SBI Mutual Fund has invested Rs 100 crore in eyewear retailer Lenskart Solutions Ltd ahead of its upcoming IPO. The investment was made through its two alternative investment funds — SBI Optimal Equity Fund and SBI Emergent Fund — which together bought 24.87 lakh shares from promoter Neha Bansal at Rs 402 each, according to company filings.
Lenskart’s anchor book will open on October 29, followed by the public offer between October 30 and November 4. The company plans to raise Rs 2,150 crore via a fresh issue, along with an offer for sale (OFS) of 12.76 crore shares by existing shareholders, including founder Peyush Bansal, SoftBank, Kedaara Capital, ChrysCapital, KKR, and Alpha Wave Ventures.
Proceeds from the fresh issue will fund store expansion, rentals, technology, marketing, and acquisitions over the next three years, while OFS proceeds will go to selling investors. Lenskart reported a Rs 297-crore profit in FY25 versus a Rs 10-crore loss in FY24, with revenues up 23% to Rs 6,652 crore. The SBI investment values the company at around $7.7 billion, positioning it among India’s top consumer internet brands.
