Eyewear retailer Lenskart IPO to open on October 31

Eyewear retailer Lenskart's initial public offering (IPO) will open for bidding on October 31 and close on November 4 as the company plans to raise capital through the fresh issue and offer for sale of shares.

The anchor investors' subscription will open on October 30.

The public offer comprises a fresh issue of equity shares worth up to Rs 2,150 crore and an offer for sale of up to 127.5 million shares by existing shareholders, including promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.

Other investors offloading shares include SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia Mauritius, PI Opportunities Fund – II, Macritchie Investments, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP.

The eyewear retailer plans to use the proceeds to set up new company-operated stores, invest in technology and cloud infrastructure, brand marketing, potential inorganic acquisitions, and general corporate purposes.

Recently, billionaire investor Radhakishan Damani, founder of Avenue Supermarts (DMart), invested around Rs 90 crore in Lenskart in a pre-IPO funding round.

The company, one of India’s largest omni-channel eyewear retailers, offers a wide range of affordable and fashionable prescription eyeglasses, sunglasses, and contact lenses through its online platform and extensive retail network.

Founded in 2008 by Peyush Bansal, Lenskart started as an online eyewear platform in 2010 and opened its first physical store in New Delhi in 2013. Over the years, it has evolved into one of the country’s most prominent consumer brands in the eyewear category.

The company has a presence across metro, Tier I, and II cities, along with international operations in Southeast Asia and the Middle East.