Lenskart IPO Update: SBI Mutual Fund Puts ₹100 Crore Bet Ahead of ₹7,278-Crore Listing
- 29th October 2025
- 01:30 PM
- 4 min read
Summary
Lenskart promoter Neha Bansal sold 24.87 lakh shares worth ₹100 crore to SBI Mutual Fund’s Optimal Equity Fund and Emergent Fund at ₹402 per share in a pre-IPO deal. The stake sale, announced on Wednesday, comes just days before Lenskart’s ₹7,278-crore IPO, which opens for subscription on October 31, 2025.Mumbai | October 29
The eyewear unicorn is drawing big names ahead of its market debut. SBI Mutual Fund has invested ₹100 crore in Lenskart Solutions Ltd in a pre-IPO deal, days before the company opens its ₹7,278-crore initial public offering (IPO) for public subscription. The fresh investment adds to the buzz around the upcoming Lenskart IPO, which opens on October 31 and closes on November 2, 2025.
SBI Mutual Fund Buys Shares at ₹402 Each
According to a regulatory filing, SBI Mutual Fund acquired 24.87 lakh shares at ₹402 per share — the upper end of the Lenskart IPO price band. The shares were sold by Neha Bansal, one of the company’s promoters. After the transaction, her stake fell slightly to 7.46% from 7.61% earlier. The deal was split between SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF) — both investing at the same transfer price. Importantly, this share sale is not part of the IPO’s Offer for Sale (OFS).
Radhakishan Damani Invested ₹90 Crore Last Week
This latest investment comes close on the heels of DMart founder Radhakishan Damani’s ₹90 crore pre-IPO investment in the company last week. Damani picked up over 22 lakh shares from Neha Bansal in a separate off-market deal — reinforcing growing investor confidence in the Lenskart IPO. With back-to-back pre-IPO investments from marquee names, Lenskart is attracting strong institutional and HNI interest ahead of its listing.
Lenskart IPO: Price Band, Issue Size and Listing Date
- IPO Size: ₹7,278 crore
- Price Band: ₹382–₹402 per share
- Fresh Issue: ₹2,150 crore
- Offer for Sale: 12.75 crore shares
- IPO Opening Date: October 31, 2025
- IPO Closing Date: November 2, 2025
- Expected Listing Date: November 10, 2025 (BSE & NSE)
At the upper price band, Lenskart’s valuation stands at over ₹69,700 crore, making it one of India’s largest consumer internet IPOs of the year.
Who’s Selling Shares in the Offer for Sale
The Offer for Sale (OFS) includes shares from both promoters and early investors. Promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with investors SoftBank Vision Fund (SVF II Lightbulb Cayman), Kedaara Capital, Schroders Capital, and PI Opportunities Fund-II, will dilute part of their stakes.
How Lenskart Plans to Use IPO Proceeds
- Setting up new company-owned, company-operated (CoCo) stores across India
- Lease and rental payments for retail expansion
- Technology and cloud infrastructure investments
- Brand marketing and promotions to boost visibility
- Inorganic acquisitions and general corporate purposes
The company aims to deepen its offline presence while strengthening its online platform, staying true to its omni-channel retail model.
About Lenskart
Founded in 2008, Lenskart began as an online eyewear startup and evolved into one of India’s largest omni-channel eyewear retailers, offering prescription glasses, sunglasses, and contact lenses. It operates through a mix of digital platforms and physical stores, serving millions of customers across India and international markets.
Investor Buzz Around Lenskart IPO
The twin pre-IPO investments by SBI Mutual Fund and Radhakishan Damani have set the stage for strong investor interest. With a solid brand recall, consistent revenue growth, and a large retail footprint, the Lenskart IPO is expected to be one of the most watched listings in 2025. However, market experts note that being a consumer-tech business, valuations will be key, especially in a competitive segment with rising input costs and brand marketing expenses.
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