Know everything about new billionaire Lalit Khaitan - The man behind 8PM Whisky, Magic Moments Vodka...

Apr 08, 2024 Anita Santosh

[{"selector":"#anim-7ebbd5f7-4c11-45ce-9909-2918d20416d6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Lalit Khaitan, the visionary behind esteemed alcoholic brands such as 8PM whisky, Magic Moments Vodka, and others like Jaisalmer and Rampur, has recently ascended to the ranks of India’s billionaires at the age of 80.

[{"selector":"#anim-f9401bdf-fabd-45e4-8a73-849bafea3c14 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] According to Forbes, Lalit Khaitan, chairman of the Delhi-based Radico Khaitan, clinched his billionaire status after witnessing a remarkable surge of over 50% in the shares of his publicly traded company this year.

His substantial 40% stake in the enterprise now pegs his estimated net worth at $1 billion.

[{"selector":"#anim-a0e1737e-8d8d-404b-86ea-ed134698eeb9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

[{"selector":"#anim-b420148a-f1cd-4a2a-8ef5-e6dc0c038196 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Lalit Khaitan inherited the distillery from his father in 1995 as part of the family’s business division.

[{"selector":"#anim-f42c3e02-6b4f-4dd5-96d2-556d608229b6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] In an interview with Fortune in 2020, Lalit Khaitan revealed his lifelong passion for the liquor trade, a calling he embraced from a young age.

[{"selector":"#anim-7b653b9b-419c-41a0-abcd-e0abef371e45 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Under his stewardship, the company’s market capitalization has soared from a modest Rs 5 crore to over Rs 5,000 crore today.

[{"selector":"#anim-cec5efac-12ce-4460-958d-425d3ee28ad6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Despite being a teetotaller initially, Lalit Khaitan steered the family business into the liquor industry after his father acquired the Rampur distillery in 1972. Learn more