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Sunday, June 23, 2024

8 PM Meet Lalit Khaitan Maker Rises to 80 to Become India’s Newest Billionaire

<p>Forbes just named 80-year-old Lalit Khaitan, the chairman of Delhi’s Radico Khaitan, the country’s newest billionaire. His estimated net worth has increased to an astounding $1 billion this year due to a noteworthy gain of more than 50% in the shares of his publicly listed firm. This increase is explained by his sizeable 40% ownership position in the business.</p>
<p><img decoding=”async” class=”alignnone wp-image-308412″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-8-pm-meet-lalit-khaitan-maker-rises-to-80-to-become-indias-newest-billionaire-imag-750×375.jpg” alt=”theindiaprint.com 8 pm meet lalit khaitan maker rises to 80 to become indias newest billionaire imag” width=”1152″ height=”576″ title=”8 PM Meet Lalit Khaitan Maker Rises to 80 to Become India's Newest Billionaire 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-8-pm-meet-lalit-khaitan-maker-rises-to-80-to-become-indias-newest-billionaire-imag-750×375.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-8-pm-meet-lalit-khaitan-maker-rises-to-80-to-become-indias-newest-billionaire-imag-1024×512.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-8-pm-meet-lalit-khaitan-maker-rises-to-80-to-become-indias-newest-billionaire-imag-768×384.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-8-pm-meet-lalit-khaitan-maker-rises-to-80-to-become-indias-newest-billionaire-imag-150×75.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-8-pm-meet-lalit-khaitan-maker-rises-to-80-to-become-indias-newest-billionaire-imag.jpg 1152w” sizes=”(max-width: 1152px) 100vw, 1152px” /></p>
<p>Lalit Khaitan: Who Is She?</p>
<p>Lalit Khaitan is the chairman of Radico Khaitan, a well-known business known for making a range of alcoholic drinks, including Rampur single malt, Old Admiral brandy, Magic Moments vodka, and 8 PM whiskey.</p>
<p>Before his father paid Rs 16 lakhs to purchase the Rampur distillery in 1972, Khaitan was a teetotaler. His father, GN Khaitan, came from a traditional Marwari household and was a lifetime teetotaler.</p>
<p>Education of Lalit Khaitan</p>
<p>Khaitan studied at prestigious universities like St. Xavier’s College in Kolkata and Mayo College in Ajmer. He graduated from Harvard University in the United States with a Bachelor of Science in Engineering from BMS College of Engineering in Bangalore.</p>
<p>Radico Khaitan, formerly known as Rampur Distillery & Chemical Company Ltd., changed its name. Lalit Khaitan’s father, GN Khaitan, bought the faltering business in the early 1970s.</p>
<p>When GN Khaitan divided the family companies among his four sons in 1995, Khaitan received the distillery from his father.</p>
<p>In a 2020 interview with Fortune, Lalit Khaitan said, “I was very clear that I wanted to be in the liquor trade from class 9 onwards,” according to Moneycontrol. Our market capitalization back then was close to Rs 5 crore. It is now more than Rs 5,000 crore.</p>
<p>Radico Khaitan was initially founded as a bottling facility with a focus on producing large amounts of alcohol, but it encountered difficulties. With the help of his son Abhishek, Lalit Khaitan decided to expand into the manufacturing of branded drinks as a solution to commercial challenges.</p>
<p>“We can either build our brands or go broke. I answered the call to launch our brand at that point,” the younger Khaitan said to Fortune.</p>
<p>The whiskey 8 PM was introduced in August 1998.</p>
<p>Radico Khaitan is now one of the top manufacturers of Indian Made Foreign Liquor (IMFL), with its brands available in over 85 countries.</p>
<p>Forbes claims that the corporation has reaped large rewards from its successful strategy of expanding its portfolio of premium brands.</p>
<p>Products by Radico Khaitan</p>
<p>It now consists of, among other things, Jaisalmer premium craft gin, 1965—Spirit of Victory rum, Rampur single malt, Morpheus brandy, and After Dark whiskey.</p>
<p>Lalit Khaitan has received several honors, including the UPDA (Uttar Pradesh Distillers Association) “Lifetime Achievement Award,” which was given to him in 2017.</p>
<p>Additionally, he was the recipient of the Confederation of Indian Alcoholic Beverage Companies’ “Inspirational Lifetime Achievement Award” at Alcobev 2008.</p>

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