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Eyewear giant Lenskart has raised an investment of INR 100 Cr ($11.3 Mn) in its pre-IPO round from SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF). As part of the transaction, Lenskart promoter Neha Bansal has transferred 24.88 Lakh equity shares or 0.15% stake in the company to the investor at a price of INR 402 apiece.
Following this transaction, Bansal now holds 7.46% stake in the company.
This marks the second pre-IPO investment that the company has raised in recent days. Earlier last week, DMart founder Shrikanta Damani bought shares worth INR 90 Cr in Lenskart from Bansal .
Lenskart’s initial public offering (IPO) is set to open on Friday and subsequently close on November 4. The IPO comprises a fresh issue of shares worth INR 2,150 Cr and an offer for sale (OFS) component of 12.76 Cr shares.
Lenskart investors SoftBank (SVF II Lightbulb (Cayman) Ltd), Schroders Capital, Premji Invest (PI Opportunities Fund – II), Temasek (Macritchie Investments Pte Ltd), Kedaara Capital, Alpha Wave Ventures and promoters Peyush Bansal, Amit Chaudhary, Sumeet Kapah would sell some of their stake in the IPO.
Founded in 2010, Lenskart sells a wide range of products including eyeglasses, sunglasses, and contact lenses through a combination of online and physical stores. The company has expanded into multiple customer segments over the years through various brands. Its premium offerings brands include John Jacobs and Owndays, while other brands include Lenskart Air, Vincent Chase, hustlr, and Hooper Kids.
On the global scale, Lenskart expanded via acquisitions, including the latest acquisition of Meller. In its DRHP filing, Lenskart revealed that it acquired the remaining 80% stake in Stellio Ventures S.L. (owner of eyewear brand Meller) for INR 406.4 Cr.
Lenskart’s financial performance has also been seeing a sustained growth in profitability, where it posted a net profit of INR 61.2 Cr in the first quarter of FY26 as against a loss of INR 11 Cr incurred in the same quarter previous year.
Operating revenue for the quarter stood at INR 1,894.5 Cr, marking a 25% jump from INR 1,520.4 Cr recorded in the same quarter previous year.
For the previous fiscal year, the eyewear giant reported a net profit of INR 297.3 Cr in FY25, as against a loss of INR 10.2 Cr in the previous fiscal. Its operating revenue for the full fiscal increased 23% to INR 6,652.5 Cr from INR 5,427.7 Cr in FY24.
The post Lenskart Raises INR 100 Cr From SBI Mutual Fund In Pre-IPO Round appeared first on Inc42 Media.
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