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In a surprising revelation, Zerodha co-founder Nikhil Kamath disclosed his significant investment in the liquor industry. Kamath, who has kept this investment private until now, shared on his podcast that he has invested in Lalit Khaitan’s Radico Khaitan, known for popular brands such as Magic Moments vodka, 8PM Whisky, Old Admiral brandy, and Rampur single malt.
Kamath, 37, stated that his 1.6-1.7 percent stake in Radico Khaitan is valued at approximately ₹400 crore, acquired through open market transactions. “We have ₹400 crore of Abhishek’s stock – Radico, which is a great investment for me, so don’t blame me for being a bit nicer to him,” Kamath remarked during the podcast.
The podcast episode featured Abhishek Khaitan, Managing Director of Radico Khaitan, alongside Minakshi Singh, co-founder of SideCar, Shuchir Suri, co-founder of Gin Explorer’s Club, and Suraj Shenai, founder of Goa Brewing Co. The discussion touched upon the dynamics of the liquor industry and the growth of Radico Khaitan.
Radico Khaitan, with a market capitalization of ₹22,949 crore, initially focused on bottling before transitioning to branded beverages in 1997. The company competes with United Spirits, Stilldistilling Spirits India, and Third Eye Distillery Holdings.
However, Kamath’s endorsement of the liquor industry has drawn criticism from some quarters. Dr. Cyriac Abby Philips, known as “The Liver Doc,” criticized Kamath for promoting alcohol consumption. Dr. Philips argued that glorifying the alcohol business and suggesting that moderate drinking is beneficial constitutes health misinformation. He emphasized the importance of debunking the myth that “alcohol in moderation is good for you” and highlighted the need for caution even with disclaimers like “drink responsibly.”
Sources By Agencies
