Omnichannel eyewear retailer Lenskart has received approval from the Securities and Exchange Board of India (SEBI) to move forward with its initial public offering (IPO). While an official announcement from the company is pending, this regulatory endorsement signifies an important step in Lenskart’s path toward entering the public market.
The IPO consists of a fresh issue of equity shares valued at up to ₹2,150 crore, in addition to an offer for sale (OFS) of up to 13.2 crore shares by existing shareholders, as detailed in the draft red herring prospectus (DRHP) submitted two months ago.
Prominent stakeholders participating in the OFS include company promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, alongside institutional investors like SoftBank, Temasek, Kedaara Capital, and Alpha Wave Ventures.
Funds raised from the fresh equity issuance are intended for expanding Lenskart’s store network, enhancing its technological infrastructure, and increasing marketing initiatives. The company aims to establish more company-owned and operated (COCO) outlets to strengthen its presence in both existing and new markets.
Founded in 2010 by Bansal, Chaudhary, and Kapahi, Lenskart operates on an omnichannel model, integrating its digital platform with a significant offline presence. The company serves customers in India, the UAE, Singapore, Spain, and Japan, boasting over 2,723 stores and a customer base of nearly 20 million.
With SEBI’s approval, Lenskart joins a growing list of Indian start-ups planning to go public this year, having raised more than $1.75 billion from distinguished global investors such as ChrysCapital, the Abu Dhabi Investment Authority, and Temasek.
