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Nikhil Kamath, co-founder of Zerodha, has invested Rs 400 crore in Radico Khaitan, makers of 8PM whiskey and Magic Moments vodka.
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Kamath holds a 1.6-1.7% stake in the company, which he bought in the open market.
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Radico Khaitan has seen strong growth in recent years, with its millionaire brands growing 7% year-on-year in 2023.
Nikhil Kamath, billionaire investor and co-founder of Zerodha, has invested Rs 400 crore in Radico Khaitan, one of the largest manufacturers of Indian Made Foreign Liquor (IMFL) in India. Kamath’s stake in the company stands at 1.6-1.7%, which he acquired through an open market purchase. Radico Khaitan has seen significant growth in recent years, with its premium brands such as Magic Moments vodka and 8PM whiskey driving sales.
Kamath’s investment in Radico Khaitan is a testament to the company’s strong performance in the alcoholic beverage industry. Abhishek Khaitan, MD of Radico Khaitan, has been instrumental in transforming the company into a premium brand, with a focus on upgrading consumers to higher-end products. The company’s strategy has paid off, with Radico Khaitan outperforming its peers in the industry.
Radico Khaitan’s success can be attributed to its ability to adapt to changing consumer preferences and its focus on premiumization. The company has a strong portfolio of brands, including Rampur premium Indian single malt whiskey and Jaisalmer Indian craft gin. With Kamath’s investment, Radico Khaitan is well-positioned to continue its growth trajectory in the coming years.
