Rajan Raheja, an industrialist who owns businesses in cement, tiles, and automobiles, sold his company to Radhakishan Damani, one of India's richest man.
Rajan Raheja is an industrialist with businesses in cement, tiles, and automotives. He also owns Exide Batteries and sold a majority stake in Hathway to Mukesh Ambani's Reliance. One of Mumbai's wealthiest men, Radhakishan Damani, paid a reported sum of up to Rs 750 crore to acquire Health and Glow from the family offices of Rajan Raheja and Hemendra Kothari.
Founded in 1997, Health and Glow now has 175 locations across major cities, with its first store opening in Chennai. The company projects Rs 370 crore in revenue for FY 2023.
Maintaining a low profile, Rajan Raheja is a member of the Maharashtra-based Raheja property clan, whose combined net worth exceeds Rs 34800 crore, as reported by Forbes. Akshay Raheja, his son, is a board member of Raheja QBE General Insurance.
Aside from this, the person who purchased Health and Glow is among the richest people in India. He paid Rs 42 crore to purchase Bombay Swadeshi Stores in 2015; in addition, he owns 14 stocks and is estimated to be worth Rs 1,66,949 crore. Additionally, he owns a 21 percent stake in India Cements.