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Lenskart IPO in motion: Eyewear giant files draft papers with Sebi; eyes Rs 2,150 crore in fresh funding

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Lenskart, an omnichannel eyewear retailer, has submitted a DRHP for its IPO, aiming to raise Rs 2,150 crore in fresh capital.The offering includes an OFS component of 132.2 million shares from investors including SoftBank, Kedaara Capital, Temasek, and Alpha Wave Global, as reported by Economic Times. Additionally, founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will sell 31.8 million shares.AN ET source, requesting anonymity, indicated the company aims for a Rs 70,000-75,000 crore ($8-9 billion) valuation, subject to market conditions at listing.This represents the largest IPO among contemporary companies this year. Whilst Groww, Meesho, and PhysicsWallah are preparing significant listings, they have chosen Sebi’s confidential filing process.The fresh capital allocation includes Rs 272 crore for new Indian stores and Rs 591 crore for existing store expenses. Lenskart currently operates over 2,700 stores across various regions.The IPO’s merchant bankers include Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital and Intensive Fiscal Services.In FY25, Lenskart achieved profitability with Rs 297 crore net profit, compared to Rs 10 crore loss in FY24. The company’s FY25 revenue grew 22% to Rs 6,625 crore from Rs 5,428 crore in FY24. Comparatively, Titan EyeCare reported 10% revenue growth at Rs 796 crore in FY25.International markets, including Taiwan, Australia, Japan, South Korea, Thailand and the Middle East, contributed over 40% of Lenskart’s FY25 revenue.The company’s standalone international revenue reached Rs 2,638 crore in FY25, showing 17% growth from Rs 2,265 crore in FY24.

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