Mumbai: Integrated eyewear brand Lenskart has received approval from the Securities and Exchange Board of India (SEBI) to raise Rs.2,150 crore through an IPO. According to the DRHP filed, the company aims to list on the bourses by November 2025, making this one of the most anticipated IPOs this year.
The company will issue fresh equity shares worth Rs. 2,150 crore, along with an Offer For Sale (OFS) worth 13.2 crore shares led by marquee investors like Temasek, SoftBank, Premji INvest and Alpha Wave. Co-founder Peyush Bansal is also looking to sell 2.05 crore shares in the IPO.
Currently, SoftBank is the largest external investor in the company with a 15.04% stake with the Abu Dhabi Investment Authority coming next with a 12.45% stake.
The company has, over the years, raised over $1.08 billion through multiple rounds, as per startup data intelligence platform TheKredible.
The company took a decade to attain profitability in 2020, despite revenues increasing over time. Currently, revenues stand at Rs.6,653 crores with a profit of Rs.297 crore in FY25.
Rumours of an impending IPO were doing the rounds for quite some time, with investors’ interest reaching its height with the company’s acquisition of Spanish brand Meller for €40 million.
Unlike other e-commerce platforms like Zomato and Swiggy, Lenskart runs on a hybrid omnichannel model, and has moved beyond retailing to actually manufacturing its optical solutions. This has helped it undercut its rivals, and disrupt the highly fragmented market.
With the funds, the company aims to further expand its reach, with Rs.591 crore earmarked for operational expenses for its 2,700 plus stores. The company has also hinted at using the funds for acquiring more companies, even as it remains perhaps the only customer-facing startup that derives almost 40% of its revenues from abroad.
