Skip to main content

Eyewear retailer Lenskart files IPO papers to raise Rs 2,150-cr via fresh issue

Lenskart proposes to utilise the proceeds from the IPO for setting up new CoCo stores in India and to lease, rent, and license agreements for these CoCo stores

New Delhi: Lenskart Solutions Ltd, an omni-channel eyewear retailer, has filed preliminary papers with capital markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO).

The Gurugram-based company’s IPO involves raising Rs 2,150 crore through fresh issuance of equity shares. Besides, promoters and investors would offload 13.22 crore equity shares, according to the draft red herring prospectus (DRHP) filed on Monday.

As a part of the OFS, promoters — Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi; investors — SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund – II, Macritchie Investments Pte Ltd, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP — would offload shares.

Lenskart proposes to utilise the proceeds from the IPO for various strategic initiatives, including Rs 272.6 crore capital expenditure for setting up new Company-operated Company-owned (CoCo) stores in India and Rs 591.44 crore for payments related to lease, rent, and license agreements for these CoCo stores.

Additionally, Rs 213.37 crore will be used for investments in technology and cloud infrastructure; Rs 320 crore for brand marketing and business promotion for enhancing brand awareness and the remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes.

Also, the company may consider a pre-IPO placement aggregating to Rs 430 crore. If such a placement is undertaken, the fresh issue size will be reduced accordingly.

Founded in 2008, Lenskart commenced operations in India as an online business in 2010 and opened its first retail store in New Delhi in 2013. The company’s business spans across designing, manufacturing, branding and retailing.

Lenskart is India’s largest organised retailer of prescription eyeglasses in terms of B2C eyeglasses sales volumes during financial year 2025, according to the Redseer Report.

It has a strong presence across metro, Tier 1 and Tier 2 cities and international operations in Southeast Asia and the Middle East.

Lenskart operates business through 2,723 stores globally, comprising 2,067 stores in India and 656 stores internationally. Its mobile applications had over 100 million cumulative app downloads as of March 2025.

The company has manufacturing facilities at two locations in India – in Bhiwadi, Rajasthan and Gurugram, Haryana – supplemented by regional facilities in Singapore and the United Arab Emirates.

It targets different customer categories through a portfolio of brands and sub-brands that include premium collections through John Jacobs and Owndays (acquired in 2022), and economy and affordable premium collections through Lenskart Air, Vincent Chase, hustlr, and Hooper Kids.

On the financial front, Lenskart turned profitable in FY25 with a net profit of Rs 297.3 crore after posting a loss of Rs 10.15 crore in FY24.

It reported an EBITDA (earnings before interest, taxes, depreciation and amortisation) or operating profit of Rs 1,115 crore, an increase from Rs 763 crore a year earlier.

The company clocked revenues of Rs 6,652 crore in FY25, an increase from Rs 5,428 crore in the preceding fiscal.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services have been appointed to manage the maiden public issue.

The post Eyewear retailer Lenskart files IPO papers to raise Rs 2,150-cr via fresh issue appeared first on India Retailing.



from India Retailing https://ift.tt/rwY3029
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
70 comments
Read more

Sagar Daryani, CEO and Co-founder – Wow! Momo & Saga: From a Kiosk to a Kingdom

Sagar Daryani’s entrepreneurial odyssey from humble beginnings to pioneering success has redefined the landscape of food startups in India. Co-founding Wow! Momo, he has spearheaded the growth of the largest indigenous QSR chain in the country, crafting a remarkable saga of triumph The Genesis: A Visionary Venture Takes Root In 2008, armed with a mere Rs. 30,000 and boundless ambition, Sagar Daryani and Binod Homagai embarked on their entrepreneurial journey while still pursuing their graduation in B.Com Hons from St. Xavier’s College, Kolkata, even before their college results were out. They knew the value for money and boot-strapped to plough back profits and grow their venture. Sagar spearheaded brand expansion, brand creation, and marketing and retail operations. Grew across the city with a strong consumer focus. The early days were hard but keeping track of the money flow was even harder. Believing in the concept of ‘1 rupee saved is 5 rupees earned’, and the lessons they lear...
1 comment
Read more

Homegrown ice cream chain HOCCO to open 250 stores, eyes Rs 400 crore by FY26

Ankit Chona, Founder and Managing Director of HOCCO, delves into the company’s revenue model, growth strategies, and vision for the future… Bengaluru: HOCCO (House of Chonas Collaborative) , the Ahmedabad-based ice cream and quick-service restaurant (QSR) chain, boasts a rich legacy spanning over 70 years, with roots tracing back to pre-independence India. The Chona family has been deeply entrenched in the food industry since 1944, originally operating in undivided Pakistan. Following the Partition, Satish Chona , an engineer with British Overseas Airways Corporation, relocated from Karachi to India. After journeying through multiple cities, he ultimately settled in Ahmedabad, where he established his first QSR outlet in 1953. Three decades later, he expanded into the casual dining segment, launching a restaurant in Baroda while continuing the family’s ice cream manufacturing business. However, in 2017, the company sold its ice cream division to a South Korean firm, shifting its fo...
Post a Comment
Read more