Unicorn Lenskart Files for ₹2,150 Crore IPO with SEBI

SA TeamJuly 29, 2025

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Three points you will get to know in this article:

1. Lenskart has filed a draft red herring prospectus with SEBI to raise ₹2,150 crore through a fresh share issue and an OFS of up to 13.2 crore shares by existing investors.

2. The IPO proceeds will be used for new store development, lease expenses, technology upgrades, and marketing initiatives.

3. The company reported a profit of ₹297.3 crore in FY25, with revenues rising 22.6% to ₹6,652.5 crore, highlighting strong financial growth and global expansion.

Details of Lenskart’s IPO and Share Sale by Existing Investors

LensKart, an omnichannel eyewear retailer, has submitted its draft red herring prospectus (DRHP) to the markets regulator SEBI in order to raise up to INR 2,150 Cr through a fresh share issue.

The IPO will include an OFS of up to 13.2 crore shares by current investors.

Promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with institutional investors like SVF II Lightbulb (SoftBank), Schroders, PI Opportunities, Macritchie Investments, Kedaara Capital, and Alpha Wave Ventures, will sell shares via the OFS.

Peyush Bansal intends to sell shares amounting to a maximum of 2 Cr.

The DRHP indicates that LensKart could potentially generate up to INR 430 Cr via a pre-IPO placement.

Planned Utilization of IPO Proceeds

Out of the total revenue, INR 272.6 Cr will be designated for capex to construct and furnish new Company Owned, Company Operated (CoCo) stores. The company will incur additional costs of INR 591.4 crore for lease, rent, and license payments associated with its CoCo stores.

Furthermore, INR 213.3 Cr will be allocated for the enhancement and expansion of technology systems and cloud infrastructure, whereas INR 320 Cr is designated for advertising, brand promotion, and marketing efforts to increase public awareness and draw in new customers.

Lenskart’s Footprint, Technology, Marketing Investments, Financials

Lenskart, established in 2010 by Amit Chaudhury, Bansal, and Sumeet Kapahi, is an omnichannel eyewear retailer catering to customers in India, the UAE, Singapore, and Japan. The firm asserts it has more than 2,500 outlets and a clientele of 2 Cr.

The startup based in Gurugram has secured funding exceeding $1.75 billion to date from investors such as ChrysCapital, Abu Dhabi Investment Authority, and Temasek, among others.

Financially, the company reported a profit of INR 297.3 Cr for the financial year ending March 2025 (FY25), in contrast to a loss of INR 10 Cr in the prior fiscal year. In FY25, its revenue from operations rose by 22.6%, reaching INR 6,652.5 Cr compared to INR 5,427.7 Cr in FY24.