Lenskart Prepares ₹2,150 Crore IPO as DRHP Hits SEBI Platform: Key Details Inside
- 29th July 2025
- 12:30:00 AM
- 3 min read
Mumbai | July 29 – Peyush Bansal-led Lenskart has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹2,150 crore through an initial public offering (IPO). The proposed IPO includes a fresh issue of equity shares worth ₹2,150 crore, along with an offer for sale (OFS) of 132.28 million shares by existing shareholders.
The OFS will see partial exits by a number of early investors and co-founders. According to the DRHP, the selling shareholders include Peyush Bansal, Neha Bansal, Amit Chaudhary, Sumeet Kapahi, SoftBank’s SVF II Lightbulb (Cayman) Ltd, Alpha Wave Ventures, Kedaara Capital, MacRitchie Investments, and others. The filing is part of the company’s plan to list on Indian exchanges in the coming months, subject to regulatory approvals and market conditions.
Kotak Mahindra Capital, Axis Capital, Avendus Capital, Morgan Stanley, and Citigroup Global Markets India have been appointed as book-running lead managers to the issue. MUFG Intime India has been appointed as the registrar.
As per the DRHP, Lenskart intends to use the net proceeds from the fresh issue for a range of objectives. These include setting up new company-owned and company-operated (CoCo) stores, lease-related payments, investment in technology and cloud infrastructure, brand marketing and business promotion, potential inorganic acquisitions, and general corporate purposes.
The DRHP also confirms that the company became a public limited company on May 30, 2025, by passing a resolution at an extraordinary general meeting. Its name was changed from Lenskart Solutions Private Limited to Lenskart Solutions Limited to comply with listing regulations.
Founded in 2010, Lenskart has emerged as one of India’s largest omnichannel eyewear retailers, selling prescription glasses, sunglasses, and contact lenses across digital and offline platforms. The company operates over 2,500 retail stores across India, the UAE, and Singapore. It has raised over $1.08 billion across 19 funding rounds, with backers including TPG, Chiratae Ventures, SoftBank, and Temasek.
According to its financial disclosures in the DRHP, Lenskart turned profitable in FY25, reporting a net profit of ₹297 crore, compared to a net loss of ₹10 crore in FY24. Its operating revenue rose to ₹6,652 crore in FY25 from ₹5,427 crore in the previous year, reflecting strong growth in both domestic and international operations.
The company has also undertaken supply chain optimisation by relocating much of its global manufacturing to India, particularly to its facility in Rajasthan, reducing costs and increasing operational efficiency.
Lenskart’s IPO comes amid a resurgence of Indian tech-led companies eyeing public markets. The DRHP filing puts Lenskart in the league of other startups such as Pine Labs, Groww, Shiprocket, Curefoods, and Capillary Technologies, which have either filed or are preparing to file IPO papers. As reported earlier, Lenskart has opted for a direct DRHP filing route with SEBI, instead of the confidential filing mechanism adopted by some of its peers.
With strong revenue growth, profitability, and a pan-India retail presence, Lenskart’s public issue is expected to draw significant investor attention. The company is reportedly aiming for a valuation of $8–9 billion, though the final size and pricing of the IPO will depend on market feedback and regulatory clearance.
PL Capital
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
