Lenskart IPO: Softbank-Backed Issue To Open For Subscription On Oct 31—Five Things To Know From RHP

Lenskart Solutions, backed by marquee global investors - Softbank, ADIA, Temasek, and Kedaara Capital, is set to open its maiden public issue next week on Oct. 31.

The Peyush Bansal-led eyewear products maker will raise Rs 2,150 crore via fresh shares, while promoters and investors will be offloading 12.75 crore equity shares via offer-for-sale.

The IPO has been in focus for quite some time, with DMart's Radhakishan Damani having already invested Rs 90 crore ahead of the issue opening.

1. IPO Structure

The Lenskart IPO comprises a fresh issue of equity shares aggregating up to Rs 2,150 crore and an offer-for-sale of up to 12.75 crore shares by existing shareholders.

These include the likes of Softbank Vision Fund, Kedaara Capital, TR Capital, and Chiratae Ventures.

2. Use of Proceeds

As per the Red Herring Prospectus (RHP), Lenskart will deploy the fresh issue proceeds mainly for lease and rent payments for company-owned, company-operated (CoCo) stores in India.

Lenskart has allocated as much as Rs 591 crore for the management and sustenance of these CoCo stores.

Around Rs 320 crore will be used for marketing and business promotion while Rs 276 crore will be used as capital expenditure to set up new CoCo stores in India.

Lenskart also aims to utilise Rs 213 crore for investing in technology and cloud infrastructure. Remaining funds will be used for general corporate purposes.

3. Financial Snapshot

Lenskart reported a significant turnaround, posting a restated profit for the year of Rs 297 crore for the financial year ended March 31, 2025.

This compares to a restated loss of Rs 10.1 crore in fiscal year 2024 and a loss of Rs 6.3 crore in fiscal year 2023.

Revenue from operations grew to Rs 6,652 crore in fiscal 2025, up from Rs 5,428 crore in the previous year.

4. Promoter and Investor Shareholding

Among the selling shareholders, co-founder Peyush Bansal will sell over 2 crore shares, while other co-founders Amit Chaudhary and Sumeet Kapahi will sell 28.7 lakh shares each.

SoftBank affiliate SVF II Lightbulb (Cayman) Ltd. will sell 2.6 crore shares, while Kedaara Capital and Alpha Wave Ventures will also offload part of their stakes.

5. Lead Managers

Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are acting as the book-running lead managers for the Lenskart Solutions IPO.