India is a land of opportunities, where many people have made their fortunes by investing wisely and strategically. Some of these most prominent investors in India are well-known, while others prefer to keep a low profile. But who are the top investors in India in 2023? And how did they achieve such massive success? What strategies did they adopt? And, finally, how do you become a successful investor in India?
This article will reveal India’s top 10 most prominent investors in 2023 based on their net worth, portfolio, and investment philosophy. We will also explore their backgrounds, achievements, and investing strategies.
Whether you are an aspiring investor, a curious reader, or a fan of these billionaires, you will find this article informative and inspiring. So, without further ado, let us begin with the list of 10 leading investors in India in 2023.
1. Radhakishan Damani
Radhakishan Damani tops the list of richest investors in India. He is a self-made billionaire who rose from humble beginnings to become the founder and Chairman of DMart, one of India’s leading retail chains. He is also a savvy investor with stakes in various companies across different sectors.
Investing Strategy
Radhakishan Damani follows a long-term approach, investing in fundamentally strong stocks and holding them long-term. Damani’s portfolio demonstrates a balanced and well-diversified portfolio. He is known for prompt rebalancing and adapting to the changing market and economic conditions.
Some of the stocks in his active portfolio include
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| Avenue Supermarts Ltd | 67.24% | 43.44% | Rs. 109060.09 |
| The India Cements Ltd | 20.78% | Filing Due | Rs. 1656.97 |
| VST Industries Ltd | 30.71% | Filing Due | Rs. 1734.40 |
| Advani Hotels and Resorts Ltd | 4.18% | Filing Due | Rs. 22.26 |
| Mangalam Organics Ltd | 2.17% | 2.17 | Rs. 7.57 |
2. Raamdeo Agrawal
Next on the richest investors in India list is Raamdeo Agarwal. He is a Chartered Accountant, a prominent businessman, and one of the leading investors in India. In 1987, he co-founded Motilal Oswal Financial Services Limited (MOFSL) with his friend Motilal Oswal, and today he is the Chairman of the group,
Investment Strategy
We can see from Raamdeo Agarwal’s investing strategy, one of India’s leading investors, that he seeks value rather than price. He believes investing in a business that one understands, has a high return on capital and cash flow, and is available at a reasonable price is a good idea. He also promotes long-term investing, discipline, diversification, conviction, and competition analysis.
Some of the stocks in his active portfolio include
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| Motilal Oswal Financial Services Ltd | 31.51% | 31.45% | Rs. 7200.8 |
| Maharashtra Scooters Ltd | 1.54% | Filing awaited | Rs. 138.1 |
3. Ramesh Damani
Ramesh Damani, one of the biggest investors in India, is also a BSE member and pursues the Warren Buffet investing model. He is known to have generated wealth by investing in listed and unlisted companies with solid management credentials and processes. Damani is the founder of Ramesh S Damani Finance Pvt Ltd.
Investing Strategy
Ramesh Damani, one of the leading investors in India, is well-known for identifying top-quality value companies that can last for generations. Damani believes that if your portfolio doubles every three years, you have done an excellent job as an investor; otherwise, you should rework your calculations.
Some of the stocks in his active portfolio include
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| Goldiam International Ltd | 1.6% | 1.6% | 28.9 Cr |
| Vadivarhe Speciality Chemicals Ltd. | 1.5% | 1.5% | 79 Lacs |
| Garden Reach Shipbuilders & Engineers Ltd. | 1.1% | 1.1% | 110.6 Cr |
| Panama Petrochem Ltd. | 1.2% | 1.2% | 22.6 Cr |
4. Ashish Dhawan
Another popular name in the list of the biggest investors in India is Ashish Dhawan, who plunged into philanthropy to build Ashoka University, relinquishing his flouring investing career. In partnership with Raj Kondur in 1999, Dhawan founded an equity firm named ChrysCapital. This later went on to become one of the biggest funds in India.
Dhawan gave up his 100% equity in ChrysCapital to build the non-profit organizations Central Square Foundation, Convergence Foundation, and the prestigious Ashoka University.
Investing Strategy
With more than 20 years of experience in investment management, Ashish Dhawan has a portfolio based on solid research. One of the top investors in India, Dhawan knows how to make money from the market with a smaller number of shares in his portfolio, thanks to his past experiences. His current portfolio is ideal for the existing market scenario, and his skills in picking stocks are widely praised.
Some of the stocks in his active portfolio include
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| AGI Greenpac Ltd | 4.79% | Filing Due | 264.01 |
| Arvind Fashions Ltd | 4.94% | Filing Due | 318.42 |
| Dish TV India Ltd | 1.57% | Filing Due | 61.53 |
| Glenmark Pharmaceuticals Ltd | 2.6% | 2.6% | 640.19 |
| Greenlam Industries Ltd | 3.8% | 3.8% | 252.05 |
5. Mohnish Pabrai
Mohnish Pabrai, an Indian-American value investor, is next on India’s biggest investors list. He is famed for spending $650,000 on lunch with his mentor, Warren Buffet. Pabrai founded two investment firms, Pabrai Investment Funds and Dhandho Funds.
Investment Strategy
Pabrai, one of India’s biggest investors, believes that investing is more than just picking the best companies; it is also a complex art of finding the best deals. It is not necessary to make perfect decisions but rather to avoid costly mistakes.
A good manager understands how to save and invest wisely, personally and professionally. A small company with a visionary leader has enormous growth potential, but only some companies will achieve it. To summarise, strategy is value investing, a low-risk, high-return approach to business.
