Lenskart Files for ₹8,000 Crore IPO with Fresh Issue and Major Stake Sale
The company proposes to utilise the net proceeds from the fresh issue for various strategic initiatives
Mumbai: Eyewear company Lenskart Solutions, an omni-channel eyewear retailer, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue of ₹2,150 crore and an offer for sale of over 13.22 crore shares. The total estimated public offer size is around ₹8,000 crore.
The offer for sale of over 13.22 crore equity shares will be made by promoter selling shareholders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi. Investor selling shareholders include Schroders Capital, MacRitchie Investments, Kedaara Capital, Lightbulb, and Alpha Wave Ventures.
The company proposes to utilise the net proceeds from the fresh issue 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 stores; investments in technology and cloud infrastructure; brand marketing and business promotion to enhance brand awareness; inorganic acquisitions; and general corporate purposes.
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.
It owns and operates frame and lens design and prescription eyeglasses manufacturing facilities at two locations in India—Bhiwadi, Rajasthan and Gurugram, Haryana—supplemented by regional facilities in Singapore and the United Arab Emirates.