KUBERGROW TEAM SEBI Clears Lenskart IPO: Eyewear Giant to Raise ₹2,150 Crore, Promoters to Trim Stakes
The Securities and Exchange Board of India (SEBI) has granted approval for the much-awaited Lenskart IPO, unlocking the eyewear giant’s plan to raise ₹2,150 crore through a fresh issue. This marks a new growth phase for the company, blending capital infusion with strategic stake sales from promoters and marquee investors.
Lenskart IPO Structure and Stake Sale
According to the approved draft red herring prospectus (DRHP), the Lenskart IPO will comprise:
Fresh Issue: ₹2,150 crore in new equity shares
Offer For Sale (OFS): Up to 13.2 crore shares offloaded by promoters and existing investors
Promoters will cut down their stakes in this offering. Co-founder and CEO Peyush Bansal is expected to sell around 2 crore shares, while co-promoters Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will divest smaller portions of their holdings.
Alongside them, several institutional investors, including SoftBank’s SVF II, Alpha Wave Ventures, Temasek, Premji Invest, and Kedaara Capital, will also reduce their stakes through the OFS route.
At present, Lenskart’s promoters hold nearly 19.96% of the equity, while institutional and other shareholders account for the remaining 80.04%.
Use of Funds and Growth Strategy
The fresh capital raised from the Lenskart IPO will be allocated to multiple growth initiatives. These include:
Expanding the brand’s omnichannel footprint, with a focus on Tier II and Tier III cities across India
Enhancing manufacturing capacity and improving supply chain operations
Driving international expansion in key markets
Strengthening brand visibility and marketing efforts
A notable portion — around ₹320 crore over the next four years — has been earmarked exclusively for brand-building activities. This will cover digital campaigns, influencer marketing, offline promotions, and large-scale advertising efforts. In FY25 alone, Lenskart spent nearly ₹448 crore on marketing, underscoring its intent to dominate the eyewear segment.
Strong Financial Performance Ahead of IPO
The Lenskart IPO comes on the heels of an impressive financial turnaround.
Net Profit (FY25): ₹297.3 crore, a sharp reversal from a loss of ₹10.2 crore in FY24
Revenue (FY25): ₹6,652.5 crore, reflecting a 23% year-on-year growth and a CAGR of 33% over the past two years
Gross Margins: Improved by over 500 basis points, reaching nearly 69%, powered by operational efficiencies and scale
This shift from losses to profitability highlights the company’s strengthening fundamentals, adding confidence for prospective IPO investors.
Lenskart’s Global Footprint and Investor Backing
Founded in 2008, Lenskart has evolved from a startup into one of the world’s largest eyewear retailers. Its omnichannel model combines a strong digital platform with more than 2,000 physical stores across India and global markets.
The company has attracted backing from some of the world’s top investors, including SoftBank, Temasek, KKR, ADIA, TPG, Alpha Wave, and Kedaara Capital, all of whom have played a key role in its journey from startup to scale-up.
What the Lenskart IPO Signals for India’s Startup Wave
The SEBI approval places Lenskart among a growing list of Indian consumer-tech startups gearing up for public market debuts. Companies like Meesho, PhysicsWallah, and Groww are also expected to follow suit, reflecting stronger investor sentiment in India’s robust consumer economy.
For Lenskart, this IPO is not just a fundraising exercise — it’s a strategic milestone that marks its evolution from a fast-growing startup into a publicly listed consumer brand with global ambitions.
As the IPO season in India heats up, market watchers will keep a close eye on Lenskart’s listing performance. Its blend of profitability, strong investor backing, and an aggressive omnichannel strategy could make it a benchmark case for future startup listings. The success of the Lenskart IPO may also inspire a new wave of tech-driven consumer brands to test public markets sooner than expected.
