Lenskart, a major and well-known company in the eyewear sector, has taken official steps towards its much-awaited IPO. The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). According to the documents, Lenskart will issue new equity shares worth ₹2,150 crore under this IPO, while 13.22 crore shares will be offered for sale (OFS).
Who is Selling Shares in the IPO?
This offer for sale includes Lenskart's founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, as well as several large investors. These investors include SoftBank's SVF II Lightbulb (Cayman), Schroder Capital Private Equity Asia Mauritius Limited, Premji Invest's PI Opportunities Fund II, Temasek's MacRitchie Investments, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP.
SVF II Lightbulb will sell approximately 2.6 crore shares. Schroder Capital will sell 1.9 crore shares. PI Opportunities Fund II will sell approximately 87 lakh shares, MacRitchie Investments 78.6 lakh, Kedaara Capital 73.6 lakh, and Alpha Wave Ventures 66.6 lakh shares.
When and How Did the Company Start?
Lenskart was founded in 2008. In 2010, the company started its online business, and in 2013, it opened its first retail store in Delhi. The company started with an online platform, but today it has reached customers through its physical stores in small and large cities of India.
Currently, Lenskart's business model extends from designing, manufacturing, branding to retail sales. The company designs its brands itself and fully utilizes technology to provide better service to its customers.
Where Will the Funds Raised from the IPO be Used?
A significant portion of the ₹2,150 crore raised from the IPO will be used for the company's expansion. According to the company's plan, approximately ₹272.6 crore will be spent on opening 620 new company-owned stores in India by FY29.
₹591.4 crore will be kept as lease deposits for existing CoCo (Company Owned Company Operated) outlets. In addition, ₹213.4 crore is planned to be invested in technology and cloud infrastructure. This includes the expansion of AI-based fulfillment systems and robotic lens labs.
The company is also going to bet big on brand promotion and marketing, for which a separate budget of ₹320 crore has been allocated.
Lenskart's Profit and Business Strengthened
The company's financial performance is also continuously improving. In FY24, the company recorded a loss of ₹10.2 crore, while in FY25, this figure reversed. The company earned a net profit of ₹297.3 crore.
The company's revenue from operations has also increased to ₹6,652.5 crore, which is 22.5 percent higher than the previous year. EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) has also strengthened. In FY23, EBITDA was ₹302 crore, which increased to ₹763 crore in 2024 and reached ₹1,115 crore in 2025.
Network Spread Across the Country and Abroad
Today, Lenskart's network is not limited to India. The company has a total of 2,723 stores, out of which 2,067 are located in India and the remaining 656 stores are located in foreign markets.
The company has recorded more than 100 million app downloads so far. Regarding customer satisfaction and repeat purchases, Lenskart claims to have a repeat order rate of 98 percent in India over two years.
Continuous Investment in Technology and New Thinking
Lenskart is no longer just a company selling glasses; it has now become a tech-driven company. The company is using functions like AI-based recommendations, robotics, and smart mirrors on its platform. Continuous efforts are being made to provide novelty and ease in both online and in-store experiences to customers.
Competition in the Market and the Way Forward
Competition in the eyewear sector in India is continuously intensifying. Especially in both online and offline sectors, many brands have become active. Despite this, Lenskart has established itself as a premium and trusted name. The company is now going to implement its future plans by raising more capital through its IPO.
Strong Hold on Every Front, From Digital to Physical
Lenskart has given equal importance to both digital and physical aspects in its business model. The company's objective is to provide better quality eyewear to customers from anywhere, anytime. Due to this strategy, the company has made its reach from rural areas to metro cities.
