Lenskart Solutions, the SoftBank-backed omnichannel eyewear brand, has filed its draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).The offer comprises a fresh issue of equity shares aggregating up to ₹2,150 crore and an offer-for-sale component of up to 13.22 crore equity shares.
Under the OFS, existing shareholders such as Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will offload their stake. Promoter selling shareholders and investor selling shareholders include SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia (Mauritius), PI Opportunities Fund – II, MacRitchie Investments, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP.
Lenskart may consider a pre-IPO placement aggregating to ₹430 crore prior to filing of the RHP. If undertaken, the fresh issue size will be reduced.
Net proceeds from the IPO will be used for various strategic initiatives, including capital expenditure for setting up new company-operated company-owned (CoCo) stores in India. A portion of the funds will also go towards payments related to lease, rent, and license agreements for these CoCo stores.Additionally, the company plans to invest in technology and cloud infrastructure, brand marketing, and business promotion to enhance brand awareness. The proceeds may also be used for potential unidentified inorganic acquisitions and general corporate purposes.
Under the OFS, existing shareholders such as Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will offload their stake. Promoter selling shareholders and investor selling shareholders include SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia (Mauritius), PI Opportunities Fund – II, MacRitchie Investments, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP.
Lenskart may consider a pre-IPO placement aggregating to ₹430 crore prior to filing of the RHP. If undertaken, the fresh issue size will be reduced.
Net proceeds from the IPO will be used for various strategic initiatives, including capital expenditure for setting up new company-operated company-owned (CoCo) stores in India. A portion of the funds will also go towards payments related to lease, rent, and license agreements for these CoCo stores.Additionally, the company plans to invest in technology and cloud infrastructure, brand marketing, and business promotion to enhance brand awareness. The proceeds may also be used for potential unidentified inorganic acquisitions and general corporate purposes.
Lenskart is reportedly aiming for a valuation of over $8 billion.
Lenskart is touted to be India’s largest, and in Asia, are amongst the two largest, organised retailers of prescription eyeglasses in terms of B2C eyeglasses sales volumes during the financial year 2025, according to the Redseer Report.
Unlike several other new-age companies that opted for confidential filings, Lenskart’s DRHP is publicly available.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, Intensive Fiscal Services are the book running lead managers to the issue.
