SBI Mutual Fund invests Rs 100 crore in Lenskart pre-IPO; promoter Neha Bansal trims stake
The pre-IPO funding round has seen notable investor activity, including last week's participation by billionaire investor Radhakishan Damani, founder of Avenue Supermarts. Damani invested around Rs 90 crore in eyewear retailer Lenskart through a pre-IPO transaction, according to people familiar with the development.
- Oct 29, 2025,
- Updated Oct 29, 2025 2:38 PM IST
SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF) -- managed by SBI Mutual Fund -- have invested Rs 100 crore in Lenskart Solutions Limited through a pre-IPO transaction at a transfer price of Rs 402 per equity share. This investment precedes Lenskart's initial public offering (IPO), scheduled to open on Friday, October 31, 2025.
As part of this transaction, Neha Bansal, a promoter previously holding 7.61 per cent of the pre-offer paid-up equity share capital on a fully diluted basis, transferred 2,487,561 equity shares and now retains a 7.46 per cent stake. The share sale is not part of the IPO offer for sale (OFS).
The pre-IPO funding round has seen notable investor activity, including last week's participation by billionaire investor Radhakishan Damani, founder of Avenue Supermarts. Damani invested around Rs 90 crore in eyewear retailer Lenskart through a pre-IPO transaction, according to people familiar with the development.
Existing institutional investors in Lenskart include Alpha Wave Ventures LP, Bay Capital Holdings Ltd, Chiratae Trust, IDG Ventures India Fund III LLC, Kariba Holdings IV Mauritius, Kedaara Capital Fund II LLP, Kedaara Norfolk Holdings Limited and MacRitchie Investments Pte Ltd.
Lenskart intends to utilise the net proceeds from the IPO to establish new company-owned, company-operated (CoCo) outlets across India, support lease and rental payments, enhance technology and cloud infrastructure, strengthen brand marketing, pursue inorganic acquisitions and for general corporate purposes.
Founded in 2008, Lenskart began as an online eyewear platform before launching its first physical store in New Delhi in 2013. The company has since evolved into one of India's leading consumer brands in the eyewear segment, aiming to deliver accessible and affordable eyewear to a broad spectrum of consumers.
The company's retail presence spans metro, Tier-1, and Tier-2+ cities nationwide, complemented by international operations in Southeast Asia and the Middle East. The company operates frame and lens design and manufacturing facilities in Bhiwadi (Rajasthan) and Gurugram (Haryana), with additional regional facilities in Singapore and the United Arab Emirates (UAE).
The brand addresses diverse consumer needs through multiple sub-brands, including John Jacobs and Owndays for the premium segment, as well as Lenskart Air, Vincent Chase, Hustlr and Hooper Kids across the affordable and mid-range categories. In its international expansion, Lenskart has agreed to purchase the remaining 80 per cent stake in Stellio Ventures SL, which owns the 'Meller' eyewear brand, for Rs 4,063.93 million. Stellio's products are primarily sold online and through a store in Barcelona, Spain.
SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF) -- managed by SBI Mutual Fund -- have invested Rs 100 crore in Lenskart Solutions Limited through a pre-IPO transaction at a transfer price of Rs 402 per equity share. This investment precedes Lenskart's initial public offering (IPO), scheduled to open on Friday, October 31, 2025.
As part of this transaction, Neha Bansal, a promoter previously holding 7.61 per cent of the pre-offer paid-up equity share capital on a fully diluted basis, transferred 2,487,561 equity shares and now retains a 7.46 per cent stake. The share sale is not part of the IPO offer for sale (OFS).
The pre-IPO funding round has seen notable investor activity, including last week's participation by billionaire investor Radhakishan Damani, founder of Avenue Supermarts. Damani invested around Rs 90 crore in eyewear retailer Lenskart through a pre-IPO transaction, according to people familiar with the development.
Existing institutional investors in Lenskart include Alpha Wave Ventures LP, Bay Capital Holdings Ltd, Chiratae Trust, IDG Ventures India Fund III LLC, Kariba Holdings IV Mauritius, Kedaara Capital Fund II LLP, Kedaara Norfolk Holdings Limited and MacRitchie Investments Pte Ltd.
Lenskart intends to utilise the net proceeds from the IPO to establish new company-owned, company-operated (CoCo) outlets across India, support lease and rental payments, enhance technology and cloud infrastructure, strengthen brand marketing, pursue inorganic acquisitions and for general corporate purposes.
Founded in 2008, Lenskart began as an online eyewear platform before launching its first physical store in New Delhi in 2013. The company has since evolved into one of India's leading consumer brands in the eyewear segment, aiming to deliver accessible and affordable eyewear to a broad spectrum of consumers.
The company's retail presence spans metro, Tier-1, and Tier-2+ cities nationwide, complemented by international operations in Southeast Asia and the Middle East. The company operates frame and lens design and manufacturing facilities in Bhiwadi (Rajasthan) and Gurugram (Haryana), with additional regional facilities in Singapore and the United Arab Emirates (UAE).
The brand addresses diverse consumer needs through multiple sub-brands, including John Jacobs and Owndays for the premium segment, as well as Lenskart Air, Vincent Chase, Hustlr and Hooper Kids across the affordable and mid-range categories. In its international expansion, Lenskart has agreed to purchase the remaining 80 per cent stake in Stellio Ventures SL, which owns the 'Meller' eyewear brand, for Rs 4,063.93 million. Stellio's products are primarily sold online and through a store in Barcelona, Spain.