India’s leading eyewear retailer, Lenskart, has secured regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO).
The approval relates to its draft red herring prospectus, which includes a fresh equity issue of ₹2,150 crore alongside an offer for sale (OFS) by promoters and early investors. According to sources, the OFS is expected to involve the sale of up to 132.3 million shares.
In terms of structuring, co-founder Peyush Bansal intends to offload around 20 million shares, while other founders such as Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will each sell smaller stakes.
Institutional backers including SoftBank, Temasek, Kedaara Capital, Alpha Wave Ventures, Premji Invest, and others have also been named among prospective sellers in the OFS component.
Lenskart’s total IPO size is projected to be in the range of ₹7,500 crore to ₹8,000 crore, taking into account both the fresh issue and the OFS. After gaining SEBI’s nod, the company is expected to file an updated prospectus in the coming weeks and eye a mid-November listing.
The business has shown a strong financial rebound. In FY25, Lenskart turned profitable, posting a net profit of about ₹297.3 crore, compared to a net loss of around ₹10.2 crore in FY24. Its revenues increased by nearly 22–23 percent year-on-year to about ₹6,652.5 crore. The company has attributed margin improvements to operational efficiencies and scaling advantages.
Proceeds from the fresh issue are earmarked across multiple strategic investments. Around ₹272.6 crore will go into setting up new company-owned stores, ₹591.4 crore toward rent, lease, and license expenses for existing outlets, ₹213.4 crore for technology and cloud infrastructure, and ₹320 crore for brand marketing. The remainder will support acquisitions and general corporate needs.
Ahead of going public, founder Peyush Bansal acquired an additional 2.5 percent stake from existing investors for ₹222 crore, valuing the company at over ₹8,700 crore.
With SEBI’s clearance secured and the public debut timeline set, Lenskart joins a growing wave of Indian startup-era companies transitioning to public markets this year.
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