Lenskart Files DRHP with SEBI for ₹2,150 Crore IPO – Eqwires Best Intraday tips provider in India, top trading tips company, Best Stock Advisory service in India

Lenskart Solutions Ltd, India’s leading omnichannel eyewear brand, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), initiating the process for its public listing. The IPO is expected to be one of the largest by a consumer tech company this year.

IPO Structure and Size

The proposed IPO includes:

Fresh Issue: ₹2,150 crore
Offer for Sale (OFS): Up to 13.22 crore equity shares by existing shareholders

The total issue size is estimated between ₹7,500 crore and ₹8,500 crore, depending on market conditions and investor response.

Key Shareholders Offloading Stake

The OFS will involve partial stake sale by:

Founders: Peyush Bansal, Neha Bansal, Amit Chaudhary, Sumeet Kapahi
Institutional Investors: SoftBank, Kedaara Capital, Alpha Wave Ventures, MacRitchie Investments, Schroders Capital, PI Opportunities Fund

This move aligns with broader investor exit strategies and regulatory norms.

Pre-IPO Placement Option

Lenskart may consider a pre-IPO placement of ₹430 crore. If executed, the fresh issue size will be reduced accordingly.

Use of Proceeds

The company plans to deploy the net proceeds toward:

Setting up new Company-Owned Company-Operated (CoCo) stores across India
Lease, rent, and license payments for retail expansion
Investment in technology and cloud infrastructure
Brand marketing and business promotion
Potential inorganic acquisitions
General corporate purposes

Financial Performance (FY25)

Revenue: ₹6,625 crore (↑22% YoY)
Net Profit: ₹297 crore (vs. ₹10 crore loss in FY24)
EBITDA: ₹1,115 crore (92% CAGR over 3 years)
EBITDA Margin: 17%
International Revenue: ₹2,638 crore (↑17% YoY)

The company sold over 27 million eyewear units to 12.4 million customers in FY25, with manufacturing capacity expanding significantly.

Business Overview

Founded in 2008, Lenskart operates a hybrid retail model with:

2,723 stores globally, including 2,067 in India
Manufacturing facilities in Bhiwadi (Rajasthan) and Gurugram (Haryana)
A portfolio of brands including John Jacobs, Owndays, Vincent Chase, Lenskart Air, and Hooper Kids

The company targets India’s growing refractive error population, projected to reach 943 million by FY30.

Strategic Positioning

Lenskart’s omnichannel strategy, tech-driven operations, and international footprint position it as a dominant player in the eyewear segment. Its acquisition of Japanese brand Owndays in 2022 has further strengthened its presence in Asia-Pacific markets.