SBI MF invests Rs 100 Cr in Lenskart in pre-IPO round

SBI Mutual Fund, through its SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF), has invested Rs 100 crore in a secondary transaction in Lenskart, ahead of the company’s IPO opening for subscription on October 31.

SBI Mutual Fund purchased 2,487,561 equity shares of Lenskart from co-founder Neha Bansal at Rs 402 per share, amounting to Rs 100 crore on October 28, 2025. The transaction represents a 0.15% stake in the company on a fully diluted basis.

Neha Bansal also sold 2.24 million (22.38 lakh) shares of Lenskart to Shrikanta R. Damani, wife of DMart founder Radhakishan Damani, at Rs 402 per share, amounting to Rs 90 crore, ahead of the company’s RHP filing on October 25.

Neha Bansal diluted her stake in Lenskart by 0.15%, bringing her shareholding down to 7.46% after the transfer of shares.

According to its RHP, the Gurugram-based company plans to raise Rs 2,150 crore through a fresh issue and Rs 5,128 crore via an offer for sale (OFS). Following the recent secondary transaction, the OFS size has been revised to Rs 5,028 crore.

Lenskart’s IPO is poised to deliver substantial returns to its promoters and early investors. The promoters are expected to realize around Rs 1,000 crore, while investors including Premji Invest, Schroders Capital, Temasek, SoftBank, and others are likely to earn returns ranging from 4x to nearly 17x on their investments.

The OFS amount breakup and corresponding return multiples can be viewed here.