Lalit Khaitan is India’s newest billionaire

Lalit Khaitan, Chairman of India’s alcobev company Radico Khaitan, has joined India’s billionaire club with a net worth of $1.1 billion, driven by a 50 percent surge in the company’s shares. Radico Khaitan, a leading alcobev company with a $380 million revenue, evolved from a small liquor business inherited by Lalit in 1995.

The company, initially a bottler, expanded into branded spirits in 1997 with the involvement of Lalit’s son, Abhishek Khaitan. The family’s journey began in the 1970s when Lalit’s father acquired the Rampur Distillery and Chemical Company, leading to the current success of Radico Khaitan. Abhishek, a trained industrial engineer, now heads the company.

Radico Khaitan, best known for producing alcoholic beverages like Magic Moments vodka, 8 PM whiskey, Old Admiral brandy and Rampur single malt.