Lenskart Solutions Limited IPO: Major Fundraising Ahead of Public Offering

Omni-channel eyewear retailer Lenskart Solutions Limited has successfully secured Rs 3,268.36 crore from 147 anchor investors prior to its initial public offering. The company, supported by Premji Invest, issued 8.13 crore equity shares at the upper limit of the price range of Rs 402 per share. The IPO is set to commence on October 31 and will conclude on November 4, with a price range from Rs 382 to Rs 402 per equity share, carrying a face value of Rs 2 each. Bids can be placed for a minimum of 37 equity shares, resulting in a minimum investment of Rs 14,874 and multiples thereafter.

Anchor Investor Allocation Breakdown

Out of the total allocated shares for anchor investors, 2.87 crore shares (35.34%) were assigned to 21 domestic mutual funds across 59 schemes. The anchor book received contributions from notable domestic mutual funds such as SBI, HDFC, ICICI Prudential, Kotak, Axis, and Aditya Birla Sun Life. It also attracted leading insurance companies including SBI Life, HDFC Life, and ICICI Prudential Life.

Global Investor Engagement

Noteworthy global investors, like GIC, MAS, GPFG, Fidelity, Goldman Sachs, Nomura, Amundi, JP Morgan, and Wellington, participated in the anchor round as well.

Recent Investments by SBI Mutual Fund

On Wednesday, SBI Mutual Fund made an investment of Rs 100 crore in Lenskart through a secondary transaction involving its SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF). This deal entailed purchasing shares from co-founder Neha Bansal at Rs 402 apiece, securing a 0.15% fully diluted ownership stake.

Projected Returns from the Lenskart IPO

The Lenskart IPO is anticipated to yield approximately Rs 1,100 crore (around $125 million) in exit proceeds specifically for its founders. Early-stage investors are poised to gain returns reaching up to 17 times their initial investments, with firms such as Premji Invest and Schroders Capital expected to attain the most significant multiples.