Eyewear brand Lenskart has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI to launch its Initial Public Offering (IPO). This move marks a major step towards the company’s stock market debut and aims to raise significant capital.
As per the filing, Lenskart is targeting to raise Rs 2,150 crore (around $250 million) through a fresh issue of shares. In total, the IPO size is expected to be between $750 million and $1 billion, including an offer for sale (OFS) by existing investors. This dual route—fresh issue plus secondary sale—will help the company fuel its expansion plans while offering early investors a partial exit.
The decision to go ahead with the IPO was taken at the Lenskart’s Annual General Meeting on July 26. Unlike some other new age Indian startups like Swiggy, Boat and Meesho which are going for confidential filings, Lenskart has chosen the regular DRHP route and has made its IPO plans public.
Earlier this year in February, Lenskart started IPO preparations by engaging with top financial institutions. As per reports, Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley and Avendus Capital have been shortlisted as advisors for this public issue.
To comply with regulatory requirements, Lenskart recently changed its status from a private limited company to a public limited entity. This change was formalised on May 30 when the company’s name was changed from Lenskart Solutions Private Ltd to Lenskart Solutions Ltd at an extraordinary general meeting.
Lenskart’s IPO is one of the most awaited public listing in India’s retail and D2C space. The funds raised will be used to fuel its omnichannel strategy, strengthen supply chains and support new product development.
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Source: Moneycontrol
News Desk
