Lenskart files for IPO, to raise ₹2,150 crore in fresh issue

India's largest eyewear retailer, Lenskart, has filed for an initial public offering, which includes the issue of fresh shares worth ₹2,150 crore, as per its draft prospectus released on Tuesday (July 29, 2025).

Large shareholders of the company, known as “promoters”, will also cumulatively sell 13.23 crore shares. These include Japan’s SoftBank, the Mumbai-based private equity firm Kedaara, and Singapore’s state investor Temasek.

Incorporated in 2010, Lenskart is valued at ₹52,533 crore as of June 13, according to data from Traxcn. It is the largest retailer of eyewear in the country, followed by Specsmakers and ClearDekho. Morgan Stanley, Kotak Mahindra Capital, Axis Capital Holdings and Citi are among the lead bookrunning managers for the IPO.

Proceeds from the offering will be used to set up new company-owned, company-operated (CoCo) stores across the country, invest in technology and cloud infrastructure, and for general corporate purposes, the draft prospectus said.

The company's total debt stands at 4.97 billion rupees, as of the fiscal year ended March 2024, according to Traxcn data.

Source: Reuters