Damani Invests Rs 90 Crore in Lenskart: Imagine an ace investor known for building India’s most disciplined retail empire placing a Rs 90 crore bet on an eyewear startup just days before its public debut. That’s exactly what Radhakishan Damani—the billionaire founder of DMart—did with Lenskart, signaling a vote of confidence that’s turning heads across Dalal Street. With the Lenskart IPO opening October 31 and a target valuation of Rs 70,000 crore, this pre-IPO investment isn’t just about numbers—it’s about recognizing a paradigm shift in India’s consumer-tech landscape.
Damani invests Rs 90 crore in Lenskart Ahead of Blockbuster IPO
Radhakishan Damani acquired shares at Rs 402 per piece through a secondary transaction from Lenskart co-founder Neha Bansal, a price that marks the upper end of the IPO price band (Rs 382–402). This Rs 90 crore investment values Lenskart at approximately Rs 67,762 crore ($7.7 billion)—a whopping 50% premium to its June 2024 valuation of $5 billion when Fidelity and Temasek invested. For Damani, this marks his second major bet on a new-age company after acquiring a 0.5% stake in Zomato’s parent entity Eternal last month.
Lenskart IPO: India’s Fourth-Largest Offering in 2025
The eyewear retailer is gearing up for a landmark IPO opening October 31 and closing November 4, with anchor investor bidding scheduled for October 30. Lenskart plans to raise Rs 2,150 crore through fresh equity issuance, while promoters and investors will offload 12.75 crore shares via offer-for-sale, bringing the total issue size to approximately Rs 7,278 crore. Once listed on November 10, this will become India’s fourth-largest IPO in 2025, trailing only Tata Capital, HDB Financial Services, and LG Electronics.
The company will deploy IPO proceeds strategically: Rs 272.6 crore for setting up new company-owned stores, Rs 591.4 crore for lease and rental agreements, Rs 213.4 crore for technology and cloud infrastructure, and Rs 320 crore for brand marketing and business promotion.
Financial Performance Reflects Strong Growth Momentum
Lenskart’s fundamentals justify the optimism. In Q1 FY26, the company posted a net profit of Rs 61 crore—a dramatic turnaround from a Rs 11 crore loss in the year-ago period. Operating revenue surged 25% year-on-year to Rs 1,894 crore from Rs 1,520 crore, driven by aggressive store expansion and international growth. The company now operates 2,723 stores across metro, Tier-1, and Tier-2 cities in India, with growing international presence in Southeast Asia and the Middle East.
Key IPO Metrics at a Glance
| Metric | Value | Significance for Investors |
|---|---|---|
| IPO Dates | Oct 31 – Nov 4, 2025 | Listing expected Nov 10 |
| Fresh Issue | Rs 2,150 crore | Growth capital for expansion |
| Target Valuation | Rs 70,000 crore (~$8 billion) | 4th largest IPO of 2025 |
| Price Band | Rs 382-402 per share | Damani invested at upper band |
| Q1 FY26 Profit | Rs 61 crore (vs Rs 11 Cr loss YoY) | Strong turnaround story |
| Revenue Growth | 25% YoY to Rs 1,894 crore | Sustained momentum |
What Damani’s Bet Reveals About Retail’s Future
When India’s most astute value investor backs an omni-channel eyewear platform, it validates a thesis: the future of retail is phygital. Founded in 2008 by Peyush Bansal, Lenskart evolved from an online platform (2010) to opening its first physical store in New Delhi (2013), eventually becoming one of India’s largest eyewear retailers offering prescription glasses, sunglasses, and contact lenses. Early investors like SoftBank, Temasek, Kedaara Capital, and Alpha Wave Ventures are eyeing potential returns ranging from 5X to 17X on their initial investments.
Final Thoughts: Opportunity Through a New Lens
Damani’s Rs 90 crore pre-IPO investment at a premium valuation isn’t just about backing a brand—it’s about recognizing India’s $8 billion consumer-tech opportunity in a category with massive untapped potential. For retail investors, the Lenskart IPO represents a chance to participate in a profitable, rapidly scaling omni-channel model backed by marquee global investors. As subscription opens October 31, this is your moment to view wealth creation through a sharper lens and build a portfolio aligned with India’s consumption growth story.
Disclaimer: This article is for informational purposes only. Market conditions and IPO outcomes may vary. Always consult a registered financial advisor or conduct thorough due diligence before investing in any IPO. May include affiliate links at no extra cost to you.
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