Peyush Bansal raising Rs 200 cr loan marks a strategic pre‑IPO move by the Lenskart co‑founder and CEO. He plans to use the loan to purchase additional shares from existing investors at a $1 billion valuation, deepening his ownership in the eyewear firm ahead of its planned public debut later this year.
📈 What’s the Move?
- Peyush Bansal is reportedly in talks to secure a ₹200 crore (≈ $24 million) loan.
- The objective: buy shares from investors like SoftBank, Chiratae, and TR Capital at a sharply discounted valuation of $1 billion, down from Lenskart’s expected $10 billion IPO valuation. moneycontrol
- Already holding around 4%, Bansal aims to raise his stake to roughly 6%, signaling stronger alignment with long-term investors.
🧭 Why Now?
- Buy-low opportunity: Secondary shares are available at 2019’s valuation—a rare chance to increase ownership before the IPO.
- Aligning interests ahead of listing: A higher personal stake ahead of the IPO demonstrates confidence in the company’s performance and may boost investor sentiment.
- Ongoing IPO preparations: Lenskart is set to file its Draft Red Herring Prospectus (DRHP) soon, in preparation for a $1 billion IPO at a $10 billion valuation.
🌟 Broader Context
- In FY24, Lenskart’s revenue rose to around ₹5,427 crore, though it recorded a modest loss of ₹10 crore.
- The company recently converted to a public limited entity and is preparing its IPO submission; bankers include Kotak, Axis, Citi, Morgan Stanley, and Avendus.
✅ Implications
- Confidence signal: The loan and share purchase reinforce Bansal’s commitment to Lenskart’s future growth.
- Market perception: Stake consolidation could be viewed positively by prospective IPO investors, showing insider belief despite lower valuation levels.
- Performance spotlight: Shares being bought at one‑tenth the target listing value suggests both caution and opportunity amid current market conditions.
