Sebi approves eyewear retailer Lenskart IPO to raise ₹2,150 crore: Report

Lenskart has received Sebi's approval for a ₹2,150 crore IPO, comprising fresh shares and existing investor stake sales to fund store expansion, technology upgrades, and marketing

The Securities and Exchange Board of India (Sebi) has greenlit eyewear retailer Lenskart’s draft red herring prospectus (DRHP) for an initial public offering (IPO), Moneycontrol reported on Friday, citing sources.

 

The IPO looks to raise ₹2,150 crore through fresh issuance of shares, with current investors and company founders subsequently selling up to 132.3 million existing shares.

 

Shareholders set to divest their holdings include Lenskart co-founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with investors such as SoftBank’s SVF II Lightbulb (Cayman) Limited, Schroders Capital Private Equity Asia Mauritius Limited, PI Opportunities Fund-II, Macritchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP.

 

 

Earlier this year, a source told Business Standard that Bansal, who plans to offload over 20 million shares, could earn up to ₹700 crore from the offering, while other major investors likely to see significant returns include Kedaara, Chiratae Ventures, Ronnie Screwvala’s Unilazer Ventures, and KKR. 

 

The draft prospectus filed in July 2025 stated that the company intends to deploy ₹272.6 crore from the net fresh issue proceeds to launch new CoCo (company-owned, company-operated) stores across India, and ₹591.4 crore toward lease, rent, and license expenses. Lenskart started out as an online-only eyewear retailer, but gradually moved into the brick-and-mortar retail space with branded showrooms across the country.

 

Additionally, ₹213.4 crore is earmarked for technology and cloud infrastructure, while ₹320 crore will fund brand marketing and promotional activities. The remaining proceeds are expected to support inorganic acquisitions and general corporate purposes.

 

Lenskart's financial performance

 

Gurugram-based Lenskart's revenue from operations rose 22.5 per cent to ₹6,652.5 crore in the financial year 2025 (FY25) from ₹5,427.7 crore in the previous year. The company posted a net profit of ₹297.34 crore, compared with a net loss of ₹10.15 crore in FY24. Its earnings before interest, tax, depreciation and amortisation (Ebitda), excluding other income, reached ₹971 crore, up 44.5 per cent from ₹672 crore a year earlier.