Lenskart files DRHP for IPO, aims to raise ₹2,150-cr; check key details

Peyush Bansal-led Lenskart Solutions plans to raise ₹2,150 crore through a fresh issue of shares as part of the offering

Lenkart IPO: Lenskart Solutions, an omnichannel eyewear retailer, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its maiden public issue. The company plans to raise ₹2,150 crore through a fresh issue of shares as part of the offering. The issue also comprises an offer for sale (OFS) of 132.2 million equity shares. 

 

According to the DRHP, Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi are the promoter selling shareholders. SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia Mauritius, PI Opportunities Fund - II, Macritchie Investments, Kedaara Capital Fund II, and Alpha Wave Ventures are the investors selling shareholders. 

 

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MUFG Intime India, formerly Link Intime, is the registrar of the issue. Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are the book-running lead managers. 

 

According to the DRHP, the company proposes to utilise ₹272.6 crore from the net fresh issue proceeds to set up new CoCo stores in India and ₹591.4 crore for lease/rent/license agreements related payments for our CoCo stores in India. In addition, ₹213.37 crore for investing in technology and cloud infrastructure, and ₹320 crore for Brand marketing and business promotion expenses for enhancing brand awareness. The remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes.  Check: Brigade Hotel Ventures IPO allotment Status

About Lenskart Solutions

Lenskart Solutions is an eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products. It primarily sells prescription eyeglasses, sunglasses, and other products such as contact lenses and eyewear accessories. While India is the largest market for the company, it has expanded into select international markets including Japan, Southeast Asia and the Middle East. 

Lenskart Solutions financial snapshot

In the financial year 2024-25 (FY25), Lenskart reported a revenue from operations of ₹6,652.5 crore, up 22.5 per cent from ₹5,427.7 crore in the previous fiscal. The company reported a net profit of ₹297.34 crore against a net loss of ₹10.15 crore in FY24.  The company's earnings before interest, tax, depreciation and amortisation (Ebitda), excluding other income, stood at ₹971 crore, up 44.5 per cent from ₹672 crore in the FY24.