Lenskart IPO: Shareholders approve Rs 2,150 crore initial public offering; DRHP filing likely soon, says report
initial public offering
plans at the company's annual general meeting held on Saturday. The omnichannel eyewear firm plans to raise Rs 2,150 crore ($250 million) as part of the public issue, which could reach up to $1 billion in total size, according to ET citing people familiar with the matter.
The company is expected to file its draft red herring prospectus (DRHP) with Sebi in the coming days, joining a growing list of new-age ventures—such as Meesho, Groww, Pine Labs, and PhysicsWallah—that are preparing to tap public markets in 2025. Collectively, over 14 such firms aim to raise more than Rs 20,000 crore this year, ET reported.
Filings showed that shareholders, including SoftBank, Kedaara Capital, Abu Dhabi Investment Authority, Fidelity, and Temasek, also approved the adoption of a new employee stock option plan—Esop 2025—comprising 7.2 million shares.
As per data from Tracxn, around 19% of Lenskart's shares are currently allocated to its Esop pool.
ET had reported on July 10 that the company plans to issue additional shares to founder and CEO Peyush Bansal via a structured payout, potentially increasing his holding by 1.5-2%. Bansal and his sister Neha Bansal, who is also a cofounder, together own 14-15% of the company.
Lenskart, which won the ET Startup Awards 2024 in the Startup of the Year category, operates in India and international markets such as the Middle East, Southeast Asia, Australia, Japan, and South Korea.
In FY24, the company's operating revenue rose 43% year-on-year to Rs 5,428 crore, while net loss narrowed to Rs 10 crore from Rs 64 crore in the previous fiscal.
In an October interview with ET, Peyush Bansal said Lenskart was investing $200 million in a new manufacturing plant in southern India. Currently, the company manufactures frames and lenses at its facility in Rajasthan.
Lenskart was valued at $5 billion in its last funding round in June 2024.
US-based Fidelity marked up the eyewear brand's valuation by more than 20% to $6.1 billion as of April-end.
The company's omnichannel strategy—blending online sales with over 2,500 retail outlets—has been a key growth driver. While online revenues have outpaced offline growth over the last 2–3 years, Lenskart continues to expand its store network aggressively.
Filings also revealed that PaySense cofounder Sayali Karanjkar and IndMoney founder Ashish Kashyap have joined the board as independent directors. Peyush Bansal has been appointed as chairman, managing director and CEO, while Neha Bansal and cofounder Amit Chaudhary have been named executive directors.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fibre2Fashion
17 minutes ago
- Fibre2Fashion
Veolia grows US footprint with Chameleon Industries acquisition
Veolia, a leading integrated provider of environmental services in the U.S., announced that it has completed the acquisition of Chameleon Industries, a Texas-based producer of specialty chemicals. The company's circular economy technology uses byproducts from the semiconductor manufacturing process in its proprietary applications, reduces waste and creates beneficial products for industry. The acquisition will expand Veolia's leadership in providing innovative environmental solutions to advanced manufacturing and technology companies across North America. Veolia has acquired Texas-based Chameleon Industries, a specialty chemicals producer using circular economy technology to repurpose semiconductor byproducts. The move enhances Veolia's environmental solutions for advanced manufacturing. Chameleon's fit aligns with Veolia's Green Up plan, expanding services across 200+ U S sites and 2,300 employees. Chameleon operates four production facilities in Texas, Oregon and Arizona that recover byproducts of semiconductor manufacturing for beneficial reuse. This circular economic solution helps manufacturers reduce their environmental impact and improve efficiency. This focus aligns with Veolia's Green Up strategic plan. The company is dedicated to safety, product quality, environmental compliance and product stewardship throughout its supply chain. Bob Cappadona, President and Chief Executive Officer of Veolia North America's Environmental Solutions and Services business said: 'We are thrilled for Chameleon to join Veolia through this acquisition. As part of our Green Up strategy, adding this critical circular economy technology to our wide portfolio of environmental and infrastructure solutions helps expand our capabilities for customers and play an important role in the growth of America's technology sector. The team at Chameleon is a great strategic and cultural fit for our growing business in North America.' Jared Garza, Chief Executive Officer of Chameleon said: 'By joining Veolia's global network of chemical recovery and environmental service operations, Chameleon will be able to better serve our customers, grow our business for the long term and provide opportunities for our people. Veolia is already an established environmental leader in the microelectronics industry, and will allow us to bring our technology to a broader segment of the industry.' In the United States, Veolia provides a full range of waste management services, from collection to transportation to recycling and disposal. With this acquisition, the group will now employ more than 2,300 people at over 200 locations across the country, providing safe, customized services for large manufacturers in fields such as technology, healthcare and pharmaceutical and petro and agriculture chemicals. The business is also a hub of innovation to support environmental sustainability, developing pioneering solutions for the recycling and repurposing of a wide range of materials including wind energy blades and industrial solvents. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
