Eyewear brand Lenskart has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI to launch an IPO. The company wants to raise Rs 2,150 crore (around $250 million) by selling new shares.
In addition, existing investors and founders will sell up to 13.2 crore shares through an Offer for Sale (OFS). Altogether, the total IPO size is expected to be between $900 million and $1 billion.
Lenskart IPO Filing
Big institutional investors like SoftBank, Temasek, Schroders Capital, PI Opportunities Fund, Kedaara Capital, and Alpha Wave will participate in the OFS. SoftBank is set to sell the largest chunk—about 2.55 crore shares. Schroders Capital will sell 1.91 crore shares, and Temasek plans to offload 78.5 lakh shares.
Among the founders, CEO Peyush Bansal will sell around 2.05 crore shares, while co-founder Neha Bansal will sell 57.3 lakh shares. Another co-founder, Amit Chaudhary, and early team member Sumeet Kapahi will each sell about 28.6 lakh shares.
Use of Funds
The money from the fresh issue will help Lenskart open more company-operated stores across India. Other plans include upgrading technology, investing in cloud systems, spending on marketing, and covering rent and licensing costs.
As of March 31, 2025, Lenskart had 2,723 stores worldwide 2,067 in India and 656 abroad. The brand focuses on affordable eyewear, with average prices 35–40% lower than competitors, according to Redseer.
Strong Business Growth
Lenskart saw its revenue rise by 22.5% in FY25, reaching Rs 6,652 crore compared to Rs 5,428 crore in FY24. Impressively, the company turned profitable with a net profit of Rs 297 crore, reversing a loss of Rs 10 crore in the previous year.
SoftBank is currently Lenskart’s largest external shareholder, owning a 15.04% stake. Other big investors include Abu Dhabi Investment Authority (12.45%) and Temasek (4.86%). Peyush Bansal and Neha Bansal still hold 10.28% and 7.74%, respectively.
Moves Towards Public Listing
The IPO will be managed by investment banks including Kotak Mahindra Capital, Citigroup, Avendus Capital, Axis Capital, Morgan Stanley, and Intensive Fiscal Services. Interestingly, Lenskart skipped SEBI’s confidential filing option and went for the traditional DRHP method instead. In late May 2025, the company also became a public limited entity to prepare for its market debut.
