Eyewear retailer Lenskart has secured approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). According to the draft red herring prospectus, the issue will comprise a fresh equity issue of Rs 2,150 crore along with an offer for sale (OFS) of up to 132 million shares by existing investors and promoters.
According to media reports, the OFS will see participation from major shareholders, including SoftBank-backed SVF II, Alpha Wave Ventures, Temasek affiliates, Premji Invest, and Kedaara Capital. Founder Peyush Bansal will sell 20 million shares, while co-founders Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will offload smaller portions of their stakes.
Promoters currently hold about 19 per cent of the company, with institutional and other investors owning close to 80 per cent. The proceeds from the fresh issue will be directed towards business expansion, according to media reports.
For FY25, Lenskart reported a net profit of Rs 297.3 crore, a sharp turnaround from a net loss of Rs 10.2 crore in FY24. |
