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

Lenskart, the eyewear retailer, is set to raise around ₹250-₹300 crore in a pre-IPO round from DMart founder Radhakishan Damani and SBI Mutual Fund, according to the news reports. The investment will be made through a secondary share purchase, ahead of the company’s upcoming Initial Public Offering (IPO).

IPO Structure and Participants

Lenskart has received SEBI approval for its IPO, which includes a fresh issue of ₹2,150 crore and an offer for sale (OFS) of about 13.2 crore shares by existing shareholders. Founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with institutional investors like SoftBank, Temasek, Kedaara Capital, and Alpha Wave Ventures, are expected to sell shares through the OFS.

Use of Proceeds

Funds raised from the fresh issue will go toward opening new company-owned outlets, upgrading technology systems, and increasing marketing activities to improve customer reach. The company’s DRHP states it was looking to raise up to ₹430 crore through pre-IPO placements.

Lenskart Financial Performance

Lenskart reported a net profit of ₹297.3 crore in FY25, compared to a loss of ₹10.1 crore in FY24. Its operating revenue rose 22.5% year-on-year to ₹6,652.5 crore, while gross margins improved by about 500 basis points to 69%. The improvement is attributed to better operational efficiency and scale across its supply chain.

Global Presence and Operations

Founded in 2010, Lenskart runs an omnichannel model with both online and offline operations. It has over 2,000 stores in India and about 650 outlets abroad, mainly in Southeast Asia, Japan, and the Middle East. The company manufactures eyewear at its Bhiwadi and Gurugram facilities.

Read More:Lenskart Secures SEBI Nod for IPO; Plans Mid-November Listing!

Conclusion

The funding from Damani and SBI Mutual Fund adds to Lenskart’s pre-IPO momentum as it prepares for a public listing in the coming months.

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