New Delhi1 hour ago
- copy link
Lenskart had filed DRHP with SEBI for IPO in July.
The IPO of eyewear company Lenskart will open from October 31. The company has announced its IPO dates on Sunday. Investors will be able to bid for this IPO till November 4. Lenskart will raise around Rs 7,278 crore through this IPO.
Earlier on October 4, SEBI had approved the IPO of Lenskart. Lenskart had filed the draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for the IPO in July.
Will raise ₹7,278 crore funds from IPO
According to media reports, the company will raise funds of about ₹7,278 crore through IPO. This IPO of the company is a combination of fresh issue and OFS in which there will be a fresh issue of Rs 2,150 crore. The promoters of the company will sell more than 13.22 crore shares.
The shareholders of the company include the names of Piyush Bansal, Neha Bansal, Amit Chaudhary and others. This will be the third largest IPO this year, after Tata Capital and LG Electronics.
Where will the company use the funds?
Lenskart will invest a major part of the funds raised from this IPO in further strengthening its business. The company will open new stores in India with Rs 272 crore. Apart from this, Rs 591 crore will be used for rent, lease and other expenses of more than 2,700 existing stores.
The company will also use the funds raised from the IPO for strategic initiatives. The company’s strategic initiatives include new company-operated company-owned (CoCo) stores, investments in technology, brand marketing and potential acquisitions. Apart from this, this fund will also be used to take cocoa stores on lease and rent. The company will also use this fund to create tech infrastructure and increase brand awareness.
The CEO of Lenskart is Piyush Bansal. (file photo)
Who is the book running lead manager for the IPO?
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited and Intensive Fiscal Services Private Limited have been appointed as book running lead managers for the IPO.
Earned a profit of ₹297 crore in FY 2025
Lenskart has performed brilliantly in FY 2025. The company earned a profit of Rs 297 crore this year, whereas last year (FY24) it had a loss of Rs 10 crore. The company’s revenue has also increased by 22% from Rs 5,428 crore to Rs 6,625 crore.
Lenskart launches 105 new collections in FY25
In FY2025, Lenskart launched 105 new collections globally and sold 2.72 crore eyewear units to 12.41 crore customers. The company recorded over 100 million app downloads and 104.97 million annual website visitors in FY2025 and operates 2,723 stores worldwide.
The company’s valuation was $5 billion in 2024
In June last year, Lenskart had raised $200 million (about ₹1,775 crore) in funding at a valuation of $5 billion. Lenskart dominates the eyewear sector. The company’s business is also profitable. The company is also expanding its business rapidly in Thailand.
Lenskart was started in 2010
Established in 2008, Lenskart started as an online business in 2010. Opened its first retail outlet in 2013. The company operates one of the largest eyewear retail networks in India. Piyush Bansal and a friend of his from Kolkata planned to create a company that could change the habit of people in India not wearing glasses.
He found another co-founder, Sumeet Kapahi, on LinkedIn. Kapahi had left his job at an eyewear company a few months ago. Together, the three formed Value Technology in 2010, which had separate e-commerce websites. It had Lenskart, Jewelkart, Bagkart and Watchkart websites. After some time, seeing the potential in the spectacles market, all three started focusing only on Lenskart.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
Source link
[ad_3]