Eyewear unicorn Lenskart has secured a significant pre-IPO investment of ₹90 crore from DMart founder Radhakishan Damani, marking a major development ahead of its much-anticipated Initial Public Offering (IPO). The investment, which forms part of Lenskart’s pre-IPO placement, follows the recent SEBI approval for the company’s ₹2,150 crore public issue, which includes a 13.2 crore share Offer for Sale (OFS).
The fresh funding from Damani reinforces investor confidence in Lenskart’s strong growth trajectory and robust business fundamentals. According to reports, this development comes shortly after news that the eyewear retailer was in advanced talks to raise ₹250–300 crore in its pre-IPO round from Damani and SBI Mutual Fund. While Damani’s investment has now been confirmed, the status of the SBI Mutual Fund contribution remains undisclosed. The update was first reported by PTI.
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Lenskart’s Upcoming IPO and Valuation
Sources close to the matter indicate that Lenskart may soon file its Red Herring Prospectus (RHP), with plans to list publicly by November 2025. The company is reportedly targeting a trimmed valuation of $8 billion, down from its earlier $9 billion estimate. Despite the adjusted valuation, market analysts view this as a strategic move to ensure a strong market debut amid fluctuating investor sentiment and broader market conditions.
Utilization of IPO Proceeds
The proceeds from the IPO are expected to fuel Lenskart’s next phase of expansion and innovation. The company aims to expand its retail footprint by adding over 620 new stores by FY2029, strengthening its presence across Tier-II and Tier-III cities in India. Additionally, part of the funds will be invested in cloud infrastructure, brand marketing, and smart eyewear innovations, underscoring Lenskart’s commitment to leveraging technology for personalized customer experiences.
Lenskart’s Growth and Global Presence
Founded by Peyush Bansal, Lenskart has evolved into one of India’s most successful omnichannel eyewear brands, known for its seamless integration of online and offline retail experiences. As of 2025, the company operates over 2,700 stores globally, with more than 2,000 outlets in India and a growing international presence in markets such as Singapore, the Middle East, and Southeast Asia.
Lenskart’s consistent growth can be attributed to its focus on affordability, accessibility, and technology-driven solutions—including 3D try-ons, AI-powered recommendations, and in-house manufacturing capabilities that ensure cost efficiency and quality control.
Outlook Ahead
With Radhakishan Damani’s backing and a strong operational foundation, Lenskart’s upcoming IPO is among the most awaited listings in India’s consumer retail space. The company’s focus on innovation, expansion, and brand building positions it well to sustain its leadership in the fast-evolving eyewear market.
If successful, Lenskart’s public debut could further cement its status as a global eyewear powerhouse and a benchmark for new-age Indian consumer tech companies entering the public markets.