&w=3840&q=100)
First Post
17 minutes ago
- First Post
Trump strikes 'biggest ever' trade deal with EU: Here's what we know, what we don't
The US and European Union have struck a landmark trade deal imposing a 15 per cent tariff on most EU goods, averting Trump's threatened 30 per cent levy. The agreement promises $750 billion in US energy sales and $600 billion in EU investments, but leaves key issues unresolved read more The United States and the European Union have struck one of the most consequential trade agreements in recent years. Announced by US President Donald Trump and European Commission President Ursula von der Leyen during Trump's visit to Scotland, the pact establishes a 15 per cent tariff on most EU exports to America, replacing the looming threat of a 30 per cent levy that would have taken effect on August 1. While hailed as a breakthrough, the framework leaves crucial gaps unresolved. STORY CONTINUES BELOW THIS AD Both sides have presented the deal as a way to prevent a transatlantic trade confrontation, yet analysts are now parsing the details to understand exactly what has been agreed — and where negotiations must continue. The headline numbers: a 15 per cent tariff, billions in investment and major energy commitments. At the centre of the announcement is a 15 per cent tariff applied to 'the vast majority' of European goods shipped to the US — a rate lower than Trump's earlier proposals of 20 per cent and subsequent threats of 50 per cent and then 30 per cent, but still a dramatic jump from the near-zero tariff environment that existed before Trump's return to the White House. The deal is tied to two large European commitments. First, von der Leyen confirmed that the EU would purchase $750 billion (638 billion euros) worth of US natural gas, oil, and nuclear fuel, part of its continuing effort to pivot away from Russian energy sources. Second, European entities would invest $600 billion (511 billion euros) into the US economy, though the sources of this investment have not yet been disclosed. Standing alongside von der Leyen in Scotland, Trump celebrated the outcome, saying: 'I think this is the biggest deal ever made,' and praised the agreement as an expansion of US-EU ties. STORY CONTINUES BELOW THIS AD He argued that the deal would benefit both sides, claiming it would stabilise trade and create new opportunities for American farmers, energy companies and manufacturers. Von der Leyen, who led months of complex negotiations on behalf of the European Commission, described Trump as a 'tough negotiator' and acknowledged the compromise: 'The 15% rate was the best we could do.' She added that the deal would 'bring stability' and 'predictability' for companies on both sides of the Atlantic. Zero tariffs on these 'strategic' goods Although the 15 per cent tariff applies broadly — including on key sectors like cars, semiconductors and pharmaceuticals — there are notable carve-outs. Both sides agreed to zero tariffs on certain 'strategic' goods: Aircraft and aircraft parts Select chemicals Some generic drugs Semiconductor production equipment A range of agricultural items Critical raw materials and natural resources Von der Leyen stressed that the list is not final: 'We will keep working to add more products to this list.' Even with these exemptions, major questions linger. Tariff treatment for spirits remains unresolved, an issue of particular sensitivity given its impact on producers and consumers in both the US and the EU. Pharmaceuticals — a massive trade category — were intentionally left off the main deal. 'Pharmaceuticals were on a separate sheet of paper,' von der Leyen explained, meaning discussions will continue separately. A major flashpoint is steel. Trump made clear that his administration's 50 per cent tariff on imported steel — introduced earlier as part of his broader trade agenda — would remain in place. STORY CONTINUES BELOW THIS AD Von der Leyen signalled a willingness to keep talking about potentially replacing that tariff with a quota system, which would cap the amount of steel allowed into the US at lower duty rates. What this means for Americans & Europeans While the 15 per cent tariff avoided the heavier blow of 30 per cent, it still represents a seismic change. Prior to Trump's presidency, average US tariffs on European goods hovered around 1–1.5 per cent; the European Union's own tariffs on American products were similarly low. Trump himself had instituted a 10 per cent 'baseline tariff' while negotiations were ongoing — high enough that the European Commission downgraded its 2025 growth forecast from 1.3 per cent to 0.9 per cent earlier this year. The new tariff effectively cements that higher-cost reality. Import taxes of this scale force two choices for companies selling into the US market: raise prices for American consumers — risking market share — or absorb the cost through lower profit margins. European exporters are bracing for the impact. The Federation of German Industries warned of serious consequences, with senior official Wolfgang Niedermark stating: 'Even a 15 per cent tariff rate will have immense