Lenskart's Mega IPO Plans Unveiled

BENGALURU: Lenskart Solutions is setting the stage for what could be one of the year's most significant consumer-tech listings. With an initial public offering (IPO) poised to raise between Rs 7,500 crore and Rs 8,000 crore, the eyewear giant is making headlines. The final figures hinge on the valuations at the time of listing, as per insiders.

Breaking Down the IPO Structure

The company recently submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi). This move includes a fresh issue of shares amounting to Rs 2,150 crore and an offer for sale (OFS) of up to 13.23 crore shares by existing stakeholders. Additionally, a pre-IPO placement of up to Rs 430 crore is on the table, potentially adjusting the fresh issue's size.

Strategic Use of Proceeds

Lenskart plans to allocate the fresh issue's proceeds towards expanding its company-owned stores in India, enhancing technology and cloud infrastructure, and bolstering brand marketing efforts. A portion will also support inorganic acquisitions and general corporate needs.

Global Footprint and Financial Health

As of March 31, 2025, Lenskart's global presence includes 2,723 stores, with a significant majority in India. The company has seen a remarkable uptick in sales and customer engagement, with its Lenskart Gold membership program reaching new heights. Financially, Lenskart has transitioned into profitability, showcasing robust revenue growth and a fivefold increase in net profit.

An Unusual Disclosure

Amidst the financials and expansion plans, the DRHP reveals a peculiar risk concerning one of its promoters, Sumeet Kapahi, and his missing B.Com (Hons) degree from the University of Delhi. This unusual note adds a human element to the corporate narrative.