Lenskart Files Draft Papers With SEBI For INR 2,150 Cr IPO

lenskart, the omnichannel eyewear retailer, has filed its draft red herring prospectus (DRHP) with SEBI, moving closer to its IPO expected later this year.

It aims to raise ₹2,150 crore in fresh capital, while existing investors plan to sell 132.28 million shares via an offer for sale (OFS).

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Prominent shareholders selling in the IPO include founders Peyush and Neha Bansal, Amit Chaudhary, Sumeet Kapahi, as well as investors like SoftBank, Kedaara Capital, Alpha Wave Ventures, and MacRitchie Investments.

Lenskart is aiming for a valuation of $8–9 billion and has appointed Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital as lead managers for the issue.

Lenskart plans to deploy the IPO proceeds towards capital expenditure for setting up new company-owned and company-operated (CoCo) stores in India, lease-related payments for CoCo locations, investments in technology and cloud infrastructure, brand marketing and business promotion, potential inorganic acquisitions and general corporate purposes.

Lenskart joins a rising wave of Indian startups gearing up for public listings. Others that have recently filed draft IPO papers include Pine Labs, Curefoods, Capillary Technologies, Shiprocket, groww, and Urban Company. Meanwhile, PhysicsWallah and bluestone are also expected to follow suit soon.

About Lenskart 

Founded in 2010 by Peyush Bansal, along with Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart has raised $1.08 billion through 19 funding rounds, with key investors like TPG and Chiratae Ventures. 

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It offers eyewear across India, Singapore, and the UAE.To reduce costs, it shifted most frame production from Japan to Rajasthan. With 2,500+ outlets, it’s also partnering with Blinkit for faster delivery.