Latest news with #LenskartSolutions
Time of India
30-07-2025
- Business
- Time of India
Lenskart files draft papers for Rs 8k crore IPO
BENGALURU: Lenskart Solutions is gearing up for one of the largest consumer-tech listings of the year, with its IPO expected to raise between Rs 7,500 crore and Rs 8,000 crore, people aware of the matter said. The company filed its draft red herring prospectus (DRHP) with market regulator Sebi on Tuesday. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
29-07-2025
- Business
- Time of India
Lenskart's files Rs 7,500-8,000 cr IPO papers with Sebi
BENGALURU: Lenskart Solutions is gearing up for one of the largest consumer-tech listings of the year, with its initial public offering (IPO) expected to raise between Rs 7,500 crore and Rs 8,000 crore, people aware of the matter said. The final size will depend on valuations at the time of listing. The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on Tuesday. The IPO consists of a fresh issue of shares worth Rs 2,150 crore and an offer for sale (OFS) of up to 13.23 crore shares by existing investors and promoters. A pre-IPO placement of up to Rs 430 crore has also been proposed, which could reduce the fresh issue size. Proceeds from the fresh issue will be used for the expansion of company-owned (CoCo) stores in India (Rs 272.62 crore), lease-related payments (Rs 591.44 crore), technology and cloud infrastructure (Rs 213.38 crore), and brand marketing (Rs 320.06 crore). The remainder will be allocated for inorganic acquisitions and general corporate purposes. As of March 31, 2025, Lenskart operated 2,723 stores globally, including 2,067 in India and 656 overseas. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Remember Him? Take A Deep Breath Before You See Him Now The Noodle Box Undo by Taboola by Taboola The company sold 27.2 million eyewear units in FY25, up from 21.2 million in FY24 and 15.9 million in FY23. Annual transacting customer accounts rose from 7.7 million in FY23 to 12.4 million in FY25, while its paid membership program, Lenskart Gold, reached 6.77 million members in India. Financially, the company swung from losses to profitability in FY24. In FY25, Lenskart reported revenue of Rs 6,653 crore, up from Rs 5,428 crore a year ago. Net profit rose more than fivefold during the same period, from Rs 59 crore to Rs 297 crore, driven by operating leverage and higher repeat purchases. Lenskart's apps have seen more than 100 million cumulative downloads, while its websites drew 105 million visitors in FY25. New customers, on average, purchased 3.62 pairs of glasses within two years, the filing revealed. The case of the missing degree Buried in Lenskart's DRHP is an oddly specific risk: one of its promoters, Sumeet Kapahi, who also heads global sourcing at the company, can't find his (Hons) degree or marksheets from the University of Delhi. He has emailed, written letters, and even applied through the university's online portal, but is still waiting for a response. Until then, Lenskart and its bankers have relied on the certificates he submitted for the IPO filing. The company admits there's no guarantee the university will ever send the documents, making this one of the more unusual disclosures in a multi‑thousand‑crore IPO draft. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
New Indian Express
29-07-2025
- Business
- New Indian Express
Online eyewear leader Lenskart files for over Rs 8,000 crore IPO
MUMBAI: Lenskart Solutions, which is a leader among the tech driven eyewear platform selling under the label of Lenskart, has filed for an over Rs 8,000 crore primary issue with the markets regulator Sebi. The leading omni-channel eyewear retailer offers a wide selection of affordable and fashionable prescription eyeglasses, sunglasses and contact lenses. The offer comprises a fresh issue of shares aggregating up to ₹21,50 crore and the rest in offers under which seven of its leading external investors will be selling. Though the exact amount they will be raised through the ofs will be known only after the price discovery it has been learnt that the ofs component will be in excess of tRs 6000 crore. The ofs involves sale of up to 132,288,941 or 13.3 crore shares by certain existing shareholders, including Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, who are the promoters and external investors such as SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia Mauritius, PI Opportunities Fund –II, Macritchie Investments, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP, according to the DRHP filed Tuesday. The company also said it may consider a pre-ipo placement aggregating to Rs 430 crore prior to filing of the RHP. 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 stores; investments in technology and cloud infrastructure; marketing and business promotion among others.
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.
Entrepreneur
26-06-2025
- Business
- Entrepreneur
Lenskart to File its DRHP with SEBI via Public Route
The Peyush Bansal-led startup has also taken clear steps towards going public by changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited, following approval from its existing shareholders. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Lenskart, the omnichannel eyewear maker, is reportedly taking the public route to file its draft red herring prospectus (DRHP), according to a report by MoneyControl. It was earlier speculated that the company might take the confidential route that does not reveal all the details related to the listing. The Peyush Bansal-led startup has also taken clear steps towards going public by changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited, following approval from its existing shareholders. According to the report, Lenskart is planning to file DRHP with the market regulator, Securities and Exchange Board of India (SEBI), in the first half of July, with earlier reports suggesting the process to be done in May. The company, however, has not disclosed any details regarding going public. The reports also state that Lenskart has chosen its banking partners for the issue, namely, Kotak, Axis Capital, Citi, Morgan Stanley, and Avendus. The listing is poised to raise USD 1 billion at a valuation of USD 10 billion. Earlier reports of Lenskart filing papers in May came after the company's top brass, Peyush Bansal, and key investors in the company had reportedly discussed matters around valuation with the banking institutions managing the potential billion-dollar listing. The reports, however, also said that the plans to go public were still based on market conditions closer to tentative dates. The company valuation that Lenskart is eyeing will be double its value during the last Series I, USD 262 million, plus an undisclosed sum funding round led by the likes of ChrysCapital, Infinity Partners, Chiratae Ventures, and Aditya Birla Capital. The eyewear retail unicorn, currently Series I, has previously raised USD 231 million in Series G funding from Tokyo-based SoftBank Vision Fund in its largest-ever funding round in 2019. This was followed by another USD 220 million in 2021 led by Alpha Wave Global, Temasek, Chiratae Ventures, Technology Venture Partners, IFC, and Bay Capital, with financial services firm Avendus facilitating both rounds, according to Tracxn. The 2021 funding round took Lenskart to a valuation of USD 2.4 billion with recorded revenue of USD 165 million, almost double the USD 1.4 billion in 2019. The company is now at USD 5.6 billion in valuation as of November 2024, with the FY2023-24 revenue recorded at USD 678.8 million. Lenskart currently is the market leader in its sector in India, with a 79 per cent market share, with retail stores across Southeast Asia, the Middle East, and the USA. The company's recent focus on the mass premium eyewear segment has also allowed it to compete with players such as Titan Eye.
