Lenskart IPO Approved: Inside Peyush Bansal’s ₹2,150-Crore Public Issue Backed by SoftBank and Temasek

Mumbai | October 6 – Eyewear major Lenskart has received approval from the Securities and Exchange Board of India (SEBI) for its much-awaited initial public offering (IPO), paving the way for one of India’s most prominent startup listings of the year. The company plans to raise ₹2,150 crore through a fresh issue, alongside a secondary sale by existing shareholders and promoters.

Lenskart IPO Structure: Key Details on Fresh Issue and OFS Breakdown

The ₹15,511.87 crore IPO comprises:

• A fresh issue of equity shares worth ₹2,150 crore, and
• An offer for sale (OFS) of 13.2 crore shares by promoters and early investors.

The OFS will include stakes offloaded by key shareholders such as SoftBank Vision Fund II, Alpha Wave Ventures, Temasek affiliates, Premji Invest, and Kedaara Capital.

Among the promoters, Co-founder and CEO Peyush Bansal is set to sell around two crore shares, while fellow promoters Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will dilute smaller portions of their holdings.

At present, promoters collectively hold 19.96 per cent in Lenskart, with institutional and private equity investors together owning about 80 per cent of the company.

Lenskart Financials FY25: Strong Profit Rebound Ahead of Market Debut

Lenskart’s SEBI clearance comes on the back of a robust financial turnaround. For the financial year FY25, the company reported a net profit of ₹297.3 crore, a sharp recovery from a loss of ₹10.2 crore in FY24.

Revenue rose 23 per cent year-on-year to ₹6,652.5 crore, while the company achieved a compound annual growth rate of 33 per cent over the last two years. Gross margins improved by over 500 basis points, reaching around 69 per cent, supported by operational efficiencies, technology integration, and scale.

How Lenskart Plans to Use IPO Proceeds for Expansion and Innovation

Proceeds from the fresh issue will be deployed to strengthen Lenskart’s Tier-1 capital base, support working capital requirements, and fund future expansion across domestic and international markets.

The company intends to enhance automation, expand its manufacturing and assembly facilities, and build additional retail stores in India. It is also focusing on expanding its presence in the Middle East, Southeast Asia, and the United States, strengthening its position as a global eyewear brand.

Lenskart’s Business Model: From Eyewear Startup to Global Market Leader

Founded in 2008 by Peyush Bansal, Lenskart pioneered India’s omnichannel eyewear retail model, blending online convenience with in-store experience.

The company now operates over 2,000 stores across 10 countries, supported by a large online platform, data-driven logistics, and in-house manufacturing. Its integrated model — covering design, production, and delivery — enables cost efficiency, faster turnaround, and consistent quality.

Lenskart has built a strong brand presence across urban and emerging markets, offering products that cater to diverse customer needs. The company commands an estimated 35 per cent share of India’s organised eyewear market and holds a valuation of over $5 billion in private markets.

It is backed by leading global investors including SoftBank, Temasek, TPG, Alpha Wave, KKR, ADIA, and Kedaara Capital.

Lenskart IPO Approval: Boost for India’s Startup IPO Pipeline

The SEBI approval marks a significant step in Lenskart’s journey from a technology-driven startup to a profitable consumer brand. It also reflects renewed investor confidence in India’s startup IPO landscape, which is witnessing increased activity amid strong domestic liquidity.

Lenskart now joins other new-age Indian companies preparing to go public, such as Meesho, Groww, and PhysicsWallah, signalling a steady revival of the country’s public-market pipeline for technology-led businesses.

Bottom Line: Lenskart IPO to Join India’s Most Anticipated Tech Listings

With SEBI’s clearance secured, Lenskart is now preparing to announce its IPO timeline, price band, and anchor investor allocation. The public issue will further strengthen the company’s balance sheet and enhance visibility among global investors.

Lenskart’s move to the public markets represents not just a capital-raising milestone, but also a symbol of the growing maturity of India’s startup ecosystem — where home-grown brands are evolving into profitable, globally recognised enterprises.

With inputs from Moneycontrol.

 

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