Lenskart's Visionary IPO: A Multi-Crore Milestone in Eyewear Retail

Lenskart Solutions Ltd, a prominent omni-channel eyewear retailer, is taking a significant step by filing for an initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). The IPO aims to generate Rs 2,150 crores through the fresh issuance of equity shares while also seeing promoters and investors offload a substantial number of shares.

The draft red herring prospectus (DRHP) outlines that key figures including Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, alongside notable investors such as SVF II Lightbulb (Cayman) Ltd and Schroders Capital Private Equity Asia Mauritius Ltd, will offload shares as part of the offer for sale (OFS). The raised capital will be channelled towards expanding store operations through new Company-operated Company-owned (CoCo) stores in India.

Founded in 2008, Lenskart has grown from an online eyewear business to an extensive retail network across India and internationally in Southeast Asia and the Middle East. The proceeds from the IPO will also support investments in technology, brand marketing, potential acquisitions, and associated corporate objectives.

(With inputs from agencies.)