Azim Premji-backed PI Opportunities Fund To Reap Rs 350 Crore, Marks A 1,565% Gain In Lenskart IPO

Massive Windfall For Premji-Backed Fund

28 October 2025- Azim Premji-backed PI Opportunities Fund–II is expected to receive a staggering ₹350 crore from the upcoming Lenskart IPO, representing a phenomenal 1,565% return. The fund had invested around ₹21 crore at an average price of ₹24.14 per share and will sell a maximum of 87 lakh shares in the eyewear retailer’s upcoming IPO at an upper price of ₹402 per share.

Early Bet Pays Off

The fund owns 5.13% of Lenskart’s pre-offer fully diluted equity, established under the Premji Foundation and managed by PI Investment Advisory LLP. The fund is controlled by Premji Invest Ltd, which would bring in nearly ₹350 crore in the sale. The fund is established as a Category II Alternative Investment Fund.

Multi-Bagger Returns For Lenskart Promoters And Investors

This blockbuster IPO is meant to be a gain for the PI Opportunities Fund. Also, it is an opportunity for its founder and chief executive officer, Peyush Bansal, who will realise a return of over 2,061% by selling 2.05 crore shares for ₹824 crore. His co-founder and sister, Neha Bansal, is set to earn ₹40.62 crore by selling 10.1 lakh shares, representing a 5,189% return.

Among institutional investors, SoftBank’s SVF II Lightbulb (Cayman) is expected to deliver a 422% return. Temasek’s MacRitchie Investments, Kedaara Capital, Schroders Capital, and Alpha Wave Ventures are also in for the offer for sale.

Lenskart IPO: One Of 2025’s Biggest Offerings

The Lenskart IPO will be open from October 31 to November 4 and aims to raise about ₹7,278 crore. The amount consists of a fresh issue of ₹2,150 crore and an offer-for-sale of ₹5,128 crore, making it one of the largest IPOs in 2025.

From Startup To Market Leader

Founded in 2008. Lenskart has grown into a multichannel eyewear brand with around 2,500 stores in India, the Middle East, and Southeast Asia. It recorded a net profit of ₹297 crore in FY25, up from a loss of ₹10 crore in FY24, and revenue of ₹ 6,625 crore.

Early Investors To Book Major Gains

With Lenskart preparing to launch on Dalal Street, Premji Invest and other early and strategic investors will benefit from what will be one of the best venture capital exits in 2023, which continues to exemplify the potential for value creation in India’s rapidly growing consumer-tech and retail sectors.

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations