This businessman to buy company shares at a valuation of Rs 75000000000, a tenth of its targeted IPO valuation…, his name is…, name of company is…

In 2010, there was a revolution in the eyewear segment industry when a former Microsoft employee started a company with funky and go-to frames to wear. In January 2015, the company raised ₹135 crore. It was valued at over $1 billion in December 2019.

The company is none other than Lenskart and its co-founder and chief executive officer is c who secured $200 million from Temasek and Fidelity in a secondary deal.

Peyush Bansal is in talks with…

According to latest reports, Peyush Bansal is in talks to secure a loan of Rs 200 crore and use the proceeds to increase his stake in the company. Nearly all of Lenskart’s investors, including SoftBank, Chiratae, TR Capital and others, are selling some shares in the company to Bansal.

Bansal, who already owns around 4 percent in Lenskart, is looking to increase his stake in the company by another 2 percentage points, through the loan he is taking out, and take his total ownership to about 6 percent by buying shares from investors.

Is Lenskart in losses?

Lenskart, which is aiming to file its draft red herring prospectus (DRHP) in the coming weeks, is preparing to raise $1 billion through an IPO at a valuation of $10 billion. Kotak, Axis Capital, Citi, Morgan Stanley and Avendus are the bankers for the issue.

While Lenskart was profitable in the past, it has been incurring losses in recent years as it expands operations. In FY24, the company recorded a loss of Rs 10 crore on the back of Rs 5,427-crore revenues, filings showed.

News