly is up to Rs 750 crore. Who is Rajan Raheja?
Rajan Raheja is an industrialist. He has businesses like cement, tiles, automotives. He also owns Exide Batteries. He also sold a majority stake in Hathway to Mukesh Ambani's Reliance. Kothari, meanwhile, founded DSP Investment Managers in 2008.
Radhakishan Damani is one of the richest men in India. In 2015, he bought Bombay Swadeshi Stores in 2015 for Rs 42 crore.
Radhakishan Damani holds 14 stocks and has an estimated net worth of Rs 1,66,949 crore, He holds a 21 percent stake in India Cements.
Health and Glow was launched in 1997. Its first store was opened in Chennai. They now have 175 stores in top cities. The company's expected revenue in FY 2023 is Rs 370 crore.
Rajan Raheja keeps a low profile. He comes from the Raheja property clan in Maharashtra.
His son, Akshay Raheja, is on the board of Raheja QBE, General Insurance.
The Raheja family's combined net worth is around Rs 24,609 crore, according to Forbes.
