Lenskart IPO: Founders, early backers to make massive gains
Lenskart is going public on October 31, and it's shaping up to be a huge payday for its founders and early backers.
The eyewear brand is aiming to raise ₹2,150 crore with new shares, while existing shareholders will cash out up to ₹5,128 crore through an offer for sale.
With each share priced at ₹402, Lenskart's valuation hits a massive ₹70,000 crore (about $8 billion).
Founders and investors cashing in big time
Co-founder Peyush Bansal is set to pocket around ₹824 crore by selling his shares; Neha Bansal will make about ₹41 crore.
Early investor SoftBank stands to get a solid 5.4X return with its ₹1,026 crore share sale. Schroders Capital and Premji Invest are seeing even bigger wins—nearly 10X and a whopping 16.7X returns.
Lenskart is expected to use the fresh funds for expansion and tech upgrades as it doubles down on leading India's eyewear scene.