IPO Gets the Green Light
India’s leading eyewear retailer Lenskart is officially set to hit the public markets after the Securities and Exchange Board of India cleared its draft red herring prospectus. The company will now join the growing list of Indian startups preparing for their stock market debut. The IPO will comprise a fresh issue of equity shares worth Rs 2,150 crore alongside an offer for sale of 13.2 crore shares by existing investors and promoters.
Promoter and Investor Participation
Among the promoters, Peyush Bansal will sell 2 crore shares, while Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will offload smaller stakes. The offer for sale will also see participation from marquee investors including SoftBank-backed SVF II, Alpha Wave Ventures, Temasek affiliates, Premji Invest, and Kedaara Capital. Currently, promoters collectively own just under 20 percent of the company, with the majority stake held by institutional and other shareholders.
Strong Financial Turnaround
The timing of the IPO aligns with Lenskart’s strong financial performance. The company reported a net profit of Rs 297.3 crore in FY25, a dramatic improvement from a loss of Rs 10.2 crore in the previous year. Revenues rose 23 percent year on year to Rs 6,652.5 crore, while gross margins expanded to nearly 69 percent on the back of operational efficiencies and scale. Over the past two years, the company has delivered a compound annual growth rate of 33 percent, underscoring its momentum.
Expansion Strategy Backed by IPO Proceeds
Lenskart plans to use the proceeds from the fresh issue to fuel its expansion strategy. The company has been scaling aggressively both in India and abroad, with over 2,000 stores globally and a strong omnichannel presence that combines online convenience with offline accessibility. Backed by global investors such as ADIA, Temasek, KKR, TPG, and Alpha Wave, Lenskart is well positioned to accelerate its global push and strengthen its leadership in India’s growing eyewear market.
A Growing List of Startup IPOs
The IPO approval comes at a time when several Indian startups, including Meesho, PhysicsWallah, and Groww, are also preparing to go public. With investor sentiment improving and the capital markets showing appetite for new age companies, Lenskart’s entry into the listed space is being closely watched by the market.
The Bigger Picture
Founded in 2008, Lenskart has evolved from an online-first eyewear startup to one of the largest omnichannel retailers in the world. Its journey to profitability, expanding footprint, and backing by marquee investors make its IPO one of the most anticipated in recent times. If the issue performs strongly, it could further boost confidence in India’s startup ecosystem and encourage more private companies to explore public listings.
Stay updated on the latest IPO news, startup listings, and investment trends. Follow You Finance on Instagram and Facebook for real time updates and market insights.
