Omnichannel eyewear retailer Lenskart has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), marking a major milestone in its growth journey. The approval comes two months after the company filed its draft red herring prospectus (DRHP) in July 2025.
IPO Structure
The offering will include a fresh issue of ₹2,150 crore, along with an Offer for Sale (OFS) of up to 13.2 crore shares by existing investors. The OFS will be led by marquee stakeholders including SoftBank, Temasek, Schroders Capital, Premji Invest, Kedaara Capital, and Alpha Wave. SoftBank, Lenskart’s largest external investor, is expected to sell the biggest portion, while co-founder and CEO Peyush Bansal will offload 2.05 crore shares.
Use of Proceeds
Funds from the fresh issue will be directed toward expanding company-owned stores (CoCo), technology upgrades, brand marketing, lease obligations, and other corporate initiatives. The push aims to strengthen Lenskart’s retail footprint and digital ecosystem in India and abroad.
Business Snapshot
Founded in 2010 and headquartered in Gurugram, Lenskart has raised more than $1.8 billion in funding to date, according to startup data platform TheKredible. As of the DRHP filing, SoftBank holds a 15.04% stake, followed by the Abu Dhabi Investment Authority (ADIA) at 12.45%.
Financially, the company reported ₹6,653 crore revenue in FY25, a 22.6% increase from FY24. Profitability also improved significantly, with Lenskart swinging from a ₹10 crore loss in FY24 to a net profit of ₹297 crore in FY25.
Industry Context
With SEBI’s nod, Lenskart joins a wave of upcoming listings including boAt, Capillary Technologies, Groww, and Pine Labs, signaling strong investor appetite in India’s consumer-tech and retail sector.
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