Lenskart Files Draft Documents With SEBI to Launch IPO

Market Performance Context

Lenskart, a major player in the Indian eyewear industry, has initiated its journey toward a stock market debut.In a major milestone for the Indian startup landscape, Lenskart has officially submitted its Draft Red Herring Prospectus to the SEBI.

Main News

Lenskart has officially filed draft documents with SEBI, signaling its intent to raise capital via an initial public offering (IPO). According to insider sources, this fundraising exercise will involve a fresh issue of shares worth ₹2,150 crore, approximately $250 million.

Additionally, the total IPO size is expected to range between $750 million and $1 billion, which will also include a secondary share sale by existing investors.

This IPO move was greenlit during Lenskart's annual general meeting held on July 26, marking a pivotal step in the company's expansion and capitalization plans.

Company Details

Unlike several other tech-led startups such as Swiggy, Groww, Meesho, and Boat, Lenskart has chosen to opt out of SEBI’s confidential filing route. Instead, it has gone ahead with a standard DRHP submission, indicating its confidence and transparency in the process.

In anticipation of the IPO, the company has also transformed into a public limited entity. The official change—from Lenskart Solutions Private Ltd to Lenskart Solutions Ltd—was finalized during an extraordinary general meeting on May 30.

Summary of the Article

• Lenskart has filed its DRHP with SEBI for an IPO.
• It aims to raise ₹2,150 crore ($250 million) via a fresh issue.
• The overall IPO size could be $750 million to $1 billion.
• The decision was approved at the July 26 AGM.
• Lenskart is skipping confidential filing, unlike some tech peers.

The firm has officially converted into a public limited company.