Eyewear retailer Lenskart has received approval from the Securities and Exchange Board of India (Sebi) for its much-anticipated initial public offering (IPO), sources confirmed. The Gurugram-based company plans to file its updated prospectus in the coming weeks and is eyeing a mid-November listing.
Key Highlights
- Lenskart secures Sebi approval for ₹8,000 crore IPO, targeting a mid-November stock market listing.
- IPO proceeds to fund new stores, lease expenses, acquisitions; FY25 profit hits ₹297 crore milestone.
The IPO includes a fresh issue of ₹2,150 crore and an offer-for-sale (OFS) of around 132.3 million shares from existing shareholders, including founders Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary, alongside investors such as SoftBank, Premji Invest, Temasek, Kedaara Capital, and Alpha Wave Global. The overall IPO size is estimated at ₹7,500–8,000 crore ($850–900 million), positioning it among the largest public offerings of 2025.
Merchant bankers Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital, and Intensive Fiscal Services are managing the issue.
Also Read: Groww Set to Rival Angel One with $8 Bn IPO Move
Lenskart, which reported a net profit of ₹297 crore in FY25 compared to a ₹10 crore loss in FY24, also saw revenues grow 22% to ₹6,625 crore. The company plans to allocate ₹272 crore from IPO proceeds to expand its retail footprint, and ₹591 crore for leasing and operational costs of its 2,700+ stores, while also setting aside funds for acquisitions.
The company, winner of the ET Startup Awards 2024 – Startup of the Year, leads the line-up of new-age firms planning listings this year, alongside Groww, Meesho, PhonePe, and PhysicsWallah.
