Lenskart files revised RHP to raise Rs 2,150 crore via fresh issue, trims OFS to 12.76 cr shares

The anchor investor round will open on October 30, followed by the public offer between October 31 and November 4

Eyewear retailer Lenskart Solutions Limited has filed its final Red Herring Prospectus (RHP) with SEBI, setting the stage for one of the year’s most closely watched internet listings.

The company will raise Rs 2,150 crore through a fresh issue of shares and conduct an offer for sale (OFS) of up to 12.76 crore shares by existing investors, slightly lower than the 13.2 crore shares outlined in the draft prospectus.

The anchor investor round will open on October 30, followed by the public offer between October 31 and November 4, according to the RHP reviewed by Moneycontrol. The employee reservation portion has been capped at Rs 15 crore, representing up to five percent of the post-offer equity share capital.

Who’s selling in the OFS?

The OFS will see participation from both promoters and institutional backers. Founder and CEO Peyush Bansal will offload up to 2.05 crore shares, while Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will sell smaller portions of their stakes.

Among major investors, SoftBank’s SVF II Lightbulb (Cayman) Ltd will sell up to 2.55 crore shares, while other selling shareholders include Kedaara Capital Fund II LLP, PI Opportunities Fund II (ChrysCapital), MacRitchie Investments (KKR), Alpha Wave Ventures, Schroders Capital, and TR Capital.

Despite the partial exits, most institutional investors continue to hold significant stakes, signalling long-term confidence in the company’s business model and profitability.

How will the proceeds be used?

According to the RHP, Lenskart will deploy the Rs 2,150-crore fresh issue proceeds across five broad areas. Around Rs 273 crore will go towards capital expenditure for new company-owned (CoCo) stores across India, covering fit-outs, interiors, and setup costs.

Another Rs 591 crore has been earmarked for lease and rental payments for these stores, reflecting the company’s aggressive offline expansion strategy.

About Rs 213 crore will be used for technology and cloud infrastructure investments, including AI-driven customer tools, backend platforms, and salaries for its in-house technology teams. A further Rs 320 crore will go toward brand marketing and promotional campaigns, both in India and key overseas markets.

The remainder of the proceeds—up to 35 percent of the gross issue size—will be allocated towards potential inorganic acquisitions and general corporate purposes. Lenskart said these funds will be deployed over the next three years and that acquisition targets have not yet been finalised.

The company clarified that it will not receive any proceeds from the OFS, as those will go entirely to the selling shareholders.

How is Lenskart performing financially?

Backed by SoftBank, Temasek, KKR, and Alpha Wave, Lenskart has reported a marked improvement in its financial performance.

The company posted a net profit of Rs 297 crore in FY25, compared to a loss of Rs 10 crore in FY24, while revenues rose 23 percent year-on-year to Rs 6,652 crore. Its gross margins improved by nearly 500 basis points to 69 percent, highlighting operational leverage and cost efficiency.

What’s next for the IPO?

The anchor book will open on October 30, followed by the public issue from October 31 to November 4. The listing is expected to make Lenskart one of India’s most valuable listed consumer internet companies and the country’s largest eyewear brand to debut on the public markets.