Radhakishan Damani Invests ₹90 Crore in Lenskart
Radhakishan Damani, the billionaire investor and founder of DMart, has invested around ₹90 crore in eyewear brand Lenskart ahead of its much-awaited initial public offering (IPO).
According to a PTI report, the investment was made through his family office, showing Damani’s growing confidence in the startup ecosystem and India’s retail expansion story.
Lenskart, led by Peyush Bansal, continues to strengthen its position in the eyewear market, and this major backing comes as the company prepares for its IPO launch in the coming months. The move is expected to boost investor sentiment and highlight the brand’s strong growth potential.
Industry experts believe that Damani’s entry before the IPO adds credibility to Lenskart’s valuation and future business prospects.
Radhakishan Damani Invests ₹90 Crore in lenskart Before Listing
Lenskart’s upcoming IPO is expected to open next week and aims to raise ₹2,150 crore. The company plans to do this through a mix of new share issues and an offer for sale (OFS) of around 13.22 crore shares held by its promoters and early investors, according to its draft red herring prospectus (DRHP).
The eyewear brand plans to use the IPO funds to expand its business, both in India and internationally. The money will also go toward technology upgrades, marketing, and general corporate needs to strengthen its position in the market.
According to a Bloomberg report dated October 17, Lenskart is targeting a valuation of nearly $9 billion based on the IPO size. Founder Peyush Bansal’s stake could be worth about $800 million after partial share sales. If Lenskart’s stock lists with even a 25% gain on debut, Bansal’s net worth may cross $1 billion, reflecting the strong investor confidence in the company.
This comes after DMart founder Radhakishan Damani invested ₹90 crore in Lenskart before IPO, further adding to the buzz around the listing.
Lenskart Expands Global Presence as Demand for Eyewear Rises in India
India has become the myopia capital of the world, with a large number of people needing vision correction. “If we can solve that, everything else—like growth, profit, and market value—will follow,” said Peyush Bansal, founder and CEO of Lenskart, in an interview with Bloomberg News.
Founded in 2008, Lenskart started as an online eyewear platform in 2010 and opened its first physical store in 2013. Since then, it has grown rapidly to become India’s largest organised eyewear retailer. The company has also expanded into international markets, including Southeast Asia and the Middle East.
As of March 2025, Lenskart operates 2,723 stores across different countries. Impressively, around 40% of its total revenue now comes from outside India, showing the brand’s strong global growth.
This rapid expansion and strong financial performance come just as Radhakishan Damani invests ₹90 crore in Lenskart before its IPO, adding more credibility to the company’s upcoming market debut.