Lenskart files DRHP with Sebi to raise ₹2,150 crore in fresh capital via IPO

Lenskart, India's leading eyewear retailer in news headlines making highlights for its big move regarding filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The enterprise aims to raise ₹2,150 (about $250 million) via a fresh issue of equity shares. This IPO additionally includes an offer for sale(OFS)  available on the market of 132.28 million shares through way of existing investors and promoters.

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Shareholder Participation in OFS

The Offer for Sale (OFS) will see participation from several key investors, together with SoftBank, Temasek, Schroders Capital, PI Opportunities Fund, Kedaara Capital, and Alpha Wave. SoftBank is in a move forward slated to sell off the most essential element and largest portion core part amongst institutional shareholders, major offering 2.55 crore shares. 

Other extensive sellers encompass Schroders Capital (1.91 crore shares), PI Opportunities Fund (87 lakh shares), and Temasek (78.5 lakh shares). Promoters and key management employees, which includes co-founder and CEO Peyush Bansal (2.05 crore stocks), Neha Bansal (57.3 lakh stocks), and Amit Chaudhary (28.6 lakh stocks), are also taking components in the OFS. 

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Sumeet Kapahi, one of the founding group's early individuals and Global Head of Sourcing, is supposed to offer 28.6 lakh shares and acquire his organization stock at an average weighted cost of ₹8.11 per share. Notably, the organization determined in its DRHP that Sumeet Kapahi's B.Com (Hons.) degree certificate and marksheets from the University of Delhi are not traceable.

Lenskart Financial Performance

Lenskart has examined large financial growth, with profits growing via approach of 22.5% year-on-year to ₹7,009 crore in FY25 from ₹5,609 crore in FY24. The company achieved significant profitability in FY25 and showcased potential growth that made a frame, reporting a net profit of ₹297 crore, a notable turnaround from a loss of ₹10 crore in FY24. 

Lenskart's revenue from operations rose commanding high in demand in Pre IPO buzz and consistently surged by 43% to ₹5,609 crore in FY24 from ₹3,927 crore in FY23. In FY25, the total revenue showed a dramatic move upwards approximately ₹6,415 crore (around $755 million), with India contributing $455 million (₹3,865 crore) and international operations accounting for $300 million (₹2,550 crore).

The enterprise organisation's gross margin became 70% in FY25, with unusual value prices of $8 (₹680) and common selling prices of $28 (₹2,380). Lenskart's EBITDA margins were 18-22% in FY25. As of March 2024, Lenskart's popular debt stood at ₹4.97 billion. The company's preferred borrowing as of March 31, 2025, have become ₹345.94 crore, a decrease from ₹497.15 crore within the previous financial year.

Market Presence and Business Strategy

Incorporated in 2010, Lenskart is India's largest eyewear retailer having been a strategic giant with gradual efforts with a strategic double check and recent amendments in valuation of ₹52,533 crore as of June 13, 2025. It operates on a strategic outlet process comprising direct-to-consumer model, offering a wide range of eyewear products under its own brands and sub-brands, including prescription eyeglasses, sunglasses, and contact lenses. 

As of March 31, 2025, Lenskart had 2,723 recently increased stores globally, with 2,067 in India and 656 internationally. The commercial organization and industrial enterprise approach heavily makes a speciality of competitive expansion, geographically and via an enhanced and wider omnichannel presence. This consists of putting in place new grand outlets, making an investment in technology and cloud infrastructure, and developing present day product offerings. 

The business enterprise additionally uses era which incorporates AI-powered digital attempts for try-on capabilities, that have contributed to over 20 million app downloads, and automated manufacturing and robotics for precision in lens reducing. Additionally, Lenskart gives home eye-checkup services completed through licensed optometrists, enhancing comfort and accessibility for clients.

Lenskart Valuation Narrative

With its IPO exercise, Lenskart is targeting a valuation in the ballpark of $8–9 billion (₹70,000–75,000 crore)—a sharp upward revision from $5 billion in mid-2024. IPO filings and commentary suggest aspirational valuation targets closer to $10 billion (₹85,000 crore), supported by robust growth and improved financial health. In choosing a public DRHP route—rather than SEBI’s confidential process—Lenskart signals confidence in its fundamentals and appetite for transparency.

Lenskart Solutions Share Price

The Lenskart Solutions unlisted share price is ₹400 per share. The grey market premium (GMP) for Lenskart's IPO shares has not yet started. The Lenskart Solutions share price in the unlisted market can vary, with other sources reporting it at different prices in the Pre IPO market. These unlisted shares are traded in the over-the-counter market.

Conclusion

Lenskart's recent DRHP submitting with SEBI marks a pivotal step toward its especially expected IPO, this is expected to be certainly considered one of India's biggest tech-client listings in 2025. The business organization aims to raise ₹2,150 crore through a fresh issue hassle, complemented by using a proposal on the market by way of offer for sale (OFS) of 132.3 million shares through existing shareholders and promoters. This go together move comes as Lenskart accomplished profitability in FY25, reporting a net profit of ₹297 crore, a big turnaround from previous losses.

The fresh capital raised may be strategically invested to further enhance Lenskart's aggressive growth plans, together with the  building up order of recent business company-owned and corporation-operated (CoCo) outlets with vendor stores, great investments in technology and cloud infrastructure, and enhanced extremely good brand recognition marketing efforts. 

The IPO also offers an opportunity for important investors like SoftBank and diverse promoters to partially divest their stakes. Lenskart's robust revenue increase, increasing global footprint, and progressive omnichannel employer model position it as a huge participant inside the hastily evolving international eyewear marketplace. The achievement of this IPO can be cautiously watched as it could set a new benchmark for other tech-led businesses eyeing public listings in India.