DMart owner: Radhakishan Damani and family hold 74.48% of Avenue Supermarts
DMart is owned by listed Avenue Supermarts. Founder Radhakishan Damani and his family hold 74.48%, with Damani personally at 22.98% and his family office Bright Star Investments at 13.61%.
DMart is owned by Avenue Supermarts Ltd, a listed company in which founder Radhakishan Damani and his family hold a 74.48% promoter stake as of the September 2026 quarter. Damani personally holds 22.98% and his family office, Bright Star Investments, holds 13.61%. The remaining shares are held by foreign institutions (about 8.5%), mutual funds (7.52%) and retail and other investors (9.2%), according to Upstox’s shareholding data on 9 November 2026. 12
Who owns DMart? Shareholding at a glance
| Shareholder | Stake |
|---|---|
| Promoter group (total) | 74.48% |
| Radhakishan Damani | 22.98% |
| Bright Star Investments Pvt Ltd | 13.61% |
| Gopikishan Damani | 5.59% |
| Five family beneficiary trusts | About 4.75% each |
| Jyoti Kabra, Madhu Chandak and Manjri Chandak | About 2.5% each |
| Foreign institutions | About 8.5% |
| Mutual funds | 7.52% |
| Retail and other | 9.2% |
The promoter figures are from the March 2026 shareholding disclosure published by Marketsmojo, and the promoter total of 74.48% for September 2026 is from Finology. None of the promoter shares are pledged. 123
Who founded DMart?
Radhakishan Damani, a stock-market investor, started DMart in 2000, and the first store opened in Mumbai in 2002. Avenue Supermarts operates the DMart hypermarket chain; see our DMart company page. The trusts and relatives listed above are part of the Damani family’s promoter group. 45
How much of DMart do outside investors own?
Public shareholders hold about a quarter of the company. Foreign institutions hold about 8.5% and mutual funds 7.52%, while retail and other investors hold 9.2%, according to the November 2026 filing aggregated by Upstox. Promoter ownership of 74.48% is just under the 75% cap that India’s rules set for listed companies, which means that any new promoter purchase would require a further share sale to the public. 13
Is DMart a government company?
No. DMart is a private-sector retail business, run by the listed company Avenue Supermarts. The government holds no stake, and Damani’s family is the controlling shareholder. 2
How much is the owner of DMart worth?
In the IDFC FIRST Private and Hurun India ranking of self-made companies published in December 2025, Avenue Supermarts was valued at ₹3 lakh crore, down 13% from the previous year, and ranked second behind Eternal. Damani’s personal fortune is covered in our guides to the top 10 richest people in India and self-made billionaires in India. 6
What happens next
The promoter stake has barely moved, from 74.65% in September 2025 to 74.48% in September 2026, so ownership of DMart is unlikely to change soon. The next shareholding pattern is due after the December 2026 quarter. For other retail and conglomerate owners, read who owns Flipkart and who owns IndiGo.
Frequently asked questions
Who is the owner of DMart?
DMart is owned by Avenue Supermarts Ltd, a listed company. Radhakishan Damani and his family hold a 74.48% promoter stake, including Damani’s own 22.98%.
Who founded DMart?
Radhakishan Damani founded DMart in 2000. The first store opened in Mumbai in 2002.
Is DMart owned by the government?
No. DMart is a private-sector retail chain run by a listed company, and the government holds no stake.
What is DMart's shareholding pattern?
Promoters hold 74.48%, foreign institutions about 8.5%, mutual funds 7.52% and retail and other investors 9.2%, as of November 2026.
