Synopsis
SBI Mutual Fund has invested Rs 100 crore in Lenskart. This investment values the eyewear retailer at Rs 67,762 crore. Lenskart is preparing for its initial public offering. The company’s shares are set to list on exchanges on November 10. The IPO is expected to value Lenskart at Rs 70,000 crore.
SBI Mutual Fund has picked up a stake in IPO-bound eyewear retailer Lenskart for Rs 100 crore, according to a new disclosure by the Gurugram-based company.
SBI Mutual Fund has bought the stake from Lenskart cofounder and promoter Neha Bansal, as per the disclosure. The transaction was done at a price of Rs 402 per share, valuing the company at Rs 67,762 crore (around $7.7 billion).
Bansal had earlier sold Rs 90 crore worth of stock at the same valuation to Dmart promoter Radhakishan Damani.
Lenskart will launch its IPO on Friday and is expected to be valued at Rs 70,000 crore ($8 billion) on a post-money basis.
The company’s shares will list on the exchanges on November 10.
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