The highly anticipated public issue of eyewear retailer Lenskart Solutions Limited is set to open on October 31, marking another significant milestone in the Indian startup ecosystem. The Rs 7,278. 02 crore IPO promises substantial returns for the company's founders and early investors. Market experts project that if Lenskart's shares list at a 22% premium on listing day, co-founder Peyush Bansal's total wealth could surpass the $1 billion mark, catapulting him into the exclusive billionaire club. This IPO isn't only poised to raise capital for the company's expansion.
But also to reward the visionary minds and staunch supporters behind its journey.
The price band for the Lenskart IPO has been fixed at Rs 382-402 per share, with a lot size of 37 shares. The IPO will open on October 31 and close on November 4,. With shares expected to list on BSE and NSE on November 10. The offering comprises a fresh issue of Rs 2,150 crore, which will be utilized for the company's growth and expansion initiatives. Also, an Offer For Sale (OFS) of 12. 75 crore equity shares by promoters and investors is included, providing existing shareholders with an opportunity to monetize their holdings.
Peyush Bansal's Billionaire Trajectory
For Lenskart's co-founder Peyush Bansal, this IPO could be a game-changer. According to available data, his estimated total holding value after the IPO (at the upper price band) stands at Rs 6,963. 5 crore. If the shares list with a 22% premium, his total wealth from Lenskart could reach approximately Rs 8,495. 47 crore (roughly $1, while 03 billion), potentially making him a dollar billionaire. Bansal invested at a weighted average cost of just Rs 18, while 6 per share, now commanding a staggering 2061. 3% return. He's also set to sell 2. 05 crore shares through the OFS, valued at Rs 824. 10 crore at the upper price band.
Founders and Early Backers Strike Gold
Beyond Peyush Bansal, other founders and early investors have also reaped substantial profits from their Lenskart holdings. Neha Bansal is looking at an astounding 5189. 5% return on her investment, while Amit Chaudhary and Sumeet Kapahi are set to receive impressive returns of 4826, while 5% and 4856. 8% respectively, while these figures underscore the immense payoff for their early belief and contribution to the company's success. The IPO represents the culmination of decades of hard work and foresight for these individuals.
Global Investors' Significant Gains
Global investors have also recorded significant profits in the IPO. SoftBank's SVF II Lightbulb (Cayman), holding a 15. 3% stake, has achieved a 441, while 3% return, with a holding value of Rs 10,187. 9 crore. Alpha Wave Ventures LP has seen a 279. 5% return, while Kedaara Capital Fund II LLP has recorded a 436. 1% return. PI Opportunities Fund II and Chiratae Trust have garnered exceptional returns of 1565. 3% and 1401. 7% respectively, while schroders Capital Private Equity Asia Mauritius is exiting Lenskart entirely by selling all of its 1. 9 crore shares, representing a successful exit strategy for the fund.
Pre-IPO Strategic Investments
Prior to the IPO, Lenskart successfully raised capital from strategic investors, further affirming confidence in its strong valuation and future prospects. SBI Mutual Fund invested Rs 100 crore in Lenskart, valuing the company at approximately $7. 7 billion. This investment was made through SBI Optimal Equity Fund and SBI Emergent Fund, which acquired 24. 87 lakh shares from Neha Bansal at Rs 402 per share. Similarly, Shrikanta R. Damani, wife of Avenue Supermarts (D-Mart) founder Radhakishan Damani, also purchased 22,38,806 equity shares from Neha. Bansal for Rs 90 crore, highlighting the trust placed in the company's potential by major market players.
Market Buzz and Future Outlook
The Grey Market Premium (GMP) for Lenskart shares has seen a. Decline, currently trading at a premium of Rs 48 or 11. 94% over the upper price band. The company plans to use the proceeds from the fresh issue for opening new stores across India, investing in technology and Artificial Intelligence capabilities, brand marketing and promotion, acquisitions, and general corporate purposes, while lenskart is also rapidly expanding in Southeast Asia, with approximately 40% of its revenue now coming from outside India. The company's next big bet is on smart eyewear, a crucial area for future growth. This IPO marks the beginning of a new chapter for Lenskart, solidifying its position in the global eyewear market.
