Investment entities PremjiInvest, SoftBank, and Kedaara stand poised for financial gains as eyeglasses retailer Lenskart prepares to initiate its Initial Public Offering (IPO).
Lenskart Aims for Stock Market Debut, Attracting Major Investors
Lenskart, India's leading online eyewear retailer, has taken a significant step towards its growth journey by filing preliminary papers for an initial public offering (IPO). The move comes as major marquee investors, including SoftBank, Temasek, Premji Invest, ADIA, Kedaara Capital, Schroders Capital, and Alpha Wave Ventures, show interest in participating in the IPO [1][2].
These private market investors are set to partially exit their holdings in Lenskart through an offer-for-sale (OFS) of shares. Notable share sales include SoftBank-backed SVF II Lightbulb (Cayman) selling approximately 2.6 crore shares, Schroders Capital offloading around 1.9 crore shares, and Premji Invest’s PI Opportunities Fund II selling 87 lakh shares, among others [1]. The founder of Lenskart, Peyush Bansal, is also selling shares worth around 20.5 million in the IPO's OFS segment [4].
The IPO, managed by major investment banks such as Morgan Stanley, Kotak Mahindra Capital, Axis Capital, and Citi, aims to raise fresh capital (~₹2,150 crore) for expansion and technology investments while providing an exit path to early investors [2][3]. As of mid-2024, Lenskart has been valued at about $6.1 billion [1][2][3].
Lenskart's growth trajectory is noteworthy, with the company continuing to expand its footprint in the eyewear market. Meanwhile, other developments in the investment landscape include ChrysCapital's potential investment in a PE-backed CDMO firm, and private market investors PremjiInvest, SoftBank, Kedaara Capital, and Temasek considering investments in Lenskart [1].
Elsewhere, the growth of a CDMO firm has been bolstered by funding from entities like Littlebox and Flexprice. However, the addition of new hospitals might impact the margins of Lenskart, should such a development occur [1].
In other news, a Blackstone-backed REIT is attracting funding from financial institutions and insurers ahead of its IPO. Meanwhile, the Japanese technology investment giant, a homegrown private equity firm, and a Singapore state investment firm are among the investors in a recent IPO by NSDL, which was fully sold within hours of its launch [1].
Lastly, Vahan.ai has made an acquisition in the upskilling space, further demonstrating the ongoing dynamism in India's tech sector.
[1] Source: Business Standard [2] Source: Economic Times [3] Source: Livemint [4] Source: Mint
Investors, including SoftBank, Temasek, Premji Invest, ADIA, Kedaara Capital, Schroders Capital, and Alpha Wave Ventures, are considering participating in Lenskart's initial public offering (IPO), which aims to raise fresh finance for expansion and technology investments. The founders and early investors, such as Peyush Bansal and SVF II Lightbulb (Cayman), are also selling shares in the IPO's OFS segment to provide an exit path.
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