Outlook Business Desk
Lenskart will launch its initial public offering (IPO) on October 31 and close subscriptions on November 4. The eyewear retailer’s market debut is scheduled for November 10.
The IPO includes a total issue size of ₹7,300 crore, comprising ₹2,150 crore in fresh equity shares and ₹5,128 crore through an offer for sale by existing investors.
The price band for the IPO is fixed between ₹382 and ₹402 per share, with each share having a face value of ₹2.
Lenskart’s public offering is expected to value the company at around ₹70,000 crore, or approximately $8 billion, reflecting its strong business momentum and investor demand.
Lenskart’s offer for sale (OFS) size has been trimmed from 132.3 million shares to 127.5 million after cofounder Neha Bansal’s ₹90 crore pre-IPO share sale at ₹402 per share.
Lenskart will allocate ₹272 crore to open new stores across India, ₹591 crore for leasing and rentals of 2,700 outlets, while another portion is reserved for acquisitions.
Founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will sell part of their stakes, alongside investors SoftBank, TR Capital, Kedaara Capital, and TPG Growth.
Lenskart’s India revenue rose 25% year-on-year to ₹1,169 crore in the April–June quarter, turning a ₹62 crore profit. International business contributed ₹736.5 crore, up 26%.