Apart from the fresh issue, there would be an offer-for-sale (OFS) component, according to an updated prospectus released Saturday.
The Gurgaon-based company is issuing fresh shares worth ₹2,150 crore in the offering, while existing investors including its founders, SoftBank and Temasek are selling about 12.8 crore equity shares.Proceeds from the issue will be used for various strategic initiatives, including capital expenditure for setting up new company-operated, company-owned (CoCo) stores in India; payments related to lease, rent, and license agreements for these CoCo stores; investments in technology and cloud infrastructure; brand marketing and business promotion to enhance brand awareness; potential unidentified inorganic acquisitions; and general corporate purposes.
The public issue follows a ₹90 crore pre-IPO funding round from billionaire investor Radhakishan Damani, founder of Avenue Supermarts (DMart).
Lenskart is operating in a market projected to grow at a double-digit pace over the next five years. Its promoters include Japan’s SoftBank, Mumbai-based private equity firm Kedaara Capital Advisors and Singapore state investor Temasek.Promoters’ shareholding in the company stood at 19.85% at the time of filing of RHP, while public shareholders held 79.72% stake, and the remaining 0.43% shares are owned by employee trusts.
The company, which started operations in 2010 as an online business, was valued at $6.1 billion as of September 10, according to data from Tracxn.
The company has a presence across metro, Tier-1, and Tier-2 cities, as well as international operations in Southeast Asia and the Middle East. Lenskart operates 2,067 stores in India and 656 overseas.
In FY25, Lenskart posted a net profit of ₹297 crore, marking a sharp turnaround from a loss of ₹10 crore in FY24. The company’s revenue surged 22% year-on-year to ₹6,625 crore, driven by rising domestic demand and expanding international operations.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are acting as the book-running lead managers for the Lenskart Solutions IPO.
The allotment for the Lenskart Solutions IPO is expected to be finalised on November 6 and the company will make its debut on the stock exchanges on November 10.
Also Watch | Peyush Bansal, CMD & CEO of Lens cardand Abhishek Gupta, CFO, discuss the company’s IPO and growth plans post-listing in an interview with CNBC-TV18
