MUMBAI: Lenskart Solutions, which is a leader among the tech driven eyewear platform selling under the label of Lenskart, has filed for an over Rs 8,000 crore primary issue with the markets regulator Sebi.
The leading omni-channel eyewear retailer offers a wide selection of affordable and fashionable prescription eyeglasses, sunglasses and contact lenses.
The offer comprises a fresh issue of shares aggregating up to ₹21,50 crore and the rest in offers under which seven of its leading external investors will be selling. Though the exact amount they will be raised through the ofs will be known only after the price discovery it has been learnt that the ofs component will be in excess of tRs 6000 crore.
The ofs involves sale of up to 132,288,941 or 13.3 crore shares by certain existing shareholders, including Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, who are the promoters and external investors such as SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia Mauritius, PI Opportunities Fund –II, Macritchie Investments, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP, according to the DRHP filed Tuesday.
The company also said it may consider a pre-ipo placement aggregating to Rs 430 crore prior to filing of the RHP.
The company proposes to utilise the net proceeds from the IPO for various strategic initiatives, including capital expenditure for setting up new company-operated company-owned stores; investments in technology and cloud infrastructure; marketing and business promotion among others.
Founded in 2008, Lenskart commenced operations as an online business in 2010 and opened its first retail store in New Delhi in 2013. Today, the brands business spans across designing, manufacturing, branding and retailing and it operates the largest eyewear retail networks with a strong presence across metros and even small towns as well as international operations in Southeast Asia and the Middle East.
It owns and operates frame and lens design and prescription eyeglasses manufacturing facilities at Bhiwadi, Rajasthan and Gurugram, Haryana, supplemented by regional facilities in Singapore and the United Arab Emirates.
The company recently agreed to purchase the remaining 80% stake in the Spanish company Stellio Ventures, which owns the Meller consumer eyewear brand, for ₹407 crore .
It currently operates 2,723 stores ( 2,067 stores in India and 656 stores internationally).
In FY25, it reported an operating profit of ₹1,115 crore, up from ₹763 crore a year earlier and ₹302 crore in the year before, reflecting an annual growth of 92% each year. During these years it operating margin improved steadily from 8% to 14% and now 17%.
In FY25 its topline grew 33% to ₹6,524 Cr in FY25 with 60% contribution from India.