SBI Mutual Fund Acquires ₹100 Crore Stake in IPO-Bound Lenskart Ahead of Listing

SBI Mutual Fund has invested ₹100 crore in eyewear retailer Lenskart, ahead of the company’s much-anticipated initial public offering (IPO) scheduled to open this Friday.

According to a recent regulatory disclosure, the fund house purchased shares from Lenskart cofounder and promoter Neha Bansal at a price of ₹402 per share, valuing the Gurugram-based company at ₹67,762 crore (approximately $7.7 billion).

This investment marks another high-profile pre-IPO transaction for the eyewear unicorn, which continues to attract major institutional and retail investors.

Earlier this month, Bansal had sold ₹90 crore worth of shares to Radhakishan Damani, promoter of DMart, at the same valuation.

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IPO Details and Valuation

Lenskart’s IPO, which opens on Friday, is expected to peg the company’s post-money valuation at around ₹70,000 crore ($8 billion). The shares are slated to list on the stock exchanges on November 10.

The eyewear major, founded by Peyush Bansal in 2010, has grown into one of India’s most successful omnichannel retail brands, combining online sales with an extensive physical presence across the country.

With SBI Mutual Fund now joining the list of key investors, Lenskart’s upcoming IPO is being closely watched as a potential bellwether for India’s consumer-tech sector, which has seen renewed investor interest after months of caution.