Eyewear retailer Lenskart Solutions Limited has filed its final Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI), paving the way for one of the most anticipated internet IPOs of 2025.
According to the RHP reviewed, Lenskart plans to raise ₹2,150 crore through a fresh issue of shares, along with an offer for sale (OFS) of up to 12.76 crore shares by existing investors — slightly lower than the 13.2 crore shares mentioned in the draft prospectus.
The anchor investor round will open on October 30, followed by the public issue between October 31 and November 4. An employee reservation portion worth ₹15 crore has also been set aside, representing up to 5% of the post-offer equity share capital.
Who’s Selling in the OFS?
The OFS will see participation from both promoters and major institutional investors.
- Peyush Bansal, Founder and CEO of Lenskart, will offload up to 2.05 crore shares.
- Co-founders Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will also sell smaller portions of their stakes.
Among institutional investors, SoftBank’s SVF II Lightbulb (Cayman) Ltd will sell up to 2.55 crore shares. Other participating shareholders include Kedaara Capital Fund II LLP, PI Opportunities Fund II (ChrysCapital), MacRitchie Investments (KKR), Alpha Wave Ventures, Schroders Capital, and TR Capital.
Despite these partial exits, most institutional investors are retaining significant holdings, reflecting long-term confidence in Lenskart’s growth trajectory and profitability.
Utilization of IPO Proceeds
The ₹2,150-crore fresh issue will primarily fund expansion and technology initiatives. According to the RHP:
- ₹273 crore will go toward capital expenditure for new company-owned (CoCo) stores, including fit-outs, interiors, and setup costs.
- ₹591 crore will be used for lease and rental payments, underscoring Lenskart’s focus on offline retail expansion.
- ₹213 crore is earmarked for technology and cloud infrastructure, including AI-powered customer tools, backend systems, and salaries for technology teams.
- ₹320 crore will be spent on brand marketing and promotional campaigns, both in India and select international markets.
- Up to 35% of the gross issue proceeds will be allocated toward potential acquisitions and general corporate purposes.
The company emphasized that it will not receive any funds from the OFS, as proceeds from the secondary sale will go entirely to the selling shareholders.
Lenskart’s Financial Performance
Lenskart, backed by global investors such as SoftBank, Temasek, KKR, and Alpha Wave Ventures, has shown strong financial recovery in the past year.
The company reported a net profit of ₹297 crore in FY25, compared to a loss of ₹10 crore in FY24, driven by robust demand and cost optimization.
Revenue surged 23% year-on-year to ₹6,652 crore, while gross margins expanded by nearly 500 basis points to 69%, highlighting improved operational efficiency and better product mix.
IPO Timeline and Outlook
- Anchor book opens: October 30, 2025
- Public issue: October 31 – November 4, 2025
The listing is expected to make Lenskart one of India’s most valuable listed consumer internet companies, and the largest eyewear brand to debut on the public markets.
With strong profitability, expanding omnichannel presence, and a loyal customer base, Lenskart’s IPO is set to be a key benchmark for India’s consumer tech sector in 2025.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Readers are advised to consult a qualified financial advisor before making any investment decisions. Legal Parivar and its authors are not responsible for any financial losses arising from investment actions based on this content.
