Lenskart Gets Shareholder Nod To Raise INR 2,150 Cr in IPO; Overall Issue May Hit $1 Bn
India’s leading omnichannel eyewear retailer Lenskart has taken a major step toward its highly anticipated initial public offering (IPO). The company has secured shareholder approval to raise INR 2,150 crore (approximately $248.7 million) through a fresh issue of shares, according to regulatory filings accessed by Inc42.
This fresh issue is a part of Lenskart’s larger IPO plan, which is expected to total around INR 8,500 crore ($1 billion), making it one of the largest public listings by an Indian consumer tech company in recent years.
IPO to Include Offer for Sale (OFS) by Existing Investors
Alongside the fresh issue, Lenskart’s IPO will also include a secondary component—an offer for sale (OFS)—where existing investors will offload part of their stakes. The exact size of the OFS component has not been disclosed yet but will be a significant part of the overall IPO structure.
According to the filings with the Ministry of Corporate Affairs (MCA), the IPO remains subject to regulatory, corporate, and market approvals. The company has proposed to list its equity shares on the BSE Limited and the National Stock Exchange (NSE) of India, with flexibility to include other exchanges as determined by its board.
Lenskart’s Market Position and Growth Trajectory
Founded in 2010 by Peyush Bansal, Lenskart has grown into one of India’s most recognized D2C (direct-to-consumer) brands. With a strong online presence and an expansive offline retail footprint across metros and Tier-II and Tier-III cities, the brand has revolutionized the way Indians buy eyewear.
The omnichannel retailer offers a wide range of eyeglasses, sunglasses, and contact lenses, combining AI-powered virtual try-ons, home eye tests, and fast delivery for a seamless customer experience. Over the past few years, Lenskart has attracted substantial investor interest, with funding from SoftBank, KKR, Temasek, and Premji Invest, among others.
The move toward an IPO signals Lenskart’s transition into the next phase of growth, as it continues to scale operations in India and expand internationally, particularly in Southeast Asia and the Middle East.
What the IPO Means for the Indian Startup Ecosystem
Lenskart’s upcoming IPO comes at a time when several Indian startups are gearing up for public listings, signaling increased maturity and confidence in the domestic startup ecosystem. If successful, the INR 8,500 crore IPO could serve as a benchmark for other consumer-facing tech startups, potentially reigniting IPO activity in Indian capital markets.
With strong brand equity, diversified sales channels, and a proven revenue model, Lenskart is poised to attract institutional and retail investors alike. The IPO proceeds from the fresh issue are expected to be used for business expansion, debt repayment, marketing, and tech development.
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