Lenskart IPO Draft Papers Filed: Opening Date, Price, Lot Size, All You Need To Know
Lenskart IPO: The eyewear company aims to raise Rs 2,150 crore (about $250 million) through a fresh issue of shares, according to a report.
Eyewear retailer Lenskart has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), according to a Moneycontrol report citing two sources familiar with the development.
Lenskart IPO Size
As per the report, the company aims to raise Rs 2,150 crore (about $250 million) through a fresh issue of shares. The total IPO size is expected to be in the range of $750 million to $1 billion, which will include an offer-for-sale (OFS) component by existing investors.
Lenskart IPO Opening Date
The proposal received shareholder approval at the company's annual general meeting on July 26.
As the DRHP has been filed, the date of the IPO is not known yet. Lenskart will announce the dates in due course of time.
Unlike other new-age startups such as Swiggy, Groww, Boat, PhysicsWallah, and Meesho, which have chosen or are considering the confidential filing route permitted by SEBI, Lenskart has opted for a standard DRHP filing, according to the report.
Back in February, the company was reportedly in discussions to appoint five investment banks — Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital — as advisors for the IPO.
Earlier this month, Lenskart co-founder and CEO Peyush Bansal was looking to buy a 1.5-2% stake in the eyewear retailer worth about $150 million from existing investors ahead of its planned IPO. Peyush was buying small stakes from a bunch of investors. This was being negotiated at around $7-8 billion valuation, according to a livemint report.
Existing investors like TR Capital, Chiratae, Softbank and Kedaara Capital are expected to sell their stake as part of the deal.
Lenskart has raised a total of $1.08 billion in 19 funding rounds, including its latest Series I round for $18.2 million on July 21, 2023. It has received investments from various firms, including SoftBank Vision Fund, TPG, and Chiratae Ventures.
In April 2024, Bansal took to LinkedIn to find leads on 25 acres of factory land available for purchase within 60 kilometers of Kempegowda Bengaluru International Airport. Bansal said that the company is looking for the land to build its next Mega Factory.
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