Eyewear unicorn Lenskart has filed its DRHP to go public, targeting an IPO worth nearly $1 billion. The issue includes a ₹2,150 crore fresh share sale and a secondary offer-for-sale (OFS) by major backers like SoftBank, Temasek, Kedaara Capital, and Alpha Wave Global. The company has also secured board approval to allot ₹430 crore worth of equity to select investors.
Peyush Bansal's Lenskart Eyes ₹8,000 Cr IPO, Files Draft Papers with Sebi
Lenskart has secured shareholder approval to raise ₹2,150 crore through a fresh equity issue as part of its upcoming IPO, which may total nearly $1 billion. The offering will include both new shares and a secondary sale by existing investors, as the company transitions into a public entity
Peyush Bansal's Lenskart Eyes ₹8,000 Cr IPO, Files Draft Papers with Sebi
Summary
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Omnichannel eyewear start-up Lenskart has filed a draft red herring prospectus (DRHP) to go public on Indian bourses. The issue comprises fresh capital and the offer-for-sale component, in which investors like SoftBank, Kedaara Capital, Alpha Wave Global, and Temasek will offload their stakes.
The platform has received its shareholders’ approval to raise ₹2,150 crore through a fresh issue of shares in the IPO (initial public offering) launch on July 28, CNBC TV18 reported. The fresh issue will also include a secondary offer for sale (OFS) by existing investors.
The Peyush Bansal-led start-up is expected to raise nearly $1 billion via IPO. It has received the board’s nod to allot equity shares valued up to ₹430 crore to certain investors, the report said.
It was recently converted into a public company, and changed it name from “Lenskart Solutions Private Limited” to “Lenskart Solutions Limited” during a general meeting on May 30, 2025.
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The start-up’s founder Peyush Bansal is also reportedly seeking to acquire a 1.5-2% stake in the eyewear retailer, which amounts to around $150 million, from existing investors ahead of the planned IPO.
Lenskart has opted for a public draft red herring prospectus (DRHP) filing, rather than the confidential route favoured by many recent Indian tech-enabled start-ups.
By publicly disclosing its financials, growth trajectory and profitability roadmap, Lenskart aims to build brand and investor confidence ahead of its IPO.
This transparent approach is also designed to attract a broader base of global institutional investors, including existing marquee backers such as Temasek, KKR, ChrysCapital and SoftBank, while demonstrating operational maturity at a time when markets remain cautious following a series of challenging tech listings.
Founded in 2010 by Peyush Bansal, Amit Chaudhary and Sumeet Kapahi to address gaps in an unorganised eyewear market, Lenskart distinguished itself with affordable, stylish frames sold online, supported by innovative services such as home eye check‑ups, virtual try‑ons and free home trials.
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By controlling its value chain from design and manufacturing to distribution, the company maintained stringent quality standards and competitive pricing. However, rising online customer acquisition costs and the challenge of building trust in eyewear purchases demanded a strategic shift.
In FY24, Lenskart reported revenue of ₹5,610 crore, a 43% increase year-on-year following 142.7% growth in FY23, yet recorded a net loss of ₹10 crore. With a workforce of 3,250 as of March 2024, the company’s significant investments in AI-driven supply chain systems, virtual try-on technology, and its Telangana manufacturing hub have not yet translated into positive profit after tax (PAT).
Despite strong revenue growth driven by its omnichannel expansion and global presence, Lenskart’s ₹10 crore net loss in FY24 underscores the challenge of balancing rapid scaling with sustainable unit economics.
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