New Delhi: Lenskart Solutions Ltd, an omni-channel eyewear retailer, has filed preliminary papers with capital markets regulator SEBI seeking its approval to raise funds through an initial public offering (IPO).
The Gurugram-based company’s IPO involves raising Rs 2,150 crore through fresh issuance of equity shares. Besides, promoters and investors would offload 13.22 crore equity shares, according to the draft red herring prospectus (DRHP) filed Monday.
As a part of the OFS, promoters — Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi; investors — SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund – II, Macritchie Investments Pte Ltd, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP — would offload shares.
Lenskart proposes to utilise the proceeds from the IPO for various strategic initiatives, including Rs 272.6 crore capital expenditure for setting up new Company-operated Company-owned (CoCo) stores in India and Rs 591.44 crore for payments related to lease, rent, and license agreements for these CoCo stores.
Additionally, Rs 213.37 crore will be used for investments in technology and cloud infrastructure; Rs 320 crore for brand marketing and business promotion for enhancing brand awareness and the remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes.
Also, the company may consider a pre-IPO placement aggregating to Rs 430 crore. If such a placement is undertaken, the fresh issue size will be reduced accordingly.
Founded in 2008, Lenskart commenced operations in India as an online business in 2010 and opened its first retail store in New Delhi in 2013. The company’s business spans across designing, manufacturing, branding and retailing.
Lenskart is India’s largest organised retailer of prescription eyeglasses in terms of B2C eyeglasses sales volumes during financial year 2025, according to the Redseer Report.
It has a strong presence across metro, Tier 1 and Tier 2 cities and international operations in Southeast Asia and the Middle East.
Lenskart operates business through 2,723 stores globally, comprising 2,067 stores in India and 656 stores internationally. Its mobile applications had over 100 million cumulative app downloads as of March 2025.
The company has manufacturing facilities at two locations in India – in Bhiwadi, Rajasthan and Gurugram, Haryana – supplemented by regional facilities in Singapore and the United Arab Emirates.
It targets different customer categories through a portfolio of brands and sub-brands that include premium collections through John Jacobs and Owndays (acquired in 2022), and economy and affordable premium collections through Lenskart Air, Vincent Chase, hustlr, and Hooper Kids.
On the financial front, Lenskart turned profitable in FY25 with a net profit of Rs 297.3 crore after posting a loss of Rs 10.15 crore in FY24.
It reported an EBITDA (earnings before interest, taxes, depreciation and amortisation) or operating profit of Rs 1,115 crore, an increase from Rs 763 crore a year earlier.
The company clocked revenues of Rs 6,652 crore in FY25, an increase from Rs 5,428 crore in the preceding fiscal.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services have been appointed to manage the maiden public issue.
PTI
