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News18
29-07-2025
- Business
- News18
Eyewear retailer Lenskart files IPO papers to raise Rs 2,150-cr via fresh issue
New Delhi, Jul 29 (PTI) Lenskart Solutions Ltd, an omni-channel eyewear retailer, has filed preliminary papers with capital markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The Gurugram-based company's IPO involves raising Rs 2,150 crore through fresh issuance of equity shares. Besides, promoters and investors would offload 13.22 crore equity shares, according to the draft red herring prospectus (DRHP) filed on Monday. As a part of the OFS, promoters — Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi; investors — SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund – II, Macritchie Investments Pte Ltd, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP — would offload shares. Lenskart proposes to utilise the proceeds from the IPO for various strategic initiatives, including Rs 272.6 crore capital expenditure for setting up new Company-operated Company-owned (CoCo) stores in India and Rs 591.44 crore for payments related to lease, rent, and license agreements for these CoCo stores. Additionally, Rs 213.37 crore will be used for investments in technology and cloud infrastructure; Rs 320 crore for brand marketing and business promotion for enhancing brand awareness and the remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes. Also, the company may consider a pre-IPO placement aggregating to Rs 430 crore. If such a placement is undertaken, the fresh issue size will be reduced accordingly. Founded in 2008, Lenskart commenced operations in India as an online business in 2010 and opened its first retail store in New Delhi in 2013. The company's business spans across designing, manufacturing, branding and retailing. Lenskart is India's largest organised retailer of prescription eyeglasses in terms of B2C eyeglasses sales volumes during financial year 2025, according to the Redseer Report. It has a strong presence across metro, Tier 1 and Tier 2 cities and international operations in Southeast Asia and the Middle East. Lenskart operates business through 2,723 stores globally, comprising 2,067 stores in India and 656 stores internationally. Its mobile applications had over 100 million cumulative app downloads as of March 2025. The company has manufacturing facilities at two locations in India – in Bhiwadi, Rajasthan and Gurugram, Haryana – supplemented by regional facilities in Singapore and the United Arab Emirates. It targets different customer categories through a portfolio of brands and sub-brands that include premium collections through John Jacobs and Owndays (acquired in 2022), and economy and affordable premium collections through Lenskart Air, Vincent Chase, hustlr, and Hooper Kids. On the financial front, Lenskart turned profitable in FY25 with a net profit of Rs 297.3 crore after posting a loss of Rs 10.15 crore in FY24. It reported an EBITDA (earnings before interest, taxes, depreciation and amortisation) or operating profit of Rs 1,115 crore, an increase from Rs 763 crore a year earlier. The company clocked revenues of Rs 6,652 crore in FY25, an increase from Rs 5,428 crore in the preceding fiscal. Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services have been appointed to manage the maiden public issue. PTI SP SP DRR SHW view comments First Published: July 29, 2025, 15:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
29-07-2025
- Business
- Mint
IPO Watch: Lenskart files draft papers with SEBI for ₹2,150-crore IPO
Lenskart IPO: Lenskart Solutions has filed its Draft Red Herring Prospectus (DRHP) with the capital market regulator Securities and Exchange Board of India (SEBI). The company is a top omni-channel eyewear retailer in India, providing a diverse range of stylish and budget-friendly prescription glasses, sunglasses, and contact lenses. The offer includes a fresh issue of equity shares, totalling up to ₹ 21,500 million, along with an offer for sale (OFS) of up to 132,288,941 equity shares. Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi are the promoter selling shareholders. Meanwhile, SVF II Lightbulb (Cayman) Limited, Schroders Capital Private Equity Asia Mauritius Limited, PI Opportunities Fund – II, Macritchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP, are the investor selling shareholders looking to offload stake via OFS. The firm may consider a pre-IPO placement amounting to ₹ 430 crore before submitting the Red Herring Prospectus (RHP). Should this occur, it will reduce the size of the fresh issue. The company intends to use the net proceeds from the IPO for various strategic purposes, including capital expenditures for establishing new Company-operated Company-owned (CoCo) stores in India; settling payments related to lease, rent, and licensing agreements for these CoCo stores; investing in technology and cloud infrastructure; enhancing brand recognition through marketing and business promotion; pursuing potential unidentified inorganic acquisitions; and addressing general corporate needs. The book running lead managers for the issue are Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Pvt Ltd, Avendus Capital Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Axis Capital Ltd, and Intensive Fiscal Services Pvt Ltd. Founded in 2008, Lenskart began its journey in India as an online venture in 2010 and opened its first physical store in New Delhi in 2013. Presently, the brand's business has robust presence in metropolitan areas, Tier 1, and Tier 2+ cities, alongside international operations in Southeast Asia and the Middle East. In FY25, it reported an EBITDA of ₹ 1,115 crore, rising from ₹ 763 crore the previous year and ₹ 302 crore, representing a CAGR of 92%. Over the last three fiscal years, EBITDA margins have grown consistently from 8% to 14% and currently stand at 17%. In FY25, Lenskart introduced 105 new collections that were designed and engineered in-house globally. The scale of in-house manufacturing has significantly increased: frame production surged from 4.4 million to 6.4 million units over three years, while lens production nearly doubled to 4.1 million units.
News18
29-07-2025
- Business
- News18
Lenskart Promoter Sumeet Kapahi Can't Find DU Degree, Reveals IPO Filing
Last Updated: Lenskart promoter Sumeet Kapahi lost his B-Com (Hons) degree from Delhi University. Lenskart plans to raise Rs 2,150 crore via IPO, including an offer-for-sale by key shareholders. Lenskart IPO: One of the promoters of Lenskart, Sumeet Kapahi, couldn't find his B-Com (Hons) degree and marksheet from the University of Delhi, as revealed in the DRHP filed by the eyewear on Tuesday with Sebi. Kapahi has written several emails to the university, but no response has come yet. Eyewear company Lenskart is eyeing to raise Rs 2,150 crore through fresh issue. The IPO will also contain an offer-for-sale of 132.28 million shares, in which major shareholders are founders Peyush and Neha Bansal along with investors Softbank, PremjiInvest, Kedaara Capital and Temasek. 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. 'One of our promoters, Sumeet Kapahi, who is also the Global Head of Sourcing of our Company, has been unable to trace the copies of his (Hons). degree and marksheets form the University of Delhi," Lenskart DRHP said. It added that Kapahi had written multiple emails, and a letter to the concerned university requesting for a copy of his degree certificate, and has applied for the copies of the marksheets on the portal of the university on its websites as well. 'There is no assurance that the university will respond to such emails and letter in a timely manner, or at all," the DRHP added. Lenskart IPO More Info The offer comprises a fresh issue of equity shares aggregating up to Rs 21,500 million (the 'fresh issue") and an offer for sale of up to 132,288,941 equity shares by certain existing shareholders, including Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, Promoter Selling Shareholders and SVF II Lightbulb (Cayman) Limited, Schroders Capital Private Equity Asia Mauritius Limited, PI Opportunities Fund – II, Macritchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP, Investor Selling Shareholders. It may consider a pre-ipo placement aggregating to Rs 430 crore prior to filing of the RHP. If undertaken, it will be reduced from the fresh issue size. The company proposes to utilise the net proceeds from the IPO for various strategic initiatives, including capital expenditure for setting up new Company-operated Company-owned (CoCo) stores in India; payments related to lease, rent, and license agreements for these CoCo stores; investments in technology and cloud infrastructure; brand marketing and business promotion to enhance brand awareness; potential unidentified inorganic acquisitions; and general corporate purposes. In FY 25, across its brands, it launched 105 new in-house designed and engineered collections globally, including in collaboration with popular brands and celebrities. Additionally, it sold 27.2 million eyewear units across 12.41 million customer accounts in India and Overseas. Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Pvt Ltd, Avendus Capital Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Axis Capital Ltd, Intensive Fiscal Services Pvt Ltd are the Book Running Lead Managers to the Issue. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
