The regulator issued its final observations on October 3, paving the way for the Gurugram-based company to move ahead with its listing plans.
According to regulatory filings, Lenskart had submitted its draft red herring prospectus (DRHP) on July 31, with Kotak Mahindra Capital, Morgan Stanley, Citi, Avendus Capital, and Intensive Fiscal Services acting as book-running lead managers.
As reported earlier by ET, the company is expected to file its updated prospectus over the next few weeks and is targeting a mid-November debut on Indian bourses.
The eyewear retailer’s IPO will comprise a fresh issue of Rs 2,150 crore along with an offer-for-sale (OFS) component of 13.23 crore shares.
Existing shareholders, including founders Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary, as well as marquee investors SoftBank, Premji Invest, Temasek, Kedaara Capital, and Alpha Wave Global, will partially offload their holdings through the OFS route.Lenskart’s listing is being closely watched as it represents the next wave of new-age tech IPOs following the likes of Urban Company, Zomato, Nykaa, and Mamaearth.The company has built a strong omnichannel presence across India and international markets, combining online sales with over 2,500 stores globally.
Financially, Lenskart appears to be on firmer footing ahead of its market debut. It reported a net profit of Rs 297 crore in FY25, a sharp turnaround from a loss of Rs 10 crore in FY24. Revenue rose 22% year-on-year to Rs 6,625 crore, supported by expansion in its retail footprint and a growing global customer base.
Meanwhile, other companies have also received Sebi green light, including Wakefit Innovations, Tenneco Clean Air India, Shree Ram Twistex, Lamtuf, and Waterways Leisure Tourism.
However, Lenskart’s issue stands out both for its size and its timing as it could reignite investor appetite for consumer-tech stories, provided market conditions remain stable in the coming weeks.
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