Lenskart, Wakefit Get Sebi Approval for IPOs as New-Age Listings Queue Up

Summary

Sebi clears IPOs for Lenskart and Wakefit, advancing public-listing timelines
Lenskart DRHP includes ₹2,150 crore fresh issue plus offer-for-sale
Wakefit proposes ₹468.2 crore fresh issue to fund COCO retail expansion
Both firms readying price bands and roadshows; Lenskart eyed for mid-November listing

Market regulator Sebi has granted approval for the initial public offerings of eyewear retailer Lenskart Solutions and home-furnishings firm Wakefit Innovations, clearing two of the most-watched new-age listings in the market this year.

The moves bring both companies a step closer to tapping public equity to fund expansion, technology spend and brand initiatives.

Lenskart DRHP

Lenskart’s DRHP has received Sebi observations for an offer that includes a fresh issue of up to ₹2,150 crore and an offer-for-sale by existing shareholders amounting to about 13.22 crore equity shares, the company’s filing shows.

The retailer, which filed its DRHP on July 31 and appointed Kotak Mahindra Capital, Morgan Stanley, Citi, Avendus and Intensive Fiscal as book-running lead managers, is aiming for a mid-November listing window, according to market sources.

The IPO proceeds are slated for store roll-out, technology and cloud infrastructure, marketing and potential inorganic opportunities.

Wakefit’s ₹468.2Cr Fresh Issue Plan

Bengaluru-based Wakefit, which filed its DRHP earlier in June–July, has also received Sebi’s go-ahead.

The company’s proposed public offer comprises a fresh issue of up to ₹468.2 crore alongside an offer-for-sale of roughly 5.8 crore shares by promoters and investors. Wakefit has said it will deploy IPO proceeds to expand its COCO retail footprint, strengthen manufacturing and upgrade brand and marketing efforts as set out in its draft prospectus.

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Eyes on IPO

Both approvals underscore continued investor and regulator interest in high-growth consumer and D2C platforms, at a time when several tech-era companies are seeking public exits.

Lenskart’s listing, in particular, is being watched as a marquee new-age IPO that could set the tone for other consumer tech listings this quarter, while Wakefit’s offering targets capital to scale retail and production capabilities in a large but fragmented home-furnishings market.

With Sebi observations in place, both firms will now finalise their price bands and launch investor roadshows ahead of share sale dates to be announced.

Investors and market watchers will be looking for final subscription details and timing amid a cautious IPO environment where valuation and demand will determine how these new listings perform on listing day.

Along with Lenskart and Wakefit Sebi has also approved IPO proposals of Tenneco Clean Air India, Shree Ram Twistex, Lamtuf and Waterways Leisure Tourism.