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DMart's Radhakishan Damani invests Rs 90 crore in Lenskart ahead of IPO
Economic Times
·
1d ago
Medial
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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DMart founder Radhakishan Damani, SBI MF to invest Rs 100 crore each in Lenskart ahead of IPO: Report
IndianStartupNews
·
5d ago
Medial
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.
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Avenue Supermarts raises Rs 100 cr short term debt; opens new store in Delhi
Economic Times
·
26d ago
Medial
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.
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Who are India's top 10 self-made entrepreneurs according to Hurun?
Money Control
·
1y ago
Medial
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.
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ETtech explainer: Decoding Lenskart’s draft prospectus for Rs 8,000 crore IPO - The Economic Times
Economic Times
·
2m ago
Medial
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.
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Lenskart gets Sebi nod for Rs 8,000-crore IPO, aims for November listing: sources - The Economic Times
Economic Times
·
21d ago
Medial
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.
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Radhakishan Damani opposes BAT nominee for Chair of VST Industries
Livemint
·
10m ago
Medial
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.
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Lenskart, Wakefit get Sebi clearance for public issues - The Economic Times
Economic Times
·
19d ago
Medial
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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Lenskart files DRHP with SEBI to launch IPO; Peyush and Neha Bansal to sell shares
IndianStartupNews
·
2m ago
Medial
Lenskart, an omnichannel eyewear retailer based in Gurugram, has filed for an Initial Public Offering (IPO) with SEBI to raise Rs 2,150 crore. The IPO includes a fresh issue of shares and an offer for sale where existing shareholders, including SoftBank and company CEO Peyush Bansal, will sell shares. The funds will support retail expansion, tech infrastructure upgrades, and branding efforts. Lenskart reported significant revenue growth and profitability in FY25.
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Nephro Care makes a stellar debut on NSE SME, lists at 90% premium against issue price
Money Control
·
1y ago
Medial
Shares of Nephro Care India made a strong debut on the NSE SME, listing at Rs 171 per share with a premium of 90% over the issue price of Rs 90. This is the first SME IPO to make a debut after NSE imposed a 90% cap on SME stocks. The IPO garnered bids worth over Rs 20,000 crore, which is the highest ever for a SME IPO. The company plans to use the proceeds for setting up a multi-specialty hospital and for general corporate expenses.
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Exclusive: Lenskart sets stage for IPO with public entity conversion
Entrackr
·
4m ago
Medial
Exclusive: Lenskart sets stage for IPO with public entity conversion Lenskart's board has passed a special resolution to change its parent company’s name from Lenskart Solutions Private Limited to Lenskart Solutions Limited, according to the company's filings. It looks like omnichannel eyewear retailer Lenskart’s draft red herring prospectus (DRHP) is around the corner, as the company has converted from a private to a public entity following board approval. Media reports suggest that Lenskart aims to raise $1 billion via a mix of primary and secondary capital, targeting a valuation of $10 billion in its Initial Public Offering (IPO). In June 2024, Lenskart secured $200 million through a secondary funding round, followed by a $20 million investment that included participation from founder Peyush Bansal. Over the past 18 months, the company has raised nearly $1 billion and was valued at $5 billion during the secondary deal. Recently, early investor Fidelity marked up Lenskart’s valuation to $5.6 billion. As of last year, Lenskart operated more than 2,500 stores worldwide, with about 2,000 in India. The company earned 42% of its revenue from international markets during FY24. Japan, Singapore, Taiwan (province of China), and Thailand are among its overseas markets. Lenskart’s revenue from operations rose by 43% to Rs 5,427.7 crore in FY24 from Rs 3,788 crore in FY23. During the period, the company reduced its losses by 84% to Rs 10 crore in FY24 from Rs 63 crore in FY23. The company’s FY25 result has yet to be reported.
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