Peyush Bansal, Shark Tank judge and founder of eyewear company Lenskart Solutions Ltd., is looking to raise approximately Rs 2,837 crore, based on the most recent secondary market transaction he undertook with various investors.
The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a fresh issue of Rs 2,150 crore and an Offer for Sale (OFS) of 13.22 crore shares. Based on the July 2025 secondary share transfer price of Rs 52 per share—between Bansal and other investors—the OFS is valued at Rs 688 crore.
The OFS will include a 1.53% stake from existing founders, including Peyush Bansal.
Shares were transferred by the selling shareholders to Bansal at Rs 52 per share just days before the filing of the DRHP. This values the OFS portion at Rs 688 crore, bringing the total IPO size to Rs 2,838 crore.
Over the past three years, Lenskart Solutions has raised Rs 2,943 crore in equity from investors.
Before the conversion of preference shares and the IPO, the promoter group held nearly 20% of the company. Following the conversion and on a fully diluted basis post-IPO, the promoter stake will fall to 7.83%.
The company will convert 82.81 crore preference shares into 85.84 crore equity shares ahead of the IPO.
Lenskart may also consider a pre-IPO placement of Rs 430 crore prior to filing the Red Herring Prospectus. This could provide a premium and set a IPO price for the eyewear company.
Proceeds from the IPO will be used for the following purposes:
Rs 272.62 crore to set up company-owned and operated stores
Rs 591.44 crore for lease payments for these stores
Rs 213.37 crore for technology and cloud infrastructure
Rs 320 crore for brand marketing and business promotion
Lenskart's revenue rose to Rs 6,652.5 crore in FY25 from Rs 5,642.37 crore in the previous year. It also posted its first-ever profit of Rs 297.34 crore in FY25, compared to a loss of Rs 10.1 crore in the previous fiscal year.
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