In July, the eyewear retailer filed its DRHP with SEBI to drift its IPO, which is able to comprise a contemporary concern of INR 2,150 Cr and an OFS element of as much as 13.2 Cr shares
The OFS will see participation from promoters in addition to institutional traders like SoftBank, Temasek, Kedaara Capital, Alpha Wave Ventures, and others
Lenskart swung to the black in FY25, clocking a internet revenue of INR 297.3 Cr in opposition to an working income of INR 6,652.5 Cr within the fiscal below evaluate
Omnichannel eyewear big LensKart
has reportedly obtained market regulator Securities and Trade Board of India’s (SEBI) nod to undertake its preliminary public providing (IPO).
Whereas there has not been a public announcement, sources confirmed the event to Moneycontrol. With this, Lenskart joins the rising listing of homegrown startups headed to Dalal Road this yr.
This comes two months after the eyewear retailer filed its draft crimson herring prospectus (DRHP) with SEBI to lift as much as INR 2,150 Cr through contemporary concern of shares. The general public concern may even comprise a suggestion on the market (OFS) of as much as 13.2 Cr shares.
The OFS will see participation from promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi. Alongside, institutional traders corresponding to SoftBank, Temasek, Kedaara Capital, Alpha Wave Ventures, and others may even offload shares by means of the OFS.
The startup plans to utilise the contemporary proceeds from the IPO to construct and operationalise new company-owned and company-operated shops, upgrading its tech stack and bolstering advertising actions.
Based in 2010 by Bansal, Amit Chaudhury and Sumeet Kapahi, Lenskart is an omnichannel eyewear retailer that caters to clients in India, the UAE, Singapore, Spain and Japan. Whereas it primarily sells its choices by means of its web site and app, the corporate’s gross sales channel can also be supported by an in depth offline presence.
The corporate claims to have over 2,723 shops and a buyer base of two Cr.
Backed by ChrysCapital, Abu Dhabi Funding Authority and Temasek, the Gurugram-based startup has raised over $1.75 Bn up to now.
On the monetary entrance, the firm swung to the black and clocked a internet revenue of INR 297.3 Cr within the monetary yr 2024-25 (FY25) in comparison with a internet lack of INR 10 Cr within the earlier fiscal yr. In the meantime, its income from operations grew 22.6% to INR 6,652.5 Cr within the fiscal below evaluate as in opposition to INR 5,427.7 Cr in FY24.
The go forward for the IPO comes at a time when a rising variety of new-age tech firms are making a beeline for the exchanges. Whereas seven startups have already made their public market debuts to date this yr, Zappfresh is ready to change into the eighth firm to listing on the exchanges.
In addition to, new-age tech firms like Capillary Applied sciences, Aequs, Pine Labs and boAt have additionally obtained the nod from the regulator for his or her IPOs previously month.
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