Lenskart IPO 2025: Promoter and Anchor Investor Playbook: Who’s Selling, Who’s Buying and Why It Matters

Mumbai, 28 October 2025: India’s largest eyewear retailer, Lenskart Solutions Ltd, co-founded by Peyush Bansal, has announced details of its upcoming ₹7,278 crore initial public offering (IPO), marking one of the most significant listings in India’s consumer-tech space this year. The issue reveals a sharp reshuffle in ownership, with core promoters offloading shares worth over ₹5,100 crore, even as global institutional investors prepare to anchor the listing.

Promoters to Offload ₹5,128 Crore Stake as Founders Reduce Holdings Before Listing

According to the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), the Lenskart IPO consists of a fresh issue of ₹2,150 crore and an offer for sale (OFS) aggregating up to ₹5,128.02 crore. The selling shareholders include the company’s key promoters,  Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, alongside early institutional investors.

CEO Peyush Bansal will sell 2.05 crore shares, amounting to nearly ₹785 crore, while Neha Bansal will offload 57.36 lakh shares. Other co-founders are also diluting smaller portions of their holdings. This calibrated stake reduction will lower the promoter shareholding from 19.85% before the issue to approximately 17.52% post-listing.

The partial exit by founders signifies a strategic move to monetise long-term equity gains without eroding control. It also enhances the company’s public float, a key factor in improving post-listing liquidity and compliance with SEBI’s minimum public shareholding norms.

Global Institutions Line Up as Anchor Investors Amid ₹69,676 Crore Valuation

At the upper end of the ₹382–₹402 price band, the Lenskart IPO valuation is pegged at around ₹69,676 crore (US$7.9 billion). The issue reserves 75% for Qualified Institutional Buyers (QIBs), 15% for non-institutional investors, and 10% for retail participants.

The anchor book opens on 30 October 2025, followed by the public subscription window from 31 October to 4 November, with a tentative listing on 10 November 2025 on both the BSE and NSE.

Among the expected anchor investors are global giants such as SoftBank Vision Fund, Temasek Holdings, and Kedaara Capital, all of whom have previously backed the company. Domestic mutual funds, including SBI Mutual Fund, have also participated in recent secondary rounds.

Radhakishan Damani, founder of Avenue Supermarts Ltd. (DMart), invested about ₹90 crore in Lenskart during a pre-IPO funding round held just before the public issue. His investment, made ahead of the anchor round, signalled early institutional interest in the company.

The strong pre-IPO demand from marquee institutions underscores confidence in Lenskart’s business fundamentals, digital-first scalability, and profitability trajectory. It also reflects broader investor interest in India’s premium direct-to-consumer (D2C) retail space.

Why the Promoter-Anchor Dynamic Matters for the Lenskart IPO 2025

The dual movement of promoter exits and anchor entries defines the underlying market sentiment for the Lenskart IPO. While the Bansal-led founders monetise a portion of their holdings, the infusion of institutional anchors strengthens market credibility and supports price discovery.

This transition balances ownership between long-term institutional investors and original promoters, providing stability in post-listing share performance. Additionally, the mandatory anchor lock-in period, 30 days for half the allotment and 90 days for the rest, will help prevent sharp price volatility after debut.

Such a structure aligns with global best practices, ensuring both regulatory compliance and market stability. It signals that Lenskart is maturing from a venture-funded startup into a professionally governed listed entity.

The Lenskart IPO 2025 represents a defining moment for India’s consumer retail sector, balancing promoter monetisation with institutional participation. While founders pare stakes, the entry of reputed anchor investors underlines market validation of Lenskart’s digital and physical growth model. The proceeds from the fresh issue will fund store expansion, technology modernisation, and brand marketing, positioning the company for sustained global scalability in the years ahead.

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