Image Source : Outlook Business
Lenskart Solutions Limited, India’s leading omnichannel eyewear brand, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking a major step toward its highly anticipated initial public offering. The IPO, expected to raise up to ₹8,500 crore, will include both a fresh issue and a significant offerforsale component, positioning Lenskart among the largest consumertech listings in India.
Key Highlights from Today’s Filing
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Fresh issue of shares worth ₹2,150 crore to fund expansion of companyowned stores across India
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Offerforsale of up to 132.3 million shares by existing investors
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Kotak Mahindra Capital, Morgan Stanley, Citigroup Global, Axis Capital, and Avendus Capital appointed as bookrunning lead managers
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Lenskart converted into a public limited company in May 2025 ahead of the IPO
IPO Structure and Objectives
The IPO comprises two major components:
Fresh Issue
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Valued at ₹2,150 crore
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Proceeds earmarked for setting up new companyowned, companyoperated (COCO) stores across India
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Funds will also support working capital needs and general corporate purposes
OfferforSale (OFS)
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Up to 132.3 million shares to be sold by existing investors
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Includes partial exits by early backers such as SoftBank, Chiratae Ventures, TR Capital, and Kedaara Capital
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Founder Peyush Bansal is reportedly acquiring a 1.5–2 percent stake worth ₹1,250 crore from existing investors ahead of the listing
Strategic Expansion Plans
Lenskart’s aggressive retail strategy is focused on deepening its footprint in Tier 2 and Tier 3 cities while strengthening its presence in metros. The company currently operates over 2,500 stores and plans to add 400 more in the next 18 months.
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Investment in AIdriven supply chain and virtual tryon technology continues to be a priority
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A new mega factory near Bengaluru is in the works, with land acquisition underway
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ESOP 2025 introduced, offering 72.8 lakh options to employees, including 21.84 lakh reserved for senior leadership
Financial Snapshot and Growth Trajectory
Lenskart has demonstrated strong revenue growth despite modest profitability:
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FY24 revenue: ₹5,427 crore, up 43 percent yearonyear
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EBITDA doubled to ₹856 crore
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Net loss narrowed to ₹10 crore from ₹63.7 crore in FY23
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FY25 revenue projected at ₹6,415 crore, with international markets contributing significantly
The company’s valuation is expected to touch ₹85,000 crore ($10 billion), nearly doubling from its last funding round led by Temasek and Fidelity in June 2024.
Governance and Leadership Moves
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CEO Peyush Bansal’s annual salary set at ₹6 crore; cofounders Amit Chaudhary and Neha Bansal to draw ₹3 crore each
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Two independent directors appointed: Sayali Karanjkar (PaySense) and Ashish Kashyap (INDwealth)
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Governance overhaul includes formalizing executive compensation and board structure ahead of listing
Why This IPO Matters
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Signals maturity of India’s consumertech sector and investor appetite for omnichannel retail models
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Transparent DRHP filing sets Lenskart apart from peers opting for confidential submissions
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Could pave the way for other profitable startups to enter public markets
Closing Thought
Lenskart’s IPO isn’t just a capitalraising event—it’s a strategic inflection point. With a robust retail network, techdriven operations, and a clear roadmap for expansion, the company is positioning itself as a global eyewear powerhouse. As the IPO gears up, all eyes are on how Lenskart balances scale with profitability and investor expectations.
Sources: News18, Moneycontrol, Outlook Business, BestMediaInfo
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