Lenskart To Raise INR 300 Cr From Radhakishan Damani, SBI MF In Pre-IPO Round

IPO-bound LensKart is close to raising INR 250 Cr to INR 300 Cr in a pre-IPO round from DMart founder Radhakishan Damani and SBI Mutual Fund, sources told Inc42. 

As per its DRHP, Lenskart was looking to raise up to INR 430 Cr via a pre-IPO placement. 

Lenskart did not respond to Inc42’s queries on the development till the time of publishing the story. 

Earlier this month, the eyewear giant got SEBI’s approval for its IPO which will comprise a fresh issue of up to INR 2,150 Cr and an OFS of up to 13.2 Cr shares. 

The company’s promoters and cofounders Peyush Bansal, Neha Bansal, Amit Chaudhary, Sumeet Kapahi, and institutional investors such as SoftBank, Temasek, Kedaara Capital, Alpha Wave Ventures, among others, will offload shares through the OFS. 

The company is said to be eyeing a listing next month at a valuation of about $9 Bn (around INR 74,000 Cr)

The eyewear giant will deploy the proceeds from the fresh issue to expand its physical presence through new company-owned and operated outlets, enhance its technology infrastructure, and intensify its marketing initiatives to strengthen brand visibility and customer acquisition efforts.

Founded in 2010, Lenskart is an omnichannel eyewear brand serving customers across India, the UAE, Singapore, Spain, and Japan. While the company primarily drives sales through its website and mobile app, it also maintains a strong offline footprint with numerous company-owned and franchise outlets.

It recently made a strategic investment in Mumbai-based deeptech startup AjnaLens to develop AI-powered smart glasses. Earlier this month, Lenskart also unveiled UPI integration with its upcoming B camera smart glasses to facilitate users with digital transactions by scanning a QR code with their smart glasses. 

On the financial front, Lenskart achieved profitability in the financial year ended March 2025 (FY25). It posted a net profit of INR 297.3 Cr as against a net loss of INR 10.1 Cr in FY24. Operating revenue jumped 22.5% to INR 6,652.5 Cr during the year from INR 5,427.7 Cr in FY24.

Apart from selling sunglasses, contact lenses, lens clothes, cases, and repair tools, Lenskart also offers in-store and online eye tests, post-sale repair services, and sale of gift cards. Its eye glasses are primarily made-to-order, and produced in the company’s facilities in Bhiwadi (Rajasthan) and Gurugram (Haryana). 

It claims to have 900 stores in metro cities, 469 in tier I cities, and 698 in tier II cities across India. Besides, it operates 267 stores in Japan, 251 across Southeast Asia, 39 in the Middle East, and 99 in other regions like Taiwan, Hong Kong, and Australia.