Multiple Companies Gear Up for IPOs with SEBI's Green Light

In a significant development on Monday, SEBI granted approval to six companies, including Lenskart Solutions Ltd and Wakefit Innovations Ltd, for initiating Initial Public Offerings (IPOs). This decision marks a pivotal moment for these companies, facilitating their expansion and strategy execution.

Lenskart has embarked on an ambitious plan to raise Rs 2,150 crore through a fresh equity share issue. The Draft Red Herring Prospectus (DRHP) reveals plans for promoters and investors to offload 13.22 crore equity shares. The proceeds are earmarked for new store expansions, technology investments, and brand marketing to bolster the company's market presence.

Similarly, Wakefit is set to raise up to Rs 468.2 crore, comprising both fresh equity and an offer for sale. The funds will be directed towards establishing additional stores, acquiring equipment, and enhancing the brand's visibility through marketing and advertisement efforts. Both companies are positioning themselves for aggressive growth, leveraging the new capital influx.

(With inputs from agencies.)