SBI Mutual Fund has invested Rs 100 crore in eyewear brand Lenskart through its SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF) in a secondary share transaction, just days before the company’s initial public offering (IPO) opens for subscription on October 31.
The mutual fund purchased 2,487,561 equity shares from Neha Bansal, co-founder of Lenskart, at Rs 402 per share, representing a 0.15% stake on a fully diluted basis. The deal was executed on October 28, 2025.
Separately, Neha Bansal sold 2.24 million shares (valued at Rs 90 crore) to Shrikanta R. Damani, wife of DMart founder Radhakishan Damani, at the same price of Rs 402 per share, shortly before the company filed its Red Herring Prospectus (RHP) on October 25.
Following these transactions, Bansal’s shareholding in Lenskart declined by 0.15%, bringing her total stake down to 7.46%.
According to its RHP, Lenskart plans to raise Rs 2,150 crore through a fresh issue of shares and Rs 5,128 crore via an offer for sale (OFS). After the recent secondary transactions, the OFS size has been revised to Rs 5,028 crore.
Founded in 2010 and headquartered in Gurugram, Lenskart has grown into India’s leading omnichannel eyewear retailer, backed by marquee investors including Premji Invest, SoftBank, Temasek, Schroders Capital, and others. The company’s IPO is expected to yield significant returns for its founders and early backers, with promoters likely to realize around Rs 1,000 crore, while investors could see returns of 4x to 17x on their original investments.
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