D-Mart Billionaire Bets Big on Lenskart and Zomato Find Out Why
Radhakishan Damani invests ₹90 crore in eyewear giant, expands into digital consumer space.
Billionaire investor and D-Mart founder Radhakrishnan Damani has made a strategic pre-IPO investment of approximately ₹90 crore in Lenskart, signaling a calculated entry into India’s fast-growing new-age consumer internet sector. Known for his disciplined value-investing approach and preference for stable, non-cyclical businesses, Damani’s move reflects growing confidence in Lenskart’s market leadership, profitability, and omnichannel retail model.
Lenskart has witnessed explosive growth over the past five years, with revenue surging from ₹967 crore in FY20 to over ₹5,427 crore in FY24. The company recorded a 150% year-on-year revenue jump to ₹3,788 crore in FY23, followed by a 43% increase to ₹5,420 crore in FY24, according to Kotak Securities data. This financial momentum, combined with its dominant position in the eyewear market, likely attracted Damani’s attention.
This is not Damani’s first foray into digital businesses. In September 2025, he and his wife acquired a nearly 0.5% stake in Eternal, the parent company of Zomato and Blinkit, valued at over ₹1,570 crore. The investment underscores his selective interest in profitable, consumer-facing tech platforms with strong growth trajectories.
Also Read: Pakistan’s ‘Shadow Coup’: Army Chief Munir Centralizes Authority Without Toppling Democracy
Beyond digital ventures, Damani significantly increased his stake in the National Stock Exchange (NSE), which became his second-largest holding by value in July 2025. Following a recent bonus issue, he now owns 3.9 crore shares, valued at approximately ₹9,770 crore, positioning him favorably ahead of NSE’s anticipated listing in FY26.
Damani’s evolving portfolio—blending traditional retail strength with high-potential digital and financial infrastructure plays—highlights a strategic diversification while maintaining his hallmark focus on long-term value and operational resilience.
Also Read: Madagascar’s Ousted Leader Andry Rajoelina Stripped of Citizenship After Military Takeover
