Radhakishan Damani, founder of hypermarket chain DMart, donates ₹100 cr to PM CARES Fund
Radhakishan Damani, Indian supermarket chain DMart’s Founder has donated ₹100 crore to the PM CARES Fund to fight against coronavirus pandemic in India and tackle the COVID-19.
Radhakishan has made the contribution through his group company Bright Star Investments. Additionally, Radhakishan Damani contributed ₹55 crore to coronavirus relief funds operated by eleven states in the country.
Radhakishan Damani holds 53.56% stake in D-Mart parent Avenue Supermarts Private Limited. Avenue Supermarts said in a statement that, each of us also needs to do our best to protect our communities.
We are fully supportive of the swift actions taken by the local, state, and central government bodies of India to protect the general public.
Avenue Supermarts also said that in this regard, Radhakishan Damani, our promoter, has contributed ₹100 crore towards the PM CARES Fund through his group company Bright Star Investments Private Limited and also contributed ₹55 crore to various state relief funds to fight against coronavirus pandemic.
Avenue Supermarts-owned DMart is present in more than 210 locations across India and it is an 18-year-old company multi-story hypermarket chain.
Radhakishan Damani’s is the founder of the mega-retail chain stores “D-Mart” in India. Mumbai based businessman, Entrepreneur, and billionaire investor are also known for his investments in the Indian equity market.
Donations to states include ₹5 crore each to Andhra Pradesh, ₹10 crore each to Gujarat and Maharashtra, Telangana, Karnataka, Punjab and Rajasthan and ₹2.5 crore each to Chhattisgarh, Tamil Nadu, Uttar Pradesh, and Madhya Pradesh.
Some of the other major corporate houses include ONGC and IOC over Rs 1,000 crore, Reliance ₹500 crore, BPCL ₹175 crore, Aditya Birla Group commits ₹500 crore, Adani announced a ₹100 crore contribution, HPCL ₹120 crore, among others to contribute towards the PM Cares Fund.
The employees of State Bank of India (SBI) also donated ₹100 crore to fight the novel coronavirus pandemic.