Lenskart IPO DRHP filed: 10 things to know about Peyush Bansal-led eyewear brand's Rs 8,000 crore issue
Lenskart, India’s largest eyewear retailer co-founded by Peyush Bansal of Shark Tank India fame, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering worth up to Rs 8,000 crore. The proposed listing marks a significant milestone for the omnichannel D2C player, which has also expanded its footprint across Southeast Asia and the Middle East.
Here are 10 things to know about the Lenskart IPO:
According to the DRHP filed on July 29, the Lenskart IPO comprises a fresh issue of shares worth Rs 2,150 crore and an offer-for-sale (OFS) of up to 132.3 million shares by existing investors. The total issue size is estimated to be in the range of Rs 7,500–8,000 crore, as per reports.
Lenskart may consider a pre-IPO placement of shares worth up to Rs 430 crore. If this goes through, the amount will be deducted from the fresh issue component, potentially lowering the net IPO size.
The OFS component will see secondary sales by several existing investors, including global heavyweights such as SoftBank, Alpha Wave, and Kedaara Capital. The DRHP also shows that promoters Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi will offload part of their stakes.
Lenskart is reportedly targeting a valuation of Rs 70,000–75,000 crore through the IPO. As of now, the promoters collectively hold less than 24% of the company, with CEO Peyush Bansal owning about 10.28% individually.
The IPO proceeds will go toward opening new company-owned stores in India, lease and rental expenses, investment in tech infrastructure, brand marketing, potential acquisitions, and general corporate purposes, per the DRHP.
In June 2024, Lenskart raised $200 million from Temasek Holdings Pte and Fidelity Management & Research at a $5 billion valuation. Avendus Capital, which advised on the deal, also noted that Fidelity later marked up its internal valuation of the firm to $6.1 billion, based on its April 2025 portfolio disclosures.
Lenskart’s revenue for FY25 rose to Rs 6,625 crore, growing at a compound annual rate of 32.5% from Rs 3,788 crore in FY23. The company’s DRHP highlights strong top-line expansion driven by its global omnichannel retail strategy.
The company operates manufacturing facilities in Bhiwadi and Gurugram, supported by regional centres in Singapore and the UAE. It currently runs 2,723 stores globally, including 2,067 in India and 656 overseas.
In FY25, Lenskart sold 27.2 million eyewear units across 12.4 million customer accounts. With 100 million app downloads and 105 million website visitors, its D2C platform leverages AI tools like virtual try-ons and facial analysis to drive engagement and sales.
The book running lead managers for the IPO include Kotak Mahindra Capital, Morgan Stanley, Avendus Capital, Citigroup, Axis Capital and Intensive Fiscal Services. The involvement of multiple global and domestic institutions signals strong institutional interest in the offering.
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