Lenskart IPO: Eyewear Giant to File DRHP Publicly By Early July, Opting Out Confidential Route

Lenskart plans to skip SEBI’s confidential IPO route, as per a Moneycontrol report. Instead, it will file its DRHP publicly in the first half of July. The move signals strong confidence in its financials and public image.

Lenskart’s IPO Strategic Move with Public DRHP Filing

Unlike new-age startups like Swiggy and Meesho, who opted for confidential filings to protect sensitive data, Lenskart is taking the conventional route. This decision means the DRHP will be available to the public as soon as it is submitted. 

The Securities and Exchange Board of India allows companies to choose between confidential and normal filing methods, but Lenskart's strategy suggests it is comfortable revealing its operational and financial details, given its industry dominance.

Confidence Driven by Strong Position and Brand Recall

Co-founder and CEO Peyush Bansal is betting on Lenskart’s established market leadership. The company currently operates across India, the UAE, Singapore, and Japan. With minimal competition in the tech-backed eyewear retail segment and Titan Eye Plus being its only significant listed competitor, Lenskart is well-positioned for a strong IPO performance.

IPO Details: Bankers and Valuation Expectations

The IPO is being managed by top financial institutions, including Kotak, Citi, Morgan Stanley, Axis Capital, and Avendus. The company aims to raise over $1 billion with a valuation nearing $10 billion. This valuation has increased from earlier benchmarks of $7 billion to $8 billion due to improved profitability indicators and investor sentiment.

Read More: SEBI Clears IPO Proposals of GNG Electronics, Amanta Healthcare, and Glottis!

Business Performance Of Lenskart

For FY24, Lenskart recorded ₹5,427 crore in revenue, reporting a nominal loss of ₹10 crore, a significant improvement considering its high-capex expansion phase. The FY25 results are still awaited, but the company remains one of India’s few retail technology-driven firms with global ambitions and significant backing. 

Lenskart has raised over $1 billion from global investors, including SoftBank, ADIA, ChrysCapital, and Alpha Wave, reflecting strong institutional confidence.

Conclusion

Lenskart’s choice to go public with its DRHP, rather than filing confidentially, signals transparency and market readiness. With plans to list by the end of 2025, a strong financial performance, and a growing global presence.

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