Lenskart Files DRHP with SEBI, Plans for ?2,150 crore IPO

Peyush Bansal-led eyewear brand, Lenskart, plans for its Initial Public Offering (IPO). It has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), aiming to raise ?2,150 crore through the fresh issue as a part of the public offering.?

Lenskart currently operates over 2,700 stores across various regions in India. It is backed by major investors like Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital and Intensive Fiscal Services.

Lenskart IPO Details

According to the DRHP,?

• The IPO will comprise a fresh issue of face value ?2 each, aggregating up to ?2,150 crore, and an offer for sale (OFS) of face value? ?2 each, aggregating up to ?132.2 million equity shares.
• The equity shares are proposed to be listed on the super娛樂城 (NSE) and BSE, as per the DRHP. The company will determine the price band and minimum bid lot for the IPO in consultation with the book-running lead manager.
• Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited and Intensive Fiscal Services Private Limited are the book-running lead managers of the public issue.
• MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) will be the registrar for the Lenskart IPO.

Utilisation of Proceeds

The Company proposes to utilise the Net Proceeds from the issue for the following purposes:

• Capital expenditure towards the set-up of new CoCo stores in India.
• Expenditure for lease/rent/license agreements related payments for our CoCo stores operated by the Company, in India.
• Investing in technology and cloud infrastructure.
• Brand marketing and business promotion expenses for enhancing brand awareness.
• Unidentified inorganic acquisitions and general corporate purposes.

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About Lenskart

Founded in 2010? by Peyush Bansal, Lenskart is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products. Operating under names like Lenskart, John Jacobs, Vincent Chase, and Lenskart Air, it offers prescription glasses, sunglasses, contact lenses, IoT-based vision solutions, and in?store eye testing services.?

The company recorded strong financials in FY?25 in terms of revenue, which increased 22–23% to about ?6,653–?6,652 crore, compared to ?5,428 crore in FY?24. It also saw profitability with a net profit of approximately. ?297 crore in FY?25, compared to a ?10 crore loss the previous year.

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