Peyush Bansal acquires ₹222 crore worth of Lenskart shares ahead of IPO

Peyush Bansal, co-founder and CEO of Lenskart, has acquired a 2.5% stake in the eyewear company by buying 42.7 million shares at ₹52 per share, resulting in a total investment of ₹222 crore. The deal was executed via secondary cash transactions with investors including SoftBank, Chiratae Ventures, Kedaara Capital, Temasek, Premji Invest, and others. The deal values Lenskart at approximately ₹8,700 crore (~$1 billion)

📈 Why This Share Buyback Matters

Strengthening Promoter Stake

With this purchase, Bansal’s personal stake rises beyond 10%, ensuring he qualifies as a promoter—a designation offering enhanced governance control ahead of the IPO

Strategic Pre‑IPO Realignment

The transactions align with a growing trend where startup founders fortify their ownership before going public, as seen with companies like Swiggy, PB Fintech, and Freshworks

Sharp Valuation Discount

The ₹52/share price reflects a steep discount—about 90%—to Lenskart’s expected IPO valuation of ₹70,000–75,000 crore (~$8–9 billion)

🔍 Deal & Company Overview

• Shares Acquired: 42.7 million
• Purchase Price: ₹52 per share
• Total Consideration: ₹222 crore
• Valuation Implied: ₹8,700 crore ($1 billion)
• Lock-in Structure: Secondary cash deal with institutional shareholders

Lenskart’s IPO includes a fresh issue and an offer-for-sale (OFS), in which Bansal himself plans to sell approximately 20.5 million shares—potential proceeds of ₹700–750 crore post-listing

🧭 Implications & Strategic Value

• Investor Confidence: Founder buyback at steep discount suggests belief in long-term growth ahead of public listing.
• Promoter Control: Achieving a promoter tag secures governance and strategic influence post-IPO
• Market Positioning: As Lenskart aims for one of India’s largest IPOs, strengthening founding stakes communicates stability and alignment to markets.

Summary Table