Lenskart Moves Closer to Stock Market Debut

Lenskart is on the brink of its highly anticipated initial public offering (IPO), with shareholders giving their formal approval at the company's annual general meeting. The omnichannel eyewear giant aims to raise Rs 2,150 crore ($250 million), potentially scaling up to a $1 billion public issue.

DRHP Filing and Market Trends

The company is set to file its draft red herring prospectus (DRHP) with Sebi shortly, joining a wave of new-age companies like Meesho and Groww aiming to go public in 2025. Collectively, these firms seek to raise over Rs 20,000 crore this year.

Employee Stock Options and Shareholder Approvals

Shareholders, including SoftBank and Temasek, have also approved a new employee stock option plan, Esop 2025, comprising 7.2 million shares. Currently, 19% of Lenskart's shares are allocated to its Esop pool.

Leadership and Expansion

Founder and CEO Peyush Bansal may see his stake increase by 1.5-2% through a structured payout. Lenskart, operating globally, reported a 43% rise in operating revenue to Rs 5,428 crore in FY24, with net losses narrowing significantly.

Strategic Growth and Future Plans

With a valuation jump to $6.1 billion and a $200 million investment in a new manufacturing plant, Lenskart's omnichannel strategy continues to drive growth, blending online sales with over 2,500 retail outlets.