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New Delhi: Eyewear retailer Lenskart has secured approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). As per the sources familiar with the matter,, the company is expected to submit an updated prospectus in the coming weeks and is expected to launch itself on the stock exchanges by mid-November.
The public offer is expected to be around between Rs 7,500 crore and Rs 8,000 crore. The IPO is one of the year’s largest IPOs after Tata Capital and LG Electronics.
Earlier, Lenskart had filed its draft red herring prospectus (DRHP) with SEBI in July 2025, proposing to raise Rs 2,150 crore through a fresh issue of shares. Additionally, its founders Piyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary along with major investors such as SoftBank, Premji Invest, Temasek, Kedaara Capital, and Alpha Wave Global, will offload about 132.3 million shares via an offer-for-sale (OFS).
Kotak Mahindra Bank, Morgan Stanley, Citi, Avendus Capital, and Intensive Fiscal Services are the Book-lead running managers (BRLM). The Gurugram-based company’s listing comes amid a wave of high-profile offerings from firms like Groww, Meesho, PhonePe, and PhysicsWallah, which have opted for SEBI’s confidential filing route.
Lenskart reported a strong turnaround in FY2025, posting a net profit of Rs 297 crore as compared with a Rs 10 crore loss in FY2024. The company’s revenue surged 22 percent year-on-year to Rs 6,625 crore from Rs 5,428 crore.
A portion of the IPO proceeds, around Rs 272 crore, will be used to expand Lenskart’s retail presence across India, while Rs 591 crore has been allocated for store rentals, leasing, and related operational expenses across its network of 2,700 plus outlets. The company also plans to deploy funds toward strategic acquisitions to strengthen its market position.
Lenskart emerged as the winner of the ET Startup of the Year 2024. Lenskart’s upcoming IPO marks a major milestone in its growth journey, underscoring the growing investor appetite for profitable consumer-tech companies in India.
(Disclaimer: This article is only meant to provide information. TV9 Network does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds and crypto assets.)