Some of the stocks in his active portfolio include
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| Edelweiss Financial Services Ltd. | 7.66% | Filing Due | 546.22 Cr |
| Rain Industries Ltd | 6.95% | 4.35% | 218.79 Cr |
| Sunteck Realty Ltd | 6.68% | 6.68% | 448.80 Cr |
6. Vijay Kedia
Vijay Kishanlal Kedia, also popularly known as “Market Master,” is next on our list of the biggest investors in India. Kedia forayed into the investing world at the mere age of 19 and founded Kedia Securities at the age of 33.
Investing Strategy
One of India’s leading investors, Kedia, looks for successful companies with excellent leadership. After intense market research on very competent and ethical leaders, he makes his investing decisions and then observes how their product stands out from the competition and the market.
He sticks with those companies for a decade or more before expecting any reward. He follows the SMILE strategy in his investments – he picks companies that are ‘small in scale, medium in skill, large in ambition, and extra-large in opportunity.
Some of the stocks in his active portfolio include-
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| Atul Auto Ltd. | 20.9%% | Filing Due | 343.7 Cr |
| Elecon Engineering | 1.6% | 1.5% | 170.5 Cr |
| Neuland Laboratories | 1.3% | 1.3% | 90.2 Cr |
| Om Infra Ltd | 2.6% | Filing Due | 33.3 Cr |
7. Mukul Agrawal
Mukul Agarwal, one of India’s leading investors, joined the bourses in 1990 and is a member of the Multi Commodity Exchange of India (MCX), National Stock Exchange (NSE), and Bombay Stock Exchange (BSE). In addition to his investing career, he is also a board member of Param Capital Research Pvt Ltd and Permanent Technologies Pvt. Ltd.
Investing Approach
He is a daring investor who hunts for hidden gems in the stock market. He bets on penny stocks with solid financials and the potential to multiply in value many times. He believes that a retail investor should be careful when the market is overpriced.
Some of the stocks in his active portfolio include
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| LT Foods Pvt Ltd | 1.2% | 1.2% | 81.3 Cr |
| Kingfa Science & Technology (India) Ltd. | 2.5% | 2.5% | 67.5 Cr |
| Indo Count Industries Ltd. | 1.2% | 1.2% | 65.3 Cr |
| Indian Metals & Ferro Alloys Ltd. | 1.4% | 1.4% | 37.8 Cr |
| J Kumar Infraprojects Ltd. | 2.6% | 2.6% | 117.8 Cr |
8. Sunil Singhania
Sunil Singhania, one of the top investors in India and also a Chartered Accountant, is famed for generating alpha even in distressed market conditions. In August 2018, Singhania launched his firm for managing portfolios, Abakkus Asset Management, which now manages close to Rs. 2000 crore.
Investing Approach
He does not claim to have a secret formula for picking stocks. Singhania believes that to choose the right stocks, you don’t need a precise calculation but a mix of many things.
He interestingly calls the core idea behind his stock selection MEETS, which stands for management, earnings, events, timing, and structure.
Some of the stocks in his active portfolio include
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| ADF Foods Ltd | 1.5% | 1.5% | 32.9 Cr |
| HIL Ltd | 3.2 % | 3.2% | 72.2 Cr |
| J Kumar Infraprojects Ltd | 2.7% | 2.7% | 118.1 Cr |
| TTK Healthcare Ltd | 1.1% | 1.1% | 23.1 Cr |
9. Porinju Veliyath
Porinju Veliyath, one of India’s leading investors, is an astute fund manager dubbed the Small Cap Czar by the Economic Times. He bases his fund management firm, Equity Intelligence India Pvt Ltd, on the principles of value investing.
Investing Approach
Porinju, one of the top investors in India, employs innovative investing strategies such as a contrarian mindset, thorough fundamental analysis of the companies in which he invests, and a focus on long-term value, diversification, and setting realistic goals and exit strategies.
Some of the stocks in his active portfolio include-
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| Kerala Ayurveda Ltd | 3.2% | 4.8% | 16.7 Cr |
| Aurum Proptech Ltd | 3.5 % | 4.5% | 53.6 Cr |
| PG Foils Ltd | 1% | 1.1% | 2.2 Cr |
| Centum Electronics Ltd | 1.0% | 1.0% | 18.5 Cr |
10. Ashish Kacholia
Ashish Kacholia, founder of Lucky Securities and one of the biggest investors in India, co-founded Hungama Digital with Rakesh Jhunjhunwala. Kacholia, well-known for his winning strategies, invests in small and mid-cap companies.
Investing strategies
Ashish Kacholia, one of India’s leading investors, seeks businesses with solid fundamentals, moats, and high growth potential. He follows the value investing strategy, which entails identifying companies with competitive advantages, capable leadership, and attractive prices.
| Company | Sept 23 (in %) | Dec 23 (in %) | Value (in Cr) |
| Ador Welding Ltd | 4.38% | Filing Due | 91.39 Cr |
| AMI Organics Ltd | 2.11 % | 2.11% | 87.89 Cr |
| Carysil Ltd | 3.73% | 3.73% | 83.10 Cr |
| Finotex Chemical Ltd | 2.83% | 2.83% | 103.93 Cr |
Final thoughts
India is a land of opportunity for investors, with a thriving economy, large consumer base, and diverse industries. India’s top eight biggest investors have demonstrated exceptional acumen, vision, and perseverance in accumulating wealth through sound investments.
These leading investors in India use a variety of strategies, including value investing, growth investing, contrarian investing, and arbitrage investing, to identify and capitalize on the market’s best bargains. Their portfolios have expanded to include IT, pharmaceuticals, banking, fast-moving consumer goods, and infrastructure.
India’s biggest investors are wealthy and influential, having shaped the fortunes of numerous Indian companies and industries. If you are an aspiring investor wanting to become successful, don’t imitate their investments; instead, take inspiration from their strategies and apply their principles.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.