Billionaire Radhakishan Damani contributes ₹100 cr to PM CARES Fund

Promoter of Avenue Supermarts, Radhakishan Damani has contributed Rs 100 crore to the PM-CARES Fund for the fight against the Coronavirus pandemic.

He also contributed Rs 55 crore to several state relief funds. Damani has made the contribution through his group company Bright Star Investments.

"We are fully supportive of the swift actions taken by the central, state and local government bodies of India to protect the general public. Each of us also needs to do our best to protect our communities and fellow countrymen," a statement by Avenue Supermarts said.

"In this regard, our promoter, Radhakishan Damani through his group company Bright Star Investments Private Limited, has contributed Rs 100 crore towards the PM CARES Fund and a further Rs 55 crore to various state relief funds," it said.

Donations to states include, Rs 10 crore each to Maharashtra and Gujarat, Rs 5 crore each to Andhra Pradesh, Telangana, Karnataka, Rajasthan and Punjab and Rs 2.5 crore each to Tamil Nadu, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.

Damani's Avenue Supermarts Ltd owns and operates the one-stop supermarket chain DMart. Damani is also known for his investments in the Indian equity market.

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