Radhakishan Damani invests ₹90 cr in Lenskart ahead of public offer

BILLIONAIRE investor and the founder of Avenue Supermarts (DMart) Radhakishan Damanihas invested around Rs 90 crore in eyewear retailer Lenskart Solutions in a pre-IPO (initial public offering) funding round, according to sources aware of the development.

- ENS ECONOMIC BUREAU @New Delhi

The investment comes ahead of Lenskart’s much-awaited IPO which is expected to open for public subscription next week. The eyewear brand is looking to raise 2,150 crore through fresh issuance of equity shares; besides, promoters and investors would offload 13.22 crore equity shares, according to the Draft Red Herring Prospectus (DRHP). As a part of the OFS, promoters Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi; and investors SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fu