Lenskart CEO Peyush Bansal to earn a 21x profit through his stake sale

Eyewear brand Lenskart's founder and CEO, Peyush Bansal, best known from Shark Tank India, is set to pocket about ₹824 crore through the company's initial public offering (IPO).

Bansal will offload 2.05 crore shares in the offer for sale (OFS) portion, priced at the upper end of ₹402 per share.

He had originally acquired these shares at an average cost of just ₹18.6 apiece, meaning he will earn over 20 times his initial investment, translating to a massive return of over 2,000%.

Post-listing, Bansal will retain about 8.78% ownership in Lenskart.

The IPO, which has opened for subscription today, will remain open until November 4. The company is looking to raise up to ₹7,278.02 crore via the issue.

Lenskart is offering its shares at a price band of ₹382-₹402 apiece, with 10% of the issue reserved for retail investors. One lot will comprise 37 shares, requiring a minimum investment of ₹14,874 at the upper end of the price band.

At this upper price band, the company could be valued at around ₹69,741 crore on a post-issue basis.

The IPO aims to raise fresh capital to fuel business expansion and provide an exit opportunity for early investors

IPO structure

Lenskart aims to raise ₹2,150 crore through a fresh issue to fund its business expansion. Existing investors will offload 12.76 crore shares through an Offer for Sale (OFS).

The OFS will include stakes from founder and CEO Peyush Bansal, SoftBank's SVF II Lightbulb (Cayman), Kedaara Capital, ChrysCapital's PI Opportunities Fund II, KKR's MacRitchie Investments, and Alpha Wave Ventures.

Ahead of the IPO, SBI Mutual Fund invested ₹100 crore in Lenskart, valuing the company at around $7.7 billion, following a separate pre-IPO transaction where billionaire investor Radhakishan Damani bought shares worth ₹90 crore.

Post-issue, the promoters' stake is expected to fall from 19.9% to 17.7%.

Lenskart anchor book

Ahead of the public issue, Lenskart Solutions has raised ₹3,268.4 crore from anchor investors at ₹402 per share, showing strong institutional interest.

Foreign investors include Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global (Norway), New World Fund Inc, Fidelity, T Rowe Price, BlackRock, Capital Group, Goldman Sachs, Nomura, and JP Morgan.

Domestic institutional investors include leading mutual funds such as SBI Mutual Fund, HDFC MF, ICICI Prudential MF, Kotak MF, Axis MF, Aditya Birla Sun Life Mutual Fund, and Mirae Asset.

Financials

Over the past three years, the company's revenue has grown over 30% annually, while EBITDA has surged more than 90% a year.

For FY25, Lenskart reported revenue of ₹6,652 crore and a profit of ₹297 crore, including the aforementioned one-time gain. The company operates over 2,100 stores, with around 40% of its revenue coming from international markets, highlighting its global ambitions.Read about our editorial guidelines and ethics policy