Lenskart raises Rs 3,268 Cr from anchor investors

Omni-channel eyewear retailer Lenskart Solutions Limited has raised Rs 3,268.36 crore from 147 anchor investors ahead of its initial public offering. The Premji Invest-backed company allotted 8.13 crore equity shares at the upper end of the price band of Rs 402 per share.

The IPO opens on October 31 and closes on November 4, with a price band of Rs 382–402 per equity share (face value Rs 2 each). As per disclosure, bids can be made for a minimum of 37 equity shares with the minimum investment of Rs 14,874 and in multiples thereafter.

Out of the total allocation to anchor investors, 2.87 crore shares (35.34%) were allotted to 21 domestic mutual funds through 59 schemes.

The anchor book saw  participation from domestic mutual funds such as SBI, HDFC, ICICI Prudential, Kotak, Axis, and Aditya Birla Sun Life, along with leading insurers  SBI Life, HDFC Life, and ICICI Prudential Life.

Global investors including GIC, MAS, GPFG, Fidelity, Goldman Sachs, Nomura, Amundi, JP Morgan, and Wellington also joined the anchor round.

On Wednesday, SBI Mutual Fund invested Rs 100 crore in Lenskart through a secondary deal via its SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF), buying shares from co-founder Neha Bansal at Rs 402 apiece for a 0.15% fully diluted stake.

Lenskart IPO is expected to generate around Rs 1,100 crore (approximately $125 million) in exit proceeds for its founders alone. Early-stage investors are set to reap returns of up to 17 times on their investments, with firms like Premji Invest and Schroders Capital slated to record the highest multiples.