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DMart's Radhakishan Damani invests Rs 90 crore in Lenskart ahead of IPO

Economic Times

Economic Times · 21d ago

DMart's Radhakishan Damani invests Rs 90 crore in Lenskart ahead of IPO

Billionaire investor Radhakishan Damani, founder of Avenue Supermarts, has invested Rs 90 crore in Lenskart Solutions ahead of its initial public offering (IPO) intended to raise Rs 2,150 crore. Lenskart, an eyewear retailer, plans to use the funds for capital expenditure on new stores, technology, marketing, and potential acquisitions. The IPO includes promoters and investors offloading 13.22 crore shares. Lenskart operates across major Indian cities and internationally in Southeast Asia and the Middle East.

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SBI Mutual Fund buys Rs 100-crore worth Lenskart stake at $7.7 billion valuation - The Economic Times

Economic Times

Economic Times · 16d ago

SBI Mutual Fund buys Rs 100-crore worth Lenskart stake at $7.7 billion valuation - The Economic Times

SBI Mutual Fund has invested Rs 100 crore in Lenskart, acquiring shares from co-founder Neha Bansal. This transaction values the eyewear retailer at Rs 67,762 crore (around $7.7 billion). Lenskart is set to launch its IPO on November 10, with an expected valuation of Rs 70,000 crore ($8 billion) post-offering. Bansal had previously sold a stake to Dmart's Radhakishan Damani.

DMart founder Radhakishan Damani, SBI MF to invest Rs 100 crore each in Lenskart ahead of IPO: Report

IndianStartupNews

IndianStartupNews · 26d ago

DMart founder Radhakishan Damani, SBI MF to invest Rs 100 crore each in Lenskart ahead of IPO: Report

DMart founder Radhakishan Damani and SBI Mutual Fund are set to invest Rs 100 crore each in Lenskart ahead of its IPO. These investments will occur through a secondary share purchase. Lenskart's IPO, cleared by SEBI, includes a Rs 2,150 crore fresh issue and an offer for sale of 13.2 crore shares. This move highlights growing investor interest in Lenskart, a profitable internet-led consumer business, which plans to expand and enhance its offerings with the proceeds.

Avenue Supermarts raises Rs 100 cr short term debt; opens new store in Delhi

Economic Times

Economic Times · 1m ago

Avenue Supermarts raises Rs 100 cr short term debt; opens new store in Delhi

Avenue Supermarts Ltd, the operator of D-Mart retail stores, has raised Rs 100 crore via commercial paper, listed on BSE at a 6% coupon rate maturing on December 29, 2025. The company, backed by Radhakishan Damani, announced the opening of a new store in New Delhi at Epicah Mall & Business Centre, Moti Nagar. This addition brings the total number of D-Mart stores across India to 431.

Who are India's top 10 self-made entrepreneurs according to Hurun?

Money Control

Money Control · 1y ago

Who are India's top 10 self-made entrepreneurs according to Hurun?

DMart Founder Radhakishan Damani topped Hurun's list of India's top 200 self-made entrepreneurs of the millennia 2023 with his company's market capitalisation of ₹2.38 lakh-crore. He's followed by Flipkart founders Sachin & Binny Bansal, and Zomato Founder Deepinder Goyal. Dream11 founders Harsh Jain & Bhavit Sheth, and Swiggy founders tied for 4th spot with their equities valued at ₹66,542 crore.

ETtech explainer: Decoding Lenskart’s draft prospectus for Rs 8,000 crore IPO - The Economic Times

Economic Times

Economic Times · 3m ago

ETtech explainer: Decoding Lenskart’s draft prospectus for Rs 8,000 crore IPO - The Economic Times

Lenskart, an omnichannel eyewear retailer, is set for a significant IPO, with a draft red herring prospectus (DRHP) filed to raise Rs 2,150 crore. The IPO, including a fresh issue and offer-for-sale from investors like SoftBank, aims for a Rs 7,500-8,000 crore valuation. Lenskart intends to utilize funds for store expansion, technology enhancement, and marketing. Profitable in FY25, the company reported a Rs 297 crore net profit, with significant revenue from international markets.

Lenskart gets Sebi nod for Rs 8,000-crore IPO, aims for November listing: sources - The Economic Times

Economic Times

Economic Times · 1m ago

Lenskart gets Sebi nod for Rs 8,000-crore IPO, aims for November listing: sources - The Economic Times

Lenskart, an eyewear retailer, has gained SEBI approval for an IPO, aiming for a mid-November listing. The company seeks to raise Rs 2,150 crore in fresh capital, with the IPO totaling Rs 7,500-8,000 crore. Profitable since fiscal 2025, Lenskart plans to use the funds for store expansion and acquisitions. Shareholders like Peyush Bansal and SoftBank are selling shares via the offer-for-sale component, making it one of the year's largest offerings.

Radhakishan Damani opposes BAT nominee for Chair of VST Industries

Livemint

Livemint · 10m ago

Radhakishan Damani opposes BAT nominee for Chair of VST Industries

Radhakishan Damani, the billionaire investor and D-Mart promoter, has opposed the proposed candidate for chairmanship by British American Tobacco (BAT) for its Indian unit VST Industries Ltd. Damani, who owns nearly a third of India's third largest cigarette maker, opposed the appointment of BAT's executive Naresh Kumar Sethi as the executive chairman. As a result of his opposition and the opposition from other shareholders, Sethi's appointment failed to pass. Damani's opposition indicates his concerns about VST's growth strategy and lack of transparency in the board's decision-making process.

Lenskart to launch IPO on October 31; files RHP - The Economic Times

Economic Times

Economic Times · 20d ago

Lenskart to launch IPO on October 31; files RHP - The Economic Times

Lenskart has filed its red herring prospectus for an initial public offering (IPO) set to launch on October 31 and close on November 4. The IPO aims to raise Rs 2,150 crore, with shareholders selling 127.5 million shares through an offer-for-sale. Lenskart plans to list its shares on exchanges by November 10. The company reported a Rs 61 crore net profit for the April-June quarter, compared to a Rs 11 crore loss previously.

Lenskart IPO lapped up on Day 1 despite valuation concerns - The Economic Times

Economic Times

Economic Times · 14d ago

Lenskart IPO lapped up on Day 1 despite valuation concerns - The Economic Times

Lenskart's IPO was fully subscribed on its opening day, with strong interest from institutional and retail investors despite valuation concerns. Institutional demand led, being subscribed 1.42 times. The IPO closed with a 1.12 times subscription rate. Lenskart aimed for a valuation of Rs 70,000 crore, considered steep by some. The company raised Rs 3,268.3 crore from anchor investors before the IPO, which aims to raise Rs 7,278.02 crore in total.

Lenskart, Wakefit get Sebi clearance for public issues - The Economic Times

Economic Times

Economic Times · 1m ago

Lenskart, Wakefit get Sebi clearance for public issues - The Economic Times

Lenskart and Wakefit have received approval from India's market regulator, SEBI, for their initial public offerings (IPOs). Lenskart aims to raise Rs 2,150 crore in fresh capital, planning for a listing in mid-November, with its IPO estimated at Rs 7,000-8,000 crore. Wakefit seeks Rs 468 crore through its fresh issue portion, with an offer-for-sale component, where significant shareholders like Peak XV Partners and Verlinvest will sell shares. Both companies are on track for public issue launches.

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