Latest news with #LenskartSolutionsLimited
Mint
29-07-2025
- Business
- Mint
IPO Watch: Lenskart files draft papers with SEBI for ₹2,150 crore-IPO
Lenskart Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). According to reports, 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 totaling up to ₹ 21,500 million, along with an offer to sell up to 132,288,941 equity shares by specific existing shareholders, such as Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, who are Promoter Selling Shareholders. Further, 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 Investor Selling Shareholders. The firm may consider a pre-IPO placement amounting to ₹ 430 crores 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. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Fashion Network
10-06-2025
- Business
- Fashion Network
Lenskart converts to public company as it gears up for IPO
Eyewear brand Lenskart has formally transitioned into a public company, marking a step towards its planned initial public offering, which could take place this financial year. The business' name has been changed from Lenskart Solutions Private Limited to Lenskart Solutions Limited. The reclassification, now filed with the Registrar of Companies, is a key procedural requirement ahead of listing on Indian stock exchanges, India Retailing reported. While Lenskart has yet to confirm the IPO's size or timeline, reports suggest the company may target a listing in the 2026 financial year, seeking to raise between $750 million and $1 billion at a valuation of $7 billion to $8 billion. Earlier this year, Kotak Mahindra Bank and Morgan Stanley were reportedly appointed as lead managers for the offering. Lenskart is also in discussions to secure a $1 billion pre-IPO round to bolster its financial position ahead of the listing. Founded in 2010, Lenskart operates over 2,500 stores across India, the UAE, Singapore, and Japan, with a user base of more than 20 million. In the 2024 financial year, the company reported an 84% reduction in net loss to Rs 10 crore and a 43% year-on-year increase in operating revenue to Rs 5,427.7 crore.
Time of India
09-06-2025
- Business
- Time of India
Lenskart becomes public limited company in preparation for IPO
Omnichannel eyewear brand Lenskart has converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. This comes at a time when Lenskart is considering raising a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round. The transition to a public company is a necessary step before filing its IPO papers. The Gurugram-based company closed a $200 million secondary round in June last year at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. On February 17, ET reported that the company has set its sights on filing draft papers in May, contingent on market conditions. However, the omnichannel eyewear retailer is yet to file its draft papers. Lenskart, which won the ET Startup Awards last year, has hit an annual revenue run rate of $1 billion (Rs 8,400 crore). The company produces 25 million frames and 30–40 million lenses annually and operates over 2,500 stores across India and Southeast Asia, maintaining a strong online presence. Lenskart's conversion into a public company was first reported by the news website Entrackr. With this, the SoftBank-backed company joins startups like Shiprocket, Zetwerk, PhysicsWallah , Boat, Bluestone, and others that are preparing for IPOs. Since its inception, Lenskart has closed nearly $2 billion in funding, including secondary sales. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. It is yet to file financial statements for 2024-25 with the Registrar of Companies (RoC).
