India, July 5 -- Omnichannel eyewear retailer Lenskart's cofounder and chief executive Peyush Bansal is reportedly looking to buy back 1.5% to 2% stake in the company from its existing investors at around $150 Mn (more than INR 1,280 Cr).

Citing sources, Mint reported that the stake is likely to be acquired at a valuation of $7 Bn to $8 Bn.

Existing investors TR Capital, SoftBank, Chiratae Ventures and Kedaara Capital are expected to sell their shares.

Negotiations are ongoing and the transaction is expected to close within four to six weeks, following which the company will file its draft IPO papers with markets regulator SEBI, the report added.

A mail sent to Bansal with queries on the development didn't elicit any response till the...