The Securities and Exchange Board of India (SEBI) has formally given Lenskart, the country’s top omnichannel eyeglasses retailer, the go-ahead to begin its eagerly anticipated initial public offering (IPO). This is a significant turning point for the Gurugram-based business, which aims to improve its standing in the fiercely competitive retail sector for eyewear and lifestyle products.
The Road to the IPO
Two months after Lenskart submitted its draft red herring prospectus (DRHP) in July 2025, the approval was granted. In addition to an Offer for Sale (OFS) of up to 13.2 crore shares by current owners, the IPO would include a new equity issue valued at ₹2,150 crore.
The OFS will be led by marquee investors such as SoftBank, Temasek, Schroders Capital, Premji Invest, Kedaara Capital, and Alpha Wave. Notably, the largest portion of shares will be sold by SoftBank, the largest external investor in Lenskart. Peyush Bansal, the CEO and co-founder, would also sell over 2.05 crore shares to reduce his holdings.
Use of Proceeds
According to Lenskart, the newly obtained funds will be used strategically to pay lease commitments, make significant investments in technology, and grow its network of company-owned and company-operated (CoCo) locations. Additionally, a sizeable amount will be allocated to business development and brand marketing, which is anticipated to strengthen its standing as a well-known brand in the eyewear industry.
The money will also be used to improve its digital-first strategy, which has allowed it to expand quickly in both Indian and foreign markets by guaranteeing a smooth transition between its online and offline presence.
Investor Landscape
Since its inception, Lenskart has raised over $1.8 billion across multiple funding rounds, according to startup data platform TheKredible. The company’s investor roster includes some of the biggest global names.
- SoftBank holds a 15.04% stake, making it the largest external investor.
- Abu Dhabi Investment Authority (ADIA) follows with a 12.45% stake.
- Other significant backers include Temasek, Premji Invest, and Alpha Wave.
This diversified investor base has not only provided capital but also strategic expertise, enabling Lenskart to scale operations, expand internationally, and build one of the most recognizable eyewear brands in India.
Financial Performance
What makes the IPO even more timely is Lenskart’s impressive financial turnaround. In FY25, the company recorded a revenue of ₹6,653 crore, a 22.6% jump from ₹5,428 crore in FY24.
More significantly, it swung from a loss of ₹10 crore in FY24 to a net profit of ₹297 crore in FY25. This shift highlights the company’s ability to balance growth with profitability, a factor that will likely attract strong interest from institutional and retail investors alike.
Industry Context and Peers
With its public launch, Lenskart will join other tech-driven consumer firms that are interested in India’s expanding public marketplaces. Companies including boAt, Capillary Technologies, Groww, and Pine Labs have also received SEBI’s approval for initial public offerings (IPOs) in recent months.
With eyeglasses becoming more and more of a fashion statement as well as a need, Lenskart has a distinct advantage thanks to its ability to tap into a market that combines lifestyle and healthcare. Its omnichannel strategy, which skillfully combines online and expanding offline sales, has been essential in luring in India’s aspirational but price-conscious customers.
What Lies Ahead
With SEBI’s approval secured, Lenskart now gears up for one of the most closely watched IPOs of the year. Market watchers believe that the company’s strong brand recall, expanding retail footprint, and profitable growth trajectory put it in a favorable position to attract robust investor demand.
If successful, this IPO will not only provide liquidity to its marquee investors but also give Lenskart the financial muscle to accelerate its mission of making eyewear more accessible and stylish for millions.
In many ways, Lenskart’s IPO is not just about raising capital—it is about cementing its status as India’s leading eyewear disruptor on the global stage.
