Lenscart IPO
Lenskart, the retail company of glasses, has got the green signal to bring its IPO from SEBI i.e. Securities and Exchange Board of India. According to sources, the company will file updated prospectus in the next few weeks and plans to be listed in the stock market by mid -November.
In July, Lenskart deposited a draft red herring prospectus for the issue with SEBI, through which she wants to raise new capital of Rs 2,150 crore. In addition, the company’s founder Piyush Bansal, Neha Bansal, Sumit Kapahi and Amit Chaudhary, as well as SoftBank, Premji Invest, Temasake, Kedara Capital and Alpha Wave Global will sell 132.3 million shares through the offer-for-sale. Overall, the size of this IPO is expected to be Rs 7,500-8,000 crore.
This year will be one of the largest IPOs after Tata Capital and LG Electronics. Kotak Mahindra, Morgan Stanley, City, Avends Capital and Intensive Fiscal Services are the merchant bankers of this IPO. The IPO of this company of Gurugram will be the largest among many big IPOs this year. Stockbroking firm Grow, e-commerce platform Misho, Payment Company PhonePe and Edtech company Physicswala are also preparing for listing, but they have chosen SEBI’s confidential filing process.
Company’s financial status
Lenskart has earned a profit in FY 2025, with a net profit of Rs 297 crore, while last year there was a loss of Rs 10 crore in FY 2024. The company’s revenue also increased by 22% to Rs 5,428 crore to Rs 6,625 crore. Lenskart, who won the Startup of the Year at the ET Startup Awards 2024, will open a new stores in India with Rs 272 crore from this IPO. Also, Rs 591 crore will be used for its existing stores rent, leasing and other expenses. Some amount has also been kept for acquisition.