Lenskart gold rush: Who’s making how much from India’s eyewear unicorn’s mega IPO

Lenskart

Early backers and promoters of Lenskart Solutions Ltd are set to reap substantial gains as the eyewear retailer gears up for its much-anticipated initial public offering (IPO). The company has fixed its price band at Rs 382–402 per share, valuing the firm at around Rs 69,676 crore at the upper end.

The IPO opens for subscription on October 31, with anchor investors bidding on October 30. The issue will close on November 4, followed by the basis of allotment on November 6, refunds and share credits on November 7, and listing on November 10.

At the announced valuation, Co-founder and CEO Peyush Bansal, who also serves as Chairman and Managing Director, is set to earn a stellar return. Bansal holds 17.32 crore shares, acquired at an average cost of Rs 18.6 per share, representing a 10.28 percent stake. At the upper price band, his holding is valued at Rs 6,964 crore, translating into a 20-fold gain on his pre–price-band holding, which was valued at Rs 323 crore.

Neha Bansal, Co-founder and Executive Director (Global Head of Merchandising) and sister of Peyush Bansal, holds 12.83 crore shares at an average acquisition cost of Rs 7.6 per share. Her stake, earlier valued at Rs 98 crore, now stands at Rs 5,157 crore—a staggering 5,200 percent increase.

Fellow co-founders Amit Chaudhary and Sumeet Kapahi also stand to benefit handsomely. Chaudhary holds 1.66 crore shares and Kapahi 1.62 crore shares, both acquired at an average price of Rs 8.1 per share. Their holdings, earlier valued at around Rs 13 crore each, are now worth over Rs 650 crore apiece—an almost 5,000 percent rise.

Global investors, including SoftBank, Temasek, and Kedaara Capital, will also see impressive returns. Kedaara Capital, through its funds—Kedaara Capital Fund II LLP and Fund III—holds 8.9 crore shares (4.81 percent stake) acquired at an average cost of Rs 75 per share. This investment, initially worth Rs 668 crore, is now valued at Rs 3,580 crore, marking a 435 percent surge.

Temasek’s MacRitchie Investments Pte holds 8.19 crore shares at an average price of Rs 97.75 per share. The value of this stake has climbed from Rs 800 crore to Rs 3,293 crore, representing a 311 percent jump.

SoftBank-backed SVF II Lightbulb (Cayman), which holds 25.35 crore shares at an average acquisition price of Rs 74.26 per share, has seen the value of its investment rise from Rs 1,882 crore to Rs 10,188 crore—a 442 percent gain.

KKR-backed Birdseye View Holdings owns 3.71 crore shares at an average price of Rs 163.64 per share. With the IPO pricing, this holding is now valued at Rs 1,491 crore, up 145 percent from its original Rs 607 crore investment.

Meanwhile, Bay Capital and PremjiInvest-backed PI Opportunities Fund also stand to benefit. Bay Capital’s 1.83 crore shares, acquired at Rs 161.28 per share, are now worth Rs 738 crore, up from Rs 296 crore. PI Opportunities’ 8.65 crore shares, bought at Rs 24 per share, are now valued at Rs 3,475 crore, reflecting a gain of over 1,560 percent.

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