Lenskart, an eyewear retailer, reportedly secured approval from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), and is now aiming for a mid-November listing.
The IPO is expected to raise Rs 2,150 crore in fresh capital, while the total issue size—including an offer-for-sale (OFS) component is projected to be in the Rs 7,500 to 8,000 crore range.
Founders Peyush Bansal, Neha Bansal, Sumeet Kapahi, Amit Chaudhary, along with major existing investors such as SoftBank, Temasek, Premji Invest, Kedaara Capital, and Alpha Wave Global, are preparing to offload a portion of their holdings via secondary sales.
Lenskart has entered profitability in FY 2025, with a net profit of Rs 297 crore, reversing from a loss of Rs 10 crore in FY 2024.
Its revenues grew by about 22 per cent to Rs 6,625 crore, from Rs 5,428 crore in the previous year.
The company plans to deploy about Rs 272 crore of the new funds toward expanding its retail footprint, while Rs 591 crore will be allocated to lease, rental, and operational maintenance of its existing network of over 2,700 stores. An undisclosed portion is reserved for strategic acquisitions.
Lenskart has engaged Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital, and Intensive Fiscal Services as its merchant bankers.
The proposed IPO ranks among the largest from new-age firms this year, trailing only behind heavyweight offerings from entities like Tata Capital and LG Electronics.
As India’s broader tech-driven firms such as Meesho, Groww, PhonePe and PhysicsWallah are also ready IPOs, Lenskart’s public listing is poised to be a marquee event, reinforcing investor confidence in India’s consumer and ecommerce ecosystem. |
