The company’s rapid growth, expanding market share and strong brand presence are among the factors that are appealing to the prominent investors. This is expected to further fuel demand when the IPO hits the market.
According to the Moneycontrol report, Damani and SBI Mutual Fund are likely to invest ₹100 crore each in the eyewear retailer. The investment is expected to be made through secondary share purchases, ahead of Lenskart’s upcoming IPO.
For SBI Mutual Fund, this would be its second major investment in a new-age consumer internet company, following Urban Company.
Lenskart has already received regulatory approval from SEBI for its IPO. The public offering will include the issuance of fresh shares worth ₹2,150 crore and an Offer-for-Sale (OFS) of around 13.2 crore shares.
The company plans to use the proceeds from the fresh issue to open new stores, upgrade its technology infrastructure and strengthen brand marketing as well as fund potential acquisitions.
CEO Peyush Bansal On Lenskart IPO
The Gurugram-based company has been grabbing eyeballs from high-profile investors amid its effort to become the ‘eyewear capital’ of the world.
In an interview with CNBC-TV18 this week, CEO Peyush Bansal commented that he sees the opportunity as a “milestone to unlock talent, governance, and operational excellence” and that getting listed allows the company “to build foundations for the next orbit.”
Talking about Lenskart’s long-term goals and integration with an AI-driven world, Bansal said, “I am, like, high on AI… I feel like everything we have been wanting to solve and maybe have been failing at….it’s just gonna happen in the next two years (with AI)…”
Explaining his vision, he pointed to innovations such as doing eye tests on the phone, calling it a dream and labelling it as the ‘polio’ moment for India.
“I think now it’s possible… also with smart eyewear… one thing I can tell is that if you are visually impaired, with smart glasses, you should be able to have a much higher quality of life…,” he added.
Lenskart is India’s largest and one of Asia’s top two organised retailers of prescription eyeglasses by B2C sales volume in the financial year 2025, according to the Redseer Report. Unlike many new-age companies that chose confidential filings, Lenskart’s DRHP is publicly accessible.