Lenskart Files Draft IPO Papers, Eyes ₹2,150 Crore Primary Raise in Move to Listing

Lenskart, the Mumbai‑headquartered omnichannel eyewear retailer, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), signalling the next phase of its planned IPO. During its annual general meeting on 26 July, shareholders approved the primary issuance of shares worth ₹2,150 crore (approximately $250 million). The broader IPO, including secondary share sales by existing investors, is expected to total between ₹6,300–₹8,500 crore (around $750 million to $1 billion).

Unlike several recent Indian startups that have opted for SEBI’s confidential filing route, Lenskart has chosen the standard public filing process. Under this route, all financials, risk factors and business plans become immediately accessible to investors, analysts and the public at large. This transparent approach underscores the company’s confidence in its fundamentals.

About Lenskart IPO

The Lenskart IPO is expected to value Lenskart at roughly $10 billion, nearly double its last private valuation. In April, Fidelity increased its internal valuation estimate to $6.1 billion—a more than 20% bump from earlier figures—reflecting rising optimism about Lenskart’s performance and growth potential. Lenskart converted into a public limited company in late May, changing its legal name from Lenskart Solutions Private Limited to Lenskart Solutions Limited, to comply with listing norms.

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About Lenskart

Founded in 2010 by Peyush Bansal, Amit Chaudhary and Sumeet Kapahi, Lenskart operates more than 2,000 retail outlets across India and overseas. The company combines technology‑driven eyewear manufacturing and distribution, marketing both online and offline through its omnichannel model.

Financially, Lenskart demonstrated considerable improvement in the fiscal year 2023–24. Revenue grew by 43% to ₹5,428 crore while losses narrowed sharply—down 84% to just ₹10.15 crore, compared with ₹63.7 crore in the previous year—demonstrating stronger margins and better operating discipline.

Several large investment banks, including Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley and Avendus, are expected to manage the IPO. Lenskart is joining a cohort of high‑profile Indian startups lining up public offerings in 2025 amid improving market sentiment and renewed investor appetite.

Conclusion

Lenskart is making its move to become a publicly listed company via a high‑visibility IPO poised to raise ₹8,500 crore at a $10 billion valuation. With robust financials, a clear growth trajectory and full public disclosure of its DRHP, Lenskart is positioning itself as a strong entrant into the Indian public markets. The eyewear firm’s transparent approach and institutional backing reflect a confident strategy ahead of its stock market debut.