negative effects on export-oriented German industry.' STORY CONTINUES BELOW THIS AD Trump insists that the tariffs are a tool for fairness, pointing to the long-standing trade imbalance between the two economies. Before his return to office, the US-EU trade relationship — worth around €1.7 trillion ($2 trillion) annually — was largely balanced in services but heavily tilted in goods: in 2024, the EU posted a €198 billion trade surplus with the US. How Europe has reacted Reactions in Europe have been cautious but largely positive — driven by relief that a full-scale trade war has been avoided. German Chancellor Friedrich Merz welcomed the outcome, saying it prevented 'an unnecessary escalation in transatlantic trade relations' and preserved 'our core interests.' He added, however, that 'I would have very much wished for further relief in transatlantic trade.' Markets showed mild optimism. The euro rose about 0.2 per cent against the dollar, sterling, and yen within an hour of the announcement — a sign that investors were reassured by the removal of Trump's August 1 tariff threat. Economists, however, are urging caution. Carsten Brzeski, global chief of macroeconomics at ING, summed up the hesitation, 'The big caveat to today's deal is that there is nothing on paper, yet. With this disclaimer in mind and at face value, today's agreement would clearly bring an end to the uncertainty of recent months. An escalation of the US-EU trade tensions would have been a severe risk for the global economy. This risk seems to have been avoided.' STORY CONTINUES BELOW THIS AD What about the auto industry Among the industries most affected by Trump's tariffs is the European auto sector. Until now, European carmakers had been paying a 27.5 per cent tariff — made up of Trump's 25 per cent tariff on all imported cars plus the preexisting 2.5 per cent duty. The new agreement cuts that total to 15 per cent, a meaningful reduction but still far above historical norms. Von der Leyen pointed out that the new rate is 'much lower' than the current burden, making it easier for carmakers to sell into the US. Yet for major automakers, the damage has already been done. Volkswagen reported a €1.3 billion ($1.5 billion) hit to profits in the first half of 2025 alone due to higher tariffs. Mercedes-Benz, while somewhat shielded by its Tuscaloosa, Alabama production plant — which makes 35 per cent of Mercedes vehicles sold in the US — warned of 'significant increases' in car prices in coming years. Dealers have said they are holding prices steady 'until further notice,' but acknowledge hikes are coming. Japan deal with a lot of holes The new EU agreement resembles the framework Trump struck with Japan a week earlier, which carried a $550 billion price tag. Like that deal, the EU pact leaves major details unsettled and is being cast by the White House as a victory in its push to 'rebalance' global trade. Trump has long argued that the EU was formed to disadvantage the US economically. He has claimed that tariffs have generated 'hundreds of billions of dollars' in revenue for the American government and dismissed warnings from economists about inflationary effects. STORY CONTINUES BELOW THIS AD This latest deal fits into his administration's broader goal of signing '90 deals in 90 days' — a goal officials admit hasn't been met, but which has already yielded agreements with UK, Japan, Indonesia and Vietnam. Senior US officials underscored the scale of this latest accord. 'Remember, their economy is $20 trillion … they are five times bigger than Japan,' one official said during a briefing to reporters. 'So the opportunity of opening their market is enormous for our farmers, our fishermen, our ranchers, all our industrial products, all our businesses.' Why the deal is still incomplete Not every issue was resolved in Scotland. Spirits remain a particularly thorny topic, with both US bourbon makers and European wine and liquor producers awaiting clarity on whether they will face tariffs. Steel and aluminium, too, remain at the top of the agenda. Trump is keeping the 50 per cent steel tariff intact, while the EU is pushing for talks to turn it into a quota-based system. There's also the question of pharmaceuticals and non-tariff barriers. US officials claim Europe has agreed to reduce some of these regulatory barriers for automobiles and certain agricultural goods — but EU officials counter that the specifics are still under discussion. STORY CONTINUES BELOW THIS AD Trump has also reserved the right to raise tariffs again if the EU fails to follow through on its investment and energy-buying pledges, according to senior administration figures. The US and EU together represent 44 per cent of global GDP, and their trade flows total nearly €1.7 trillion ($2 trillion) annually. For decades, this partnership thrived on low tariffs and deep economic integration, with US goods tariffs averaging 1.47 per cent and EU tariffs on U.S. products averaging 1.35 per cent, according to the Brussels-based Bruegel think tank. Trump's tariffs — starting with steel, then cars, and now a sweeping 15 per cent rate — have disrupted that status quo. With inputs from agencies
Deccan Herald
17 minutes ago
- Deccan Herald
Amagi Media Labs to raise Rs 1,020 crore; files DRHP with SEBI
Amagi proposes to utilise the net proceeds of the fresh issue towards investment in technology and cloud infrastructure (Rs 667 crore); funding inorganic growth through unidentified acquisitions and general corporate purposes.
