Lenskart Files Rs 2,150 Cr DRHP for IPO with SoftBank, Temasek Sales

Lenskart, India's largest eyewear retailer, has filed its Draft Red Herring Prospectus (DRHP) with SEBI aiming to raise Rs 2,150 crore ($247 million) through a fresh issue and an Offer for Sale (OFS) of up to 13.2 crore shares by existing investors, including SoftBank, Temasek, Schroders Capital, and Kedaara Capital. The IPO is expected to value the company between Rs 70,000-75,000 crore ($8-9 billion), marking one of the largest IPOs of the year in India, with key promoters also selling shares. Lenskart plans to use the proceeds for expanding its company-operated stores across India, technology investments, and other corporate purposes. As of March 2025, Lenskart operated 2,723 stores globally and reported a 22% revenue growth in FY25 to Rs 6,625 crore, achieving profitability with a net profit of Rs 297 crore. The company’s international markets contributed over 40% of its revenue, highlighting its global reach. The IPO is managed by major merchant bankers including Kotak Mahindra, Morgan Stanley, Citi, and Avendus Capital, and reflects a broader trend of Indian tech startups opting for local listings amid improving market conditions.