Hyderabad: In a major milestone for India’s retail tech sector, Lenskart has received SEBI’s approval to float its initial public offering (IPO). The eyewear leader will soon submit its revised prospectus and aims to debut on stock exchanges by mid-November.
Filed in July, the DRHP outlined plans to raise ₹8,876 crore ($1 billion) at a $10 billion valuation, positioning Lenskart as one of India’s most valuable direct-to-consumer brands to go public.
Structure of the issue and fund utilization
The IPO will be a mix of fresh equity and offer-for-sale (OFS) shares, totaling 13.22 crore units. The company will issue ₹2,150 crore worth of new shares, while early investors and promoters will partially exit through OFS.
Prominent shareholders include CEO Peyush Bansal, Neha Bansal, and Amit Chaudhary.
Proceeds will strengthen Lenskart’s offline and online presence. About ₹272 crore will be used for new store openings, and ₹591 crore for rentals and store maintenance across its existing 2,700 outlets. The remainder will support strategic initiatives, tech development, and branding.
Industry analysts note that the Lenskart IPO signals growing investor appetite for profitable Indian startups with strong brand loyalty and omnichannel operations.
