Mumbai: Eyewear brand Lenskart has secured approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The Gurugram-based company will file an updated prospectus in the coming weeks and aims to list its shares by mid-November.
Lenskart submitted its draft red herring prospectus (DRHP) to SEBI in July. If the process stays on track, the IPO will rank among the largest by a new-age Indian company in 2025.
Reports suggest that Lenskart seeks to raise ₹8,876 crore ($1 billion) at a valuation of $10 billion (₹88,764 crore). This would make it India’s third-largest public issue of the year, after Tata Capital and LG Electronics.
Fresh issue and OFS to drive capital plan
The IPO will include both a fresh issue and an offer-for-sale (OFS). Lenskart will issue over 13.22 crore shares, with new shares worth ₹2,150 crore. Promoters and shareholders — including Peyush Bansal, Neha Bansal, and Amit Chaudhary — will sell part of their holdings through OFS.
The company will use the funds to strengthen operations, expand retail presence, and cover rental and lease expenses for its 2,700+ outlets. About ₹272 crore will go toward new store openings, while ₹591 crore will cover rental obligations and infrastructure.
In addition, the capital will support technology upgrades, marketing, acquisitions, and the expansion of its Company-Owned Company-Operated (CoCo) retail model.
