Lenskart Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). According to reports, the company is a top omni-channel eyewear retailer in India, providing a diverse range of stylish and budget-friendly prescription glasses, sunglasses, and contact lenses.
The offer includes a fresh issue of equity shares totaling up to ₹21,500 million, along with an offer to sell up to 132,288,941 equity shares by specific existing shareholders, such as Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, who are Promoter Selling Shareholders.
Further, SVF II Lightbulb (Cayman) Limited, Schroders Capital Private Equity Asia Mauritius Limited, PI Opportunities Fund – II, Macritchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP, are Investor Selling Shareholders.
The firm may consider a pre-IPO placement amounting to ₹430 crores before submitting the Red Herring Prospectus (RHP). Should this occur, it will reduce the size of the fresh issue.
The company intends to use the net proceeds from the IPO for various strategic purposes, including capital expenditures for establishing new Company-operated Company-owned (CoCo) stores in India; settling payments related to lease, rent, and licensing agreements for these CoCo stores; investing in technology and cloud infrastructure; enhancing brand recognition through marketing and business promotion; pursuing potential unidentified inorganic acquisitions; and addressing general corporate needs.
