Lenskart Solutions Ltd., India's largest prescription eyeglasses retailer by volume among organized players, is set to launch its Initial Public Offering (IPO) on Friday. The technology-driven eyewear company aims to raise Rs 7,278 crore through this public issue, marking a significant milestone in its growth journey.

IPO Details

Offer for Sale Participants

The offer for sale component of the IPO includes shares from several existing investors:

• SoftBank Vision Fund
• Kedaara Capital
• TR Capital
• Chiratae Ventures

Financial Performance

Lenskart has demonstrated strong financial growth and profitability:

The company's transition to profitability is noteworthy, especially considering its history of losses in previous years.

Key Highlights

1. Market Position: Lenskart has established itself as the largest prescription eyeglasses seller by volume among organized retailers in India.

2. Technology-Driven: The company leverages technology to enhance its operations and customer experience.

3. Pre-IPO Investment: Radhakishan Damani, known for DMart, invested Rs 90 crore in Lenskart ahead of the IPO, potentially boosting investor confidence.

Risk Factors

Potential investors should consider the following risks:

1. Ongoing legal proceedings against CEO Peyush Bansal and other senior personnel.
2. Data security concerns, given the company's technology-centric approach.
3. Heavy reliance on marketing expenditure for growth and brand building.

The Lenskart IPO presents an opportunity for investors to participate in the growth of India's eyewear market. However, as with any investment, it's crucial to carefully evaluate the company's prospects, financials, and associated risks before making an investment decision.

SBI Mutual Fund has invested ₹100 crore in Lenskart Solutions, the eyewear retailer, ahead of its anticipated initial public offering (IPO). This investment comes as Lenskart prepares for its IPO, which is expected to open on October 31, 2025.

Investment Details

SBI Optimal Equity Fund and SBI Emergent Fund, both part of SBI Mutual Fund, have acquired shares in Lenskart at ₹402 per equity share. This price aligns with the upper end of Lenskart's proposed IPO price band of ₹382-402 per share.

Ownership Changes

As part of this transaction, promoter Neha Bansal has sold 2,487,561 equity shares, resulting in a slight reduction of her stake in the company:

Note: Percentages are on a fully diluted basis

Recent Investments

This investment by SBI Mutual Fund follows another recent pre-IPO transaction involving billionaire investor Radhakishan Damani, who invested approximately ₹90 crore in Lenskart.

IPO Timeline

Lenskart's Performance

In the fiscal year 2025, Lenskart reported:

• Sales of 27.2 million eyewear units
• Service to 12.41 million customer accounts globally

IPO Proceeds Utilization

Lenskart plans to use the funds raised from the IPO for various initiatives:

1. Opening new stores
2. Enhancing technology infrastructure
3. Brand marketing
4. Potential acquisitions

The investment by SBI Mutual Fund, along with the recent investment by Radhakishan Damani, suggests institutional interest in Lenskart ahead of its IPO. The company's reported sales figures and plans for utilizing IPO proceeds indicate its growth strategy.