Lenskart, the popular eyewear retailer, has reached a significant milestone in its journey towards going public. The company has received the green light from the Securities and Exchange Board of India (SEBI) for its much-anticipated initial public offering (IPO). With this approval in hand, Lenskart is now setting its sights on a mid-November listing, marking a new chapter in the company's growth story.

IPO Details

The Gurugram-based company is looking to raise a substantial amount through its public offering:

• Total IPO Size: Rs 7,500-8,000 crore
• Fresh Capital: Rs 2,150 crore
• Secondary Sales: The remainder will come from existing shareholders selling their stakes

Key Selling Shareholders

Several prominent individuals and investment firms will be offloading shares as part of the IPO:

• Founders: Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary
• Investors: SoftBank, Premji Invest, Temasek, Kedaara Capital, and Alpha Wave Global

These stakeholders will collectively sell 132.3 million shares in the secondary component of the offering.

Financial Performance

Lenskart has shown impressive financial growth:

The company turned profitable in fiscal year 2025, with a significant jump in net profit. Revenue also saw a healthy 22% year-on-year growth.

Utilization of IPO Proceeds

Lenskart has outlined specific plans for the funds raised through the fresh issue:

• New Store Expansion: Rs 272 crore
• Leasing and Rental Expenses: Rs 591 crore (for existing 2,700+ stores)

Next Steps

With SEBI approval secured, Lenskart is now preparing to:

1. File its updated prospectus
2. Target a mid-November listing on the stock exchanges

This IPO represents a significant moment for Lenskart, as it transitions from a private company to a publicly-traded entity. Investors and market watchers will be keenly observing how this eyewear giant performs on its debut in the public markets.

Lenskart, India's largest organized eyewear retailer, is preparing for a significant public listing, with plans to raise approximately Rs 2,200 crore through an Initial Public Offering (IPO). This move comes as the company demonstrates a strong market position in the rapidly growing Indian eyewear sector.

Financial Highlights

Lenskart has shown impressive financial performance:

• Maintains a strong net cash position of Rs 1,500 crore
• Achieved revenue of Rs 6,700 crore
• Recorded a 33% CAGR over three years

Market Presence and Operations

The company has established a significant presence both domestically and internationally:

• Operates over 2,700 stores globally
• 2,067 stores in India
• Largest organized eyewear retailer in the country
• International business contributes 40% of total revenue

Business Model and Product Mix

Lenskart's business model is characterized by:

• Control over the entire value chain from manufacturing to retail
• Prescription eyeglasses accounting for 80% of revenue
• Strong gross margins: 74% in international business vs. 68% consolidated

IPO Details and Objectives

The planned IPO is expected to:

• Raise approximately Rs 2,200 crore
• Fund new store expansion
• Support marketing initiatives

Ownership Structure

Key shareholders of Lenskart include:

• Softbank
• ADIA (Abu Dhabi Investment Authority)
• Alpha Wave Ventures
• Founders hold a 20% ownership stake

Market Outlook

The Indian eyewear market presents significant growth opportunities:

Lenskart's upcoming IPO comes at a time when the company has established itself as a leader in the organized eyewear retail sector. With its omnichannel approach, international presence, and control over the entire value chain, Lenskart appears well-positioned in the growing Indian eyewear market.