In the IPO, entrepreneur Peyush Bansal is selling 2.05 crore shares. At the upper price band of Rs 402, his total payout stands at Rs 823.66 crore. The average cost of acquisition for him is just Rs 18.6 per share, which translates into a return of 2,061% on his capital investment.
His sister and the company’s co-founder, Neha Bansal, is also offloading about 10.1 lakh shares for a payout of Rs 40.62 crore. Her average cost of acquisition was even lower at Rs 7.60 per share, giving her a return of 5,189%.
Neha’s post-IPO stake in Lenskart will fall to 7.17% from 7.16%.
Besides the Bansal siblings, other promoters Amit Chaudhary and Sumeet Kapahi are selling about 28.7 lakh shares each in the IPO. Both of them own small stakes of about 0.8% in the company.
PE and VC funds will also see multibagger returns in the much-awaited IPO. SoftBank-backed SVF II Lightbulb (Cayman), which holds 25.35 crore shares at an average acquisition price of Rs 74.26 per share, will see a 422% return. It is selling 2.55 crore shares in the IPO.PI Opportunities Fund will see a gain of 1,560% as it bought shares at just Rs 24.14 and will make a profit of more than 1,560%.Other selling shareholders include Schroders Capital, Kedaara Capital, Temasek’s MacRitchie Investments, and Alpha Wave.
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Lenskart IPO details
The total issue size is estimated at around Rs 7,278 crore, comprising a fresh issue of Rs 2,150 crore and an offer for sale (OFS) of up to 12.75 crore shares by promoters and existing investors, amounting to about Rs 5,128 crore at the upper end of the price band.
Just ahead of the IPO, billionaire investor Radhakishan Damani had invested around Rs 90 crore in the firm at Rs 402 per share, which is also the upper price band of the IPO.
Also Read | Lenskart IPO price band set at Rs 382–402 per share; check issue size, key dates, other details