Lenskart's IPO set to raise ₹2,150 crore, Peyush Bansal invests
Lenskart, India's leading eyewear brand, is heading for an IPO to raise ₹2,150 crore.
The company will issue new shares and sell 13.2 crore existing shares, aiming for a valuation of ₹70,000-₹75,000 crore ($8-9 billion).
Founder Peyush Bansal just boosted his stake by 2.5%, investing ₹222 crore at a pre-IPO valuation of over ₹8,700 crore.
India's biggest omnichannel eyewear retailer
Started in 2010, Lenskart has become India's biggest omnichannel eyewear retailer—think online shopping plus a ton of physical stores. They're also expanding into Southeast Asia and the Middle East.
Backed by big investors like SoftBank and Temasek, Lenskart's value jumped from $5 billion in June 2023 to $6.1 billion by April 2024.
Founders and early investors are partially exiting
Alongside Bansal and other founders selling nearly 3.2 crore shares, early investors like SoftBank (with a 15% stake), Temasek, Schroders, and Kedaara Capital are also cashing out some of their holdings through the offer-for-sale route—giving them some well-earned liquidity after backing Lenskart's journey so far.
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