MC EXCLUSIVE SEBI clears Lenskart IPO; eyewear startup to raise Rs 2,150 crore via fresh issue

Lenskart plans to deploy the fresh proceeds to fuel its expansion strategy.

SEBI has approved Lenskart’s draft red herring prospectus (DRHP) for its upcoming initial public offering (IPO), paving the way for the omnichannel eyewear retailer to join the growing list of Indian startups hitting the public markets.

At least three people confirmed the development to Moneycontrol. Lenskart executives were not immediately available for comment.

As per the offer document, the IPO will consist of a fresh issue of equity shares worth Rs 2,150 crore, along with an Offer for Sale (OFS) of up to 13.2 crore shares by existing investors and promoters.

The OFS will see participation from key shareholders, including SoftBank-backed SVF II, Alpha Wave Ventures, Temasek's affiliates, Premji Invest, and Kedaara Capital.

Among the promoters, Peyush Bansal will offload 2 crore shares, while Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will each sell a smaller stake.

Currently, the promoters collectively hold 19.96 percent of the company, while 80.04 percent is owned by institutional and other shareholders.

Lenskart plans to deploy the fresh proceeds to fuel its expansion strategy.

The IPO clearance comes on the back of Lenskart’s solid financial turnaround. The company reported a net profit of Rs 297.3 crore in FY25, compared to a loss of Rs 10.2 crore in FY24.

Revenue also surged 23 percent YoY to Rs 6,652.5 crore, with a CAGR of 33 percent over the last two years. Gross margins improved by over 500 basis points to around 69 percent, driven by operating efficiencies and scale.

Founded in 2008, Lenskart operates more than 2,000 stores globally, with a strong online and offline presence. It is backed by marquee global investors including SoftBank, ADIA, Temasek, KKR, Alpha Wave, TPG, and Kedaara Capital.

Lenskart joins a growing list of Indian startups including Meesho, PhysicsWallah and Groww that are gearing up for public market debut amid improved investor sentiment.