PI Opportunities Fund–II, which owns 5.13% of Lenskart’s pre-offer equity capital on a fully diluted basis, is offloading up to 87 lakh shares in the upcoming offer for sale. The fund, controlled by Premji Invest Ltd, the private equity and venture capital arm of the Premji Foundation ultimately led by billionaire philanthropist Azim Premji, had originally spent just about Rs 21 crore to acquire the stake.
At the upper price band of Rs 402 per share, the fund’s total proceeds from the sale will reach nearly Rs 350 crore. The fund is managed by PI Investment Advisory LLP, acting as a delegate of trustee Hasham Premji Private Ltd, and is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund.
Lenskart IPO to deliver big paydays across the board
PI Opportunities Fund is not the only one reaping rewards from Lenskart’s long-awaited IPO. Founder and CEO Peyush Bansal, known for his appearance on Shark Tank India, will book gains of around 2,061% on his investment by selling 2.05 crore shares worth Rs 824 crore. His sister and co-founder Neha Bansal will earn Rs 40.62 crore by selling 10.1 lakh shares, fetching a 5,189% return.
Other key promoters, including Amit Chaudhary and Sumeet Kapahi, are also offloading about 28.7 lakh shares each in the offer. Among institutional investors, SoftBank’s SVF II Lightbulb (Cayman) will see a 422% return, while other sellers include Temasek’s MacRitchie Investments, Kedaara Capital, Schroders Capital, and Alpha Wave Ventures.
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A blockbuster IPO on Dalal Street?
Lenskart’s IPO, opening October 31 and closing November 4, aims to raise around Rs 7,278 crore, including a fresh issue of Rs 2,150 crore and an offer for sale worth Rs 5,128 crore at the upper price band. The issue, one of 2025’s largest, follows a Rs 90 crore pre-IPO investment from DMart founder Radhakishan Damani at the same valuation.
Founded in 2008, Lenskart has grown into a dominant omnichannel eyewear brand with over 2,500 stores across India, the Middle East, and Southeast Asia. It reported a net profit of Rs 297 crore in FY25 on revenue of Rs 6,625 crore, marking a turnaround from a Rs 10 crore loss in FY24.
As the company prepares for its Dalal Street debut, early backers like Premji Invest are poised to book one of the biggest venture capital paydays of the year.
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