Radhakishan Damani Bets Big on Lenskart Ahead of IPO

Billionaire investor Radhakishan Damani has invested Rs 90 crore in Lenskart in a pre-IPO funding round. Lenskart aims to raise Rs 2,150 crore through its public offering. The company plans to use the funds for new stores, technology, and brand marketing. Lenskart operates across India and internationally.

Billionaire investor Radhakishan Damani has committed approximately Rs 90 crore to Lenskart Solutions in a significant pre-IPO funding event, sources disclosed on Friday. This move comes as Lenskart prepares for its public subscription opening next week.

The eyewear giant aims to secure Rs 2,150 crore via fresh equity shares issuance while existing promoters and investors intend to offload 13.22 crore shares, as indicated in their Draft Red Herring Prospectus (DRHP).

The funds from the IPO will support strategic initiatives, including the establishment of new CoCo stores in India, investments in technological infrastructure, brand marketing, and potential acquisitions. Lenskart, a leader in India's eyewear market since its 2008 founding, maintains a strong omni-channel presence both domestically and internationally.

(With inputs from agencies.)