Source: Entrackr
Gurugram, Eyewear brand Lenskart has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for the purpose of an Initial Public Offering (IPO). The company plans to raise ₹2,150 crore via a fresh issue of shares and up to 13.2 crore shares from the sale by existing investors and founders through an Offer for Sale (OFS).
High-Value Investors to Sell Shares
Several high-value investors have decided they will sell portions of their holdings in the IPO. These include:
- SoftBank – 2.55 million shares
- Schroders Capital – 1.91 million shares
- PI Opportunities Fund – 87 lakh shares
- Temasek – 7.85 million shares
- Kedaara Capital – 78. 5 lakh shares
- Alpha Wave – 66. 6 lakh shares
SoftBank is the primary external investor with a 15.04% stake, while Abu Dhabi Investment Authority (12.45%), PI Opportunities Fund (5.13%) and Temasek (4.86%) are also key external shareholders.
Founders Also Selling
Lenskart’s co-founders and early team members will also be selling some of their shares:
- Peyush Bansal (CEO & Co-founder) – 2.05 crore shares
- Neha Bansal (Co-founder) – 57.3 lakh shares
- Amit Chaudhary (Co-founder) – 28.6 lakh shares
- Sumeet Kapahi (Early team member) – 28.6 lakh shares
- Peyush Bansal and Neha Bansal currently own 10.28% and 7.74% of the company respectively.
Utilization of Funds
The proceeds from the new issue will be allocated toward:
- Opening new company-owned stores in India
- Paying lease and rent for the new stores
- Payment for technology and cloud costs
- Advertising and promotions
- Other general corporate purposes
Business Reach
As of March 31, 2025, Lenskart has 2,723 stores worldwide, 2,067 in India and 656 in other countries. As per the Redseer Report, the average price of frames and lenses sold by Lenskart in India during the financial year 2025 was 35–40% less than the industry average.
Strong Financial Development
Lenskart’s financial performance has shown progress:
- FY25 revenue: ₹6,652 crores (FY24 revenue: ₹5,428 crores)
- FY25 net profit before taxes: ₹297 crores (FY24: loss of ₹10 crores)
This positive transition to profit earnings increases its likelihood of accomplishing a successful “public floated company”:
IPO Management and Listing Preparation
Lenskart became a Limited company in June 2025 in preparation for a public listing. Lenskart IPO is managed by the:
- Kotak Mahindra Capital.
- Citigroup.
- Avendus Capital.
- Axis Capital.
- Morgan Stanley.
- Intense Fiscal Services
Conclusion: We expect Lenskart’s IPO to be one of the largest listings in the consumer-tech space, and high interest from retail and institutional investors based on a strong growth story and large investor backing with plans to scale growth further.
