Lenskart IPO: Peyush Bansal to Gain ₹823.66 Crore from Share Sale

Gurugram, October 27: Eyewear brand Lenskart Solutions is set to launch its much-awaited Initial Public Offering (IPO) on October 31. The IPO will see its founder and CEO Peyush Bansal sell 2.05 crore shares, which is likely to earn him ₹823.66 crore. By selling these shares, Peyush Bansal will then hold an 8.78% stake in the company.

Lenskart Solutions an Indian eyewear retailer and operates a chain of stores across India. The company was established in 2010 and is headquartered in Gurugram, Haryana.

Lenskart Book Build Issue of ₹7,278.02 Crore

The issue size of the Lenskart IPO is ₹7,278.02 crore. This includes a fresh issue of 5.35 crore shares, aggregating to ₹2,150.00 crores and an offer for sale of 12.76 crore shares, aggregating to ₹5,128.02 crores. The company has set a price band of ₹382 to ₹402 per share. The lot size is 37 shares per application, amounting to a minimum investment of ₹14,874 (37 shares), based on upper price. The lot size investment for sNII is 14 lots (518 shares), totalling ₹2,08,236, and for bNII, it is 68 lots (2,516 shares), totalling ₹10,11,432.

The share allotment is expected on November 6, while the company is expected to credit the shares and initiate refunds on November 7. The company has hired MUFG Intime India Pvt. Ltd. as the registrar of the issue but is yet to announce the book running lead manager for the issue.

Lenskart IPO Peyush Bansal’s Multi-Bagger Returns

Peyush Bansal’s sale of 2.05 crore is estimated to be valued at ₹823.66 crore, at the upper price band of ₹402 per share. With an average cost of acquisition of ₹18.6 per share, the valued amount will provide him with an exceptional return of 2,061%. Co-founder Neha Bansal is also participating in the OFS, and will sell 10.1 lakh shares worth ₹40.62 crore. Her average acquisition cost of ₹7.60 per share means that she will get a 5,189% return on her initial investment.

Furthermore, co-founders Amit Chaudhary and Sumeet Kapahi will each sell 28.7 lakh shares. Among institutional investors, SoftBank-backed SVF II Lightbulb (Cayman) will sell 2.55 crore shares, and will earn a 422% return. Meanwhile, PI Opportunities Fund will earn a 1,560% gain. Other selling investors include Schroders Capital, Kedaara Capital, Temasek’s MacRitchie Investments, and Alpha Wave Ventures. Furthermore, the company also got a ₹90 crore investment from Radhakishan Damani, founder of Avenue Supermarts (DMart) earlier this month.

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