Gurugram-based omnichannel eyewear retailer Lenskart Solutions Ltd has officially filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), initiating its plans to go public.
According to the DRHP, the company intends to raise ₹2,150 crore (approximately $250 million) through a fresh issue of equity shares. Additionally, the offer for sale (OFS) component will see existing shareholders offloading up to 13.2 crore shares. The total IPO size is expected to be in the range of $900 million to $1 billion.
The OFS will feature several key institutional stakeholders. SoftBank, Lenskart’s largest institutional backer, plans to sell 2.55 crore shares. Other significant participants include Schroders Capital (1.91 crore shares), PI Opportunities Fund (87 lakh shares), Temasek (78.5 lakh shares), Kedaara Capital (73.6 lakh shares), and Alpha Wave (66.6 lakh shares).
Among the company’s leadership, cofounder and CEO Peyush Bansal is set to offload 2.05 crore shares. Cofounders Neha Bansal and Amit Chaudhary will sell 57.3 lakh and 28.6 lakh shares respectively, while early founding team member Sumeet Kapahi will also divest 28.6 lakh shares.
Proceeds from the fresh issue will be directed towards expanding Lenskart’s company-owned retail network across India, enhancing its technology infrastructure, investing in brand marketing and cloud-based systems, and covering rental and licensing fees. A portion of the capital will also be used for general corporate purposes.
As of March 31, 2025, the company operated 2,723 retail outlets globally, including 2,067 stores in India and 656 across international markets. For FY25, Lenskart posted a 22.5% year-on-year growth in operating revenue, which increased to ₹6,652 crore from ₹5,428 crore in FY24. Net profit stood at ₹297 crore, marking a strong recovery from a loss of ₹10 crore in the prior fiscal.
Research from Redseer indicates that Lenskart’s average pricing for frames and lenses during FY25 was 35–40% below the broader market average, reinforcing its cost-competitive and value-driven approach.
SoftBank currently holds a 15.04% stake in Lenskart, followed by Abu Dhabi Investment Authority (12.45%), PI Opportunities Fund (5.13%), and Temasek (4.86%). Among the promoters, Peyush Bansal owns 10.28% and Neha Bansal holds 7.74%.
The IPO is being handled by a consortium of investment banks including Kotak Mahindra Capital, Citigroup, Avendus Capital, Axis Capital, Morgan Stanley, and Intensive Fiscal Services.
Lenskart, which transitioned into a public limited company in May 2025, chose to file its DRHP through the traditional route, opting not to utilize SEBI’s confidential filing framework.
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