Ahead of IPO DMart’s Radhakishan Damani Invests ₹90 Crore in Lenskart

Radhakishan Damani, billionaire investor and founder of Avenue Supermarts (DMart), has invested ₹90 crore in Lenskart. This pre-IPO funding comes as the eyewear brand prepares for a major listing to raise ₹2,150 crore through fresh equity issuance and an offer for sale.

Damani's Investment Boosts Lenskart’s IPO Momentum

On October 24, 2025, sources confirmed that Damani participated in Lenskart’s pre-IPO funding round with an investment of ₹90 crore. This aligns with Lenskart's upcoming initial public offering, for which it plans to issue fresh shares worth ₹2,150 crore. An additional 13.22 crore equity shares will be offloaded by promoters and investors as part of the offer for sale (OFS).

Promoters and Investors to Offload Significant Stake

As per the Draft Red Herring Prospectus, major stakeholders such as Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will reduce their holdings. Existing institutional investors like SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, and Alpha Wave Ventures LP also plan to exit partially.

Strategic Use of IPO Proceeds Planned

Lenskart intends to deploy the funds raised strategically. Major allocations will go toward capital expenditure for new Company-operated Company-owned (CoCo) stores across India, rentals, and technology upgrades. Additional funds will support cloud infrastructure, aggressive brand marketing, and potential mergers or acquisitions.

Read More: Lenskart To Raise ₹300 Crore in Pre-IPO Funding from Radhakishan Damani and SBI Mutual Fund!

Growth Trajectory and Market Presence

Founded in 2008, Lenskart initially operated as an online platform and opened its first store in 2013. Now, it stands as one of India's largest omni-channel eyewear retailers. With presence in metros, Tier-1, and Tier-2 cities, it also operates in Southeast Asia and the Middle East, catering to varied international consumer segments.

Conclusion

Radhakishan Damani’s ₹90 crore investment is expected to fuel investor interest further as Lenskart gears up for its IPO. The company aims to strengthen its omni-channel presence while expanding both domestically and globally through its fresh capital raise.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities are subject to market risks. Read all related documents carefully before investing.