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

IndianStartupNews

IndianStartupNews · 20d 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.

Related News

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

Economic Times

Economic Times · 11d 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's Radhakishan Damani invests Rs 90 crore in Lenskart ahead of IPO

Economic Times

Economic Times · 16d 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.

Dmart most-valuable India co founded by self-made entrepreneur post-2000; Zomato, Swiggy next: Hurun

Livemint

Livemint · 10m ago

Dmart most-valuable India co founded by self-made entrepreneur post-2000; Zomato, Swiggy next: Hurun

Radhakishan Damani-promoted supermarket chain Dmart has become the most valuable Indian company founded by a self-made entrepreneur since 2000, with a valuation of ₹3.42 lakh crore ($46 billion). This data was released by Hurun India, with Dmart owner Avenue Supermarket's value rising by 44% this year. Zomato, founded by Deepinder Goyal, saw a 190% jump in valuation to take the second rank, while Swiggy, founded by Sriharsha Majety and Nandan Reddy, came in third. The report also highlights a 10% reduction in the direct tax outgo for top self-made entrepreneurs, and the prominence of Bengaluru as a location for these companies.

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.

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.

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

Inshorts · 9m ago

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

Lenskart is said to be hiring arrangers like Kotak Mahindra Bank and Morgan Stanley for its $1 billion IPO this year, according to a Bloomberg report. The SoftBank-backed eyewear firm may seek a valuation of about $8 billion and other banks may also join to work on the IPO, the report added. Lenskart reported ₹5,427 crore revenue in FY24.

Fidelity, Nomura line up bids for Ola Electric's IPO

Economic Times

Economic Times · 1y ago

Fidelity, Nomura line up bids for Ola Electric's IPO

Ola Electric's upcoming IPO is expected to attract bids from investors including Fidelity, Nomura, and Norges Bank, along with Indian mutual funds SBI, HDFC, UTI, and Nippon India. Fidelity is likely to bid around $75 million, while Nomura and Norges will each place bids of $100 million in the IPO anchor book. The IPO will raise $660 million through the issuance of new shares, with existing investors, including founder Bhavish Aggarwal, also selling their stake of about $80 million. The final valuation for the IPO is estimated to be around $4 billion to $4.2 billion.

Northern Arc Capital raises Rs 229 Cr from anchor investors pre-IPO

YourStory

YourStory · 1y ago

Northern Arc Capital raises Rs 229 Cr from anchor investors pre-IPO

Non-bank financial institution Northern Arc Capital has raised Rs 229 crore ($31 million) from anchor investors ahead of its upcoming initial public offering (IPO). The funds were collected by issuing over 87 lakh equity shares at Rs 263 each to anchor investors including SBI General Insurance, Kotak Mahindra Life Insurance, and Goldman Sachs. Northern Arc Capital's IPO, which consists of a fresh issue of equity shares worth Rs 500 crore and an offer for sale of up to Rs 277 crore, is set to open for public subscription on September 16.

Investors rush to find anchor in Ola Electric IPO; local, foreign cos sign up for likely $350m book

Economic Times

Economic Times · 1y ago

Investors rush to find anchor in Ola Electric IPO; local, foreign cos sign up for likely $350m book

The upcoming IPO of Ola Electric Mobility has attracted interest from both domestic and international investors, as the company's valuation approaches $4 billion. The IPO is set to open on August 2, with anchor investors such as SBI AMC, HDFC AMC, and international institutions like Fidelity and Nomura bidding around $200-100 million each. This IPO marks the first fundraising initiative by an automaker in over 20 years. Ola Electric's CEO, Bhavish Aggarwal, will participate in the offer for sale, reducing his stake in the company. The anchor book is expected to open on August 1, with listing anticipated on August 9.

11 startups join unicorn club in 2025; Bengaluru remains biggest hub in India: Hurun report - The Economic Times

Economic Times

Economic Times · 1m ago

11 startups join unicorn club in 2025; Bengaluru remains biggest hub in India: Hurun report - The Economic Times

In 2025, eleven startups in India achieved unicorn status, increasing the total to 73, according to the ASK Private Wealth Hurun India Unicorn and Future Unicorn Report. Notable unicorns include Zerodha, valued at $8.2 billion, Razorpay, and Lenskart, each at $7.5 billion. Bengaluru remains the leading hub, hosting 26 unicorns valued at $70 billion. The report highlights growing diversity and fintech dominance in the Indian startup landscape.

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