Lenskart IPO: Peyush Bansal-led firm files DRHP with SEBI to raise ₹2,150 crore via fresh issue; check key details

Lenskart IPO: Leading eyewear brand Lenskart has filed preliminary papers with the markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds via an initial public offering.

The initial public offering is a fresh issuance of equity shares aggregating to ₹2,150 crore and an offer for sale (OFS) of 13.22 crore shares, according to draft red herring prospectus (DRHP).

Under the OFS, co-founders Peyush Bansal, Amit Chaudhary, Sumeet Kapahi, Kedaara Capital, Alpha Wave Ventures, and SVF II Lightbulb (Cayman) Ltd., which is an affiliate of Softbank, will offload shares.

Kotak Mahindra Capital Company, Avendus Capital Pvt Ltd, Morgan Stanley India Company, Citigroup Global Markets India Pvt Ltd, Intensive Fiscal Services Pvt Ltd, and Axis Capital Limited are the book-running lead managers for the IPO.

MUFG Intime India serves as the registrar.

Lenskart turned into a public company on May 30. The decision was taken during an extraordinary general meeting when a resolution was passed to change the eyewear firm's name to Lenskart Solutions Limited from Lenskart Solutions Private Limited.

"In order to undertake the offer (IPO), the status of the company is required to be changed from a private company limited by shares to a public company limited by shares," Lenskart said in a filing with the Registrar of Companies (RoC).

Founded in 2010, Lenskart offers over 5,000 styles of eyewear, serving customers in India, the UAE, Singapore, and Japan.

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SoftBank-backed e-commerce platform Meesho has submitted its DRHP via the confidential route.