Lenskart files for ₹8,000 crore IPO with SEBI
Bengaluru: Lenskart Solutions has filed its draft red herring prospectus (DRHP) with Sebi, setting the stage for one of the largest consumer-tech IPOs this year, which could raise between ₹7,500 crore and ₹8,000 crore, according to Times of India report.
The final issue size will depend on prevailing valuations at the time of listing.
The proposed IPO will comprise a fresh issue worth ₹2,150 crore and an offer for sale (OFS) of up to 13.23 crore equity shares by existing shareholders and promoters.
The company has also outlined a potential pre-IPO placement of up to ₹430 crore, which could reduce the size of the fresh issue.
Lenskart plans to use the proceeds for multiple growth areas, including ₹272.62 crore to expand its company-owned stores in India, ₹591.44 crore for lease-related payments, ₹213.38 crore on technology and cloud infrastructure, and ₹320.06 crore for brand marketing, according to the report.
Remaining funds will go toward acquisitions and general corporate purposes.
As of March 31, 2025, Lenskart operated 2,723 outlets globally—2,067 in India and 656 abroad.
It sold 27.2 million eyewear units in FY25, up from 21.2 million the previous year.
Its annual transacting customer base increased to 12.4 million in FY25, compared to 7.7 million in FY23.
The paid loyalty program, Lenskart Gold, had 6.77 million members in India.
Financially, the company swung to profit in FY24 and followed that with robust growth in FY25, reporting revenue of ₹6,653 crore, up from ₹5,428 crore a year earlier.
Net profit jumped over five times—from ₹59 crore in FY24 to ₹297 crore—driven by operating efficiencies and stronger repeat customer purchases.
Its mobile apps have seen over 100 million cumulative downloads, and its websites drew 105 million visitors during FY25.
According to its DRHP, new customers bought an average of 3.62 pairs of glasses within two years.
Among the more unusual disclosures in the IPO filing is a note that one of Lenskart’s promoters, Sumeet Kapahi—who oversees global sourcing—has been unable to retrieve his B.Com (Hons) degree or marksheets from the University of Delhi, according to the TOI report.
Despite multiple emails, letters, and online applications, the university has not responded.
The company stated that the documents submitted for the IPO are based on the certificates he currently holds, and there's no assurance the originals will ever be received.
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