Radhakishan Damani Invests ₹90 Crore In Lenskart Ahead of IPO

New Delhi, October 24: Billionaire investor and Avenue Supermarts (DMart) founder Radhakishan Damani has invested approximately ₹90 crore in eyewear retailer Lenskart Solutions Ltd as part of a pre-IPO funding round, according to people familiar with the development.

The investment precedes Lenskart’s much-anticipated initial public offering (IPO), which is expected to open for public subscription next week.

Lenskart IPO Details

According to the Draft Red Herring Prospectus (DRHP), Lenskart intends to issue 2,150 crore equity shares in a fresh issue and to offer 13.22 crore equity shares to be provided by existing promoters and investors through an offer through sale (OFS).

The main promoters like Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, investors like SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund -II, Macritchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, Alpha Wave Ventures LP, will divest some of their shares under the OFS.

IPO Proceeds Utilization

The firm will use IPO proceeds to implement several growth and expansion projects. These include:

• New Company-owned (CoCo) stores in the Indian capital for expenditure.
• Lease, rent and licensing payments of CoCo stores.
• Systems improvement and cloud infrastructure.
• Marketing and advertising to enhance brand market share.
• Seeking strategic acquisitions.
• General corporate purposes

Lenskart’s upcoming IPO, bolstered by Radhakishan Damani’s ₹90 crore pre-IPO investment, signals strong investor confidence. With plans for store expansion, technology upgrades, and strategic acquisitions, the company is well-positioned for growth in India and internationally.

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