Radhakishan Damani Portfolio: Lenskart To Zomato — Check Out D-Mart Founder's Latest Bets
Radhakishan Damani, founder of D-Mart and a known value investor, is selectively expanding into new-age digital businesses.
Billionaire investor Radhakishan Damani, known for founding the retail chain D-Mart, has consistently displayed a value-investing philosophy that focuses on stable and non-cyclical businesses. However, his recent pre-IPO investment of around Rs 90 crore in the profitable eyewear startup Lenskart suggests a strategic expansion into India's growing new-age consumer internet space. This move builds on previous digital-economy investments and signals a potential shift towards high-growth, tech-driven retail. This investment reflects confidence in Lenskart's market dominance, strong financial performance in FY25 and omnichannel retail model.
Lenskart’s Growth In The Last 5 Years:
Over the past five years, Lenskart has seen rapid financial growth, transforming from a mid-sized startup to a dominant market leader. The eyewear startup’s revenue surged from Rs 967 crore in FY20 to over Rs 5,427 crore in FY24.
FY23 was a breakout year for the company; the consolidated operating revenue jumped over 150% year-on-year to Rs 3,788 crore from Rs 1,500 crore in FY22, according to reports. Following this, the company saw a 43% yearly growth in the consolidated revenue to over Rs 5,420 crore in FY24, according to the data on the website of Kotak Securities.
Other Pre-IPO & New Age Investments Of Radhakishan Damani
While always focused on traditional retail and avoiding cash-burning internet ventures, Damani previously made a similar move by acquiring minor stake in Eternal, the parent company of Zomato and Blinkit, in September 2025. According to media reports, Damani and his wife together hold nearly 0.5% stake in Eternal, which is worth Over Rs 1,570 crore.
Apart from the new-age internet companies, Damani has bought a significant stake in the National Stock Exchange, which became his second-largest holding by value in July 2025, ahead of the NSE's potential listing in FY26. Following a recent bonus issue, Damani now holds 3.9 crore shares in the bourse, which is approximately valued at Rs 9,770 crore.
Damani's investment in Lenskart, combined with his earlier acquisition of stakes in Zomato and Blinkit, signifies a selective, yet deliberate, expansion into the new-age digital economy. While his core portfolio remains anchored in traditional and profitable businesses like D-Mart and VST Industries, his recent moves into high-growth, tech-driven retail and financial infrastructure suggest that the seasoned value investor is strategically diversifying his shopping cart to include new-age sectors, particularly those nearing profitability and market leadership.
