SBI Mutual Fund buys Rs 100-crore worth Lenskart stake at $7.7 billion valuation

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.