🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

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

IndianStartupNews

IndianStartupNews · 5h 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

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 · 20d 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 · 8m 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.

Lenskart founder to buy back 2% from bunch of investors at $7 billion valuation

Internet

Internet · 3m ago

Lenskart founder to buy back 2% from bunch of investors at $7 billion valuation

Lenskart founder Peyush Bansal plans to buy back a 1.5-2% stake from investors like TR Capital, Chiratae, Softbank, and Kedaara Capital for approximately $150 million. This move comes as the company prepares for an IPO, targeting a valuation of $8-10 billion. By increasing his stake with the help of Avendus Capital, Bansal aims to counteract his equity dilution from previous funding rounds. The transaction signals strategic planning ahead of the IPO.

Nazara raising $108 Mn led by SBI MF; market cap reaches $1 Bn

Entrackr

Entrackr · 1y ago

Nazara raising $108 Mn led by SBI MF; market cap reaches $1 Bn

Gaming firm Nazara is raising Rs 900 crore (approximately $108 million) in a funding round led by SBI Mutual Fund, with participation from Juno Moneta Finsol, Think India Opportunities Fund, Discovery Global, and others. Nazara’s board has approved a resolution to issue 94,31,294 equity shares at an issue price of Rs 954.27 each, raising Rs 900 crore ($108 million), according to its disclosure filed with the National Stock Exchange (NSE). SBI Mutual Fund led the round with Rs 220 crore while Juno Moneta Finsol and Think India Opportunities Fund contributed Rs 150 crore each. Caratlane co-founders Siddharth and Mithun Sacheti also participated with Rs 155 crore. The remaining funds came from Discovery Global, Cohesion MK, Chartered Finance, Ratnabali Investment, Meenakshi Mercantiles, and Aamara Capital. The preferential allotment is subject to shareholder approval, with the meeting scheduled for October 12, according to the filing. In a separate strategic move, Nazara has acquired an additional 19.35% stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.47 crore. Of this amount, Rs 72.73 crore will be paid in cash, while the rest will be through a share swap of Nazara’s shares. After this transaction, Nazara will hold a 91.03% stake in Absolute Sports. In the past few months, Absolute Sports acquired assets of SoapCentral.com and DeltiasGaming. The company reached its 52-week high today at Rs 1,098 and ended the day trading at Rs 1,095. According to Entrackr‘s estimates, Nazara’s overall market capitalization stands at Rs 8,381 crore as of September 18.

Download the medial app to read full posts, comements and news.