SBI Invests Rs 100 Crore in Lenskart Pre-IPO Boost
SBI Mutual Fund invested Rs 100 crore in Lenskart Solutions ahead of its IPO. This funding, including earlier investments by Radhakishan Damani, comes as Lenskart prepares for a Rs 7,278 crore share-sale on October 31. The offering aims to fund store expansions, tech investments, and brand marketing.
- Country:
- India
SBI Mutual Fund has invested Rs 100 crore in Lenskart Solutions as part of a pre-IPO funding round, enhancing the eyewear retailer's financial strength. In this transaction, Neha Bansal transferred a considerable portion of shares to two SBI funds at Rs 402 apiece.
This investment trails an Rs 90 crore infusion by Avenue Supermarts founder Radhakishan Damani, who acquired shares from Nehal Bansal last week. The pre-IPO deals precede Lenskart's much-anticipated Rs 7,278 crore initial public offering set for late October.
Lenskart, a key player in the eyewear industry, plans to use the IPO proceeds to expand its store network, invest in technology, and boost brand recognition, reflecting its robust growth strategy in the competitive market landscape.
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