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News Topical, Digital Desk : SEBI has approved Lenskart's draft red herring prospectus (DRHP), paving the way for the omnichannel eyewear retailer's initial public offering (IPO). The approval will join a growing list of Indian startups entering the public market, according to at least three people familiar with the matter. The IPO will comprise a fresh issue of Rs 2,150 crore, along with an offer for sale (OFS) of up to 132 million shares by existing investors and promoters.
Who is included in the OFS
Major shareholders like SoftBank-backed SVF II, Alpha Wave Ventures, Temasek affiliates, Premji Invest and Kedaara Capital will participate in the OFS. Among the promoters, Peyush Bansal will sell 2 crore shares, while Neha Bansal, Amit Chaudhary and Sumeet Kapahi will sell smaller shares. Currently, promoters hold 19.96 per cent stake in the company, while 80.04 per cent stake is held by institutional and other shareholders. Lenskart will use the fresh capital raised from the IPO to further its expansion strategy. Established in 2008, Lenskart has over 2,000 stores globally, including a strong online and offline presence. The company is backed by major global investors like SoftBank, ADIA, Temasek, KKR, Alpha Wave, TPG and Kedaara Capital. This IPO of Lenskart will join the list of Indian startups like Meesho, PhysicsWallah and Groww, which are preparing to enter the public market amid better investor confidence.
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