Billionaire investor Radhakishan Damani, founder of Avenue Supermarts (DMart), has made an investment of approximately ₹90 crore in eyewear retailer Lenskart Solutions during a pre-initial public offering (IPO) funding round, according to sources familiar with the matter. This investment precedes Lenskart’s upcoming public offering, which is anticipated to open for subscriptions next week.
Lenskart aims to raise ₹2,150 crore through a fresh issuance of equity shares. Additionally, proponents and investors will offload 13.22 crore equity shares, as detailed in the Draft Red Herring Prospectus (DRHP).
As part of the Offer for Sale (OFS), promoters—including Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi—as well as investors such as 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, and Alpha Wave Ventures LP—will be divesting their shares.
Proceeds from the IPO are earmarked for strategic initiatives, including capital expenditures for establishing new Company-operated Company-owned (CoCo) stores in India, covering lease, rent, and licensing expenses related to these stores, investing in technology and cloud infrastructure, brand marketing, business promotion to increase brand visibility, potential acquisitions, and general corporate purposes.
As one of India’s leading omni-channel eyewear retailers, Lenskart offers a diverse array of affordable and stylish prescription eyeglasses, sunglasses, and contact lenses through its extensive online platform and retail network.
Founded in 2008, Lenskart began as an online eyewear platform in 2010, eventually opening its first offline store in New Delhi in 2013. Over the years, the company has developed into one of the country’s most recognized consumer brands in the eyewear sector, with a presence in metro, Tier-1, and Tier-2 cities, as well as international operations in Southeast Asia and the Middle East.
The article was published on October 24, 2025.
