Lenskart Eyes Public Market Debut with SEBI Approval

Omnichannel eyewear retailer Lenskart has gained approval from the Securities and Exchange Board of India (SEBI) to launch its public offering, as reported by Moneycontrol. This announcement follows the submission of the company’s Draft Red Herring Prospectus (DRHP) in July 2025.

Details of the Upcoming IPO

The initial public offering will include a fresh equity issuance of Rs 2,150 crore, while shareholders plan to divest up to 13.2 crore shares through an Offer for Sale (OFS). The OFS will feature prominent investors such as SoftBank, Temasek, Schroders Capital, Premji Invest, Kedaara Capital, and Alpha Wave, with SoftBank expected to sell the largest share. Co-founder and CEO Peyush Bansal will also participate by selling 2.05 crore shares.

Utilisation of IPO Proceeds

The funds raised from this new issue will be directed towards opening new Company-Owned Company-Operated (CoCo) stores, managing lease obligations, technology investments, boosting brand marketing, supporting business promotion, and fulfilling other corporate requirements.

Company Financial Performance

According to various sources from the startup data intelligence platform, the Gurugram-based company has secured over $1.8 billion through various funding rounds. As indicated in the DRHP, SoftBank holds the most substantial external stake in Lenskart at 15.04%, followed closely by the Abu Dhabi Investment Authority with 12.45%.

Growth Metrics

Lenskart’s revenue increased by 22.6% year-on-year, reaching Rs 6,653 crore in FY25, up from Rs 5,428 crore in FY24. This growth propelled the company from a loss of Rs 10 crore to a net profit of Rs 297 crore.

Industry Context

With SEBI’s endorsement, Lenskart joins the ranks of other companies that have recently received the green light for their initial public offerings, including boAt, Capillary Technologies, Groww, and Pine Labs.