Why Radhakishan Damani Betting Big on Lenskart IPO?

Eyewear major Lenskart is gearing up for its much-awaited ₹2,150 crore IPO, gaining strong momentum after billionaire investor Radhakishan Damani — founder of DMart — invested ₹90 crore in the company just days before the issue. This move has strengthened investor confidence and further validated Lenskart’s business model.

Damani’s entry adds weight to an already robust list of marquee investors including SoftBank, Temasek, Kedaara Capital, and Alpha Wave Ventures. The public offer comprises a fresh issue and an offer-for-sale (OFS) of 13.22 crore shares by promoters Peyush Bansal, Neha Bansal, and Amit Chaudhary. The funds will be utilised for expanding retail stores, enhancing technology, and brand promotions to bolster Lenskart’s global growth plans.

Dominating India’s organised eyewear market, Lenskart operates over 2,500 stores across India, the Middle East, and Southeast Asia. Its focus on affordability, technology, and efficient supply chain management has helped it outperform rivals such as Titan Eye+.

Financially, Lenskart has turned the corner, posting a profit of ₹297 crore in FY25 compared to a ₹10 crore loss in FY24, with revenues soaring 22% YoY to ₹6,625 crore. With the market trading near record highs and renewed investor interest in profitable consumer-tech names, Lenskart’s IPO arrives at an ideal time for a promising debut.