SBI Mutual Fund invests Rs 100 crore in Lenskart at $7.7 billion valuation ahead of IPO

SBI Fund Management Strengthens Pre-IPO Portfolio with Rs 100 Crore Investment in Lenskart.

Expert Analysis:

• Strategic Investment Move: SBI Mutual Fund has invested Rs 100 crore in Lenskart Solutions Limited ahead of its IPO, marking a strong pre-IPO entry at an implied valuation of $7.7 billion.

• Transaction Details: The investment was made via SBI Optimal Equity Fund and SBI Emergent Fund, which jointly acquired 24.87 lakh shares from promoter Neha Bansal at Rs 402 per share, with a total transaction value of Rs 100 crore, as per company filings.

• IPO Highlights: Lenskart plans to raise Rs 2,150 crore through a fresh issue and an OFS of up to 12.76 crore shares between October 30 and November 4.

• Financial Performance: Lenskart reported a net profit of Rs 297 crore in FY25, reversing a Rs 10 crore loss in FY24, with revenues rising 23 percent year-on-year to Rs 6,652 crore. Q1 FY26 profit was Rs 61.2 crore on revenue of Rs 1,894.5 crore, with EBITDA climbing to Rs 336.6 crore from Rs 183.4 crore.

• Investor Relevance: This pre-IPO entry positions SBI MF for potential listing gains and exposure to one of India’s fastest-growing consumer internet companies. The valuation jump from $6.1 billion to $7.7 billion reinforces strong investor sentiment.