Lenskart Files RHP, IPO To Open On Oct 31

SUMMARY

Following anchor bidding on October 30 (Thursday), the public offering will open on Friday and subsequently close on November 4

Lenskart has maintained the INR 2,150 Cr size of the fresh issue component of the IPO but has cut the OFS component by 47 Lakh shares to 12.76 Cr

On the financial front, Lenskart posted a net profit of INR 61.2 Cr in Q1 FY26, compared to a loss of INR 11 Cr in the same period last year, while its operating revenue rose 25% YoY to INR 1,894.5 Cr.

Eyewear major LensKart has filed its red herring prospectus (RHP) for its initial public offering (IPO). Following anchor bidding on October 30 (Thursday), the public offering will open on Friday and subsequently close on November 4.

The Peyush Bansal-led company has retained the fresh issue component of its IPO at INR 2,150 Cr. However, Lenskart has trimmed the offer for sale (OFS) portion to 12.76 Cr shares from the earlier proposed 13.23 Cr shares.

The cut in the OFS component follows promoter Neha Bansal reducing her offer for sale by 47.26 Lakh shares to 10.11 Lakh shares.

The remaining selling shareholders — including Peyush Bansal, Amit Chaudhary, Sumeet Kapah, SoftBank (SVF II Lightbulb (Cayman) Ltd), Schroders Capital, Premji Invest (PI Opportunities Fund – II), Temasek (Macritchie Investments Pte Ltd), Kedaara Capital, and Alpha Wave Ventures — have retained their OFS portions as outlined in the draft red herring prospectus.

The company would reveal the price band for its IPO tomorrow. Sources told Inc42 yesterday that it would look to cut the IPO valuation to $8 Bn from the erstwhile targeted $9 Bn.

Lenskart plans to utilise the fresh capital primarily to expand its physical retail presence. From the fresh issue, INR 272.6 Cr has been reserved to set up new company-owned, company-operated (CoCo) stores across India. Besides, a sum of INR 591.4 Cr has been earmarked for payments pertaining to rental or licence agreements for these stores. The company intends to add 620 more stores by FY29.

Further, the Delhi-based company would invest INR 213.4 Cr to fortify its tech and cloud infrastructure and INR 320 Cr for brand marketing. The remaining amount would be used for acquisitions and general corporate purposes.

On the financial front, Lenskart maintained profitability in the first quarter of FY26 (Q1 FY26). The company’s net profit for the period soared to INR 61.2 Cr as against a loss INR 11 Cr in the year-ago period. Meanwhile, operating revenue surged 25% to INR 1,894.5 Cr from INR 1,520.4 Cr in the year-ago period.

A Message From Shadowfax:
With a pan-India network in 2,200+ cities, Shadowfax delivers fast, reliable, and tech-driven logistics for some of India’s biggest brands. Learn More