Lenskart's IPO Gets Sebi Nod, Eyes Mid-November Market Debut
Lenskart Solutions has received Sebi approval for its IPO on October 3. The offering includes a fresh issue of Rs 2,150 crore and an OFS of 13.23 crore shares. Key stakeholders participating in the OFS include founders and investors like SoftBank and Premji Invest. Lenskart's financials show a turnaround from a Rs 10 crore loss in FY24 to a Rs 297 crore profit in FY25, with revenue growing 22% year-on-year. The company operates over 2,500 stores globally. Kotak Mahindra Capital, Morgan Stanley, Citi, Avendus Capital, and Intensive Fiscal Services are managing the IPO.
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Lenskart Solutions, the popular eyewear company, has received the green light from the Securities and Exchange Board of India (Sebi) for its Initial Public Offering (IPO). The approval, granted on October 3, paves the way for the company's much-anticipated debut on Indian stock exchanges, tentatively scheduled for mid-November.
IPO Structure
The IPO comprises two components:
- A fresh issue of shares worth Rs 2,150 crore
- An offer-for-sale (OFS) of 13.23 crore shares by existing shareholders
Key Stakeholders Participating in OFS
Several prominent stakeholders will partially divest their holdings through the OFS, including:
- Founders: Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary
- Investors: SoftBank, Premji Invest, Temasek, Kedaara Capital, and Alpha Wave Global
Lenskart's Financial Performance
Lenskart has demonstrated strong financial growth:
| Fiscal Year | Net Profit (Rs Crore) | Revenue (Rs Crore) |
|---|---|---|
| FY25 | 297.00 | 6,625.00 |
| FY24 | -10.00 | 5,430.00 |
The company has shown a remarkable turnaround, moving from a loss of Rs 10.00 crore in FY24 to a net profit of Rs 297.00 crore in FY25. This financial improvement, coupled with a 22% year-on-year revenue growth, positions Lenskart as an attractive prospect for potential investors.
Company Overview
Lenskart has established a strong presence in the eyewear market with over 2,500 stores globally. This extensive network has likely contributed to its robust financial performance and market position.
IPO Management
The book-running lead managers for Lenskart's IPO include:
- Kotak Mahindra Capital
- Morgan Stanley
- Citi
- Avendus Capital
- Intensive Fiscal Services
These reputable financial institutions will play a crucial role in managing the IPO process and ensuring its smooth execution.
As Lenskart prepares for its public debut, investors and market watchers will be keenly observing how this rapidly growing eyewear company performs on the stock market. The successful Sebi approval marks a significant milestone in Lenskart's journey towards becoming a publicly-traded company.
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