The corporate will now file its up to date prospectus over the following few weeks and is concentrating on an inventory for mid-November, one of many individuals mentioned.
Lenskart had filed its draft red herring prospectus with Sebi in July, and is seeking to elevate Rs 2,150 crore in contemporary capital from the problem.
In addition to the first portion, shareholders together with founders Peyush Bansal, Neha Bansal, Sumeet Kapahi and Amit Chaudhary, along with SoftBank, Premji Make investments, Temasek, Kedaara Capital and Alpha Wave World are promoting a complete of 132.3 million shares by means of the problem’s offer-for-sale part.
Together with secondary gross sales, the overall IPO measurement is predicted to be Rs 7,500-8,000 crore ($850-900 million), ET had reported earlier. This is able to make it one of many largest public choices this yr, following these of Tata Capital and LG Electronics.
Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital and Intensive Fiscal Providers are service provider bankers for its IPO.
The Gurugram-based firm’s public providing is the most important amongst quite a lot of new-age firm IPOs lined up for this yr. Stockbroking agency Groww, ecommerce market Meesho, funds agency PhonePe and edtech platform PhysicsWallah are additionally getting ready sizable listings. In contrast to Lenskart, they’ve opted for Sebi’s confidential submitting course of.
Lenskart turned worthwhile in fiscal 2025, posting a web revenue of Rs 297 crore in opposition to a web lack of Rs 10 crore in FY24. Its income elevated 22% to Rs 6,625 crore from Rs 5,428 crore within the earlier yr.
The corporate, which received Startup of the Yr on the ET Startup Awards 2024, will use round Rs 272 crore of contemporary capital from the problem for organising new shops in India, whereas Rs 591 crore will probably be utilised in direction of assembly leasing, rental and different bills of its present 2,700-plus shops. The corporate has additionally earmarked an undisclosed portion of the proceeds for acquisitions.
Additionally Learn: ETtech explainer: Decoding Lenskart’s draft prospectus for Rs 8,000 crore IPO
Discover more from News Journals
Subscribe to get the latest posts sent to your email.
