Latest news with #CoCo
Time of India
10 hours ago
- Business
- Time of India
Lenskart's files Rs 7,500-8,000 cr IPO papers with Sebi
BENGALURU: Lenskart Solutions is gearing up for one of the largest consumer-tech listings of the year, with its initial public offering (IPO) expected to raise between Rs 7,500 crore and Rs 8,000 crore, people aware of the matter said. The final size will depend on valuations at the time of listing. The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on Tuesday. The IPO consists of a fresh issue of shares worth Rs 2,150 crore and an offer for sale (OFS) of up to 13.23 crore shares by existing investors and promoters. A pre-IPO placement of up to Rs 430 crore has also been proposed, which could reduce the fresh issue size. Proceeds from the fresh issue will be used for the expansion of company-owned (CoCo) stores in India (Rs 272.62 crore), lease-related payments (Rs 591.44 crore), technology and cloud infrastructure (Rs 213.38 crore), and brand marketing (Rs 320.06 crore). The remainder will be allocated for inorganic acquisitions and general corporate purposes. As of March 31, 2025, Lenskart operated 2,723 stores globally, including 2,067 in India and 656 overseas. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Remember Him? Take A Deep Breath Before You See Him Now The Noodle Box Undo by Taboola by Taboola The company sold 27.2 million eyewear units in FY25, up from 21.2 million in FY24 and 15.9 million in FY23. Annual transacting customer accounts rose from 7.7 million in FY23 to 12.4 million in FY25, while its paid membership program, Lenskart Gold, reached 6.77 million members in India. Financially, the company swung from losses to profitability in FY24. In FY25, Lenskart reported revenue of Rs 6,653 crore, up from Rs 5,428 crore a year ago. Net profit rose more than fivefold during the same period, from Rs 59 crore to Rs 297 crore, driven by operating leverage and higher repeat purchases. Lenskart's apps have seen more than 100 million cumulative downloads, while its websites drew 105 million visitors in FY25. New customers, on average, purchased 3.62 pairs of glasses within two years, the filing revealed. The case of the missing degree Buried in Lenskart's DRHP is an oddly specific risk: one of its promoters, Sumeet Kapahi, who also heads global sourcing at the company, can't find his (Hons) degree or marksheets from the University of Delhi. He has emailed, written letters, and even applied through the university's online portal, but is still waiting for a response. Until then, Lenskart and its bankers have relied on the certificates he submitted for the IPO filing. The company admits there's no guarantee the university will ever send the documents, making this one of the more unusual disclosures in a multi‑thousand‑crore IPO draft. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
News18
17 hours ago
- Business
- News18
Eyewear retailer Lenskart files IPO papers to raise Rs 2,150-cr via fresh issue
New Delhi, Jul 29 (PTI) Lenskart Solutions Ltd, an omni-channel eyewear retailer, has filed preliminary papers with capital markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The Gurugram-based company's IPO involves raising Rs 2,150 crore through fresh issuance of equity shares. Besides, promoters and investors would offload 13.22 crore equity shares, according to the draft red herring prospectus (DRHP) filed on Monday. As a part of the OFS, promoters — Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi; investors — SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund – II, Macritchie Investments Pte Ltd, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP — would offload shares. Lenskart proposes to utilise the proceeds from the IPO for various strategic initiatives, including Rs 272.6 crore capital expenditure for setting up new Company-operated Company-owned (CoCo) stores in India and Rs 591.44 crore for payments related to lease, rent, and license agreements for these CoCo stores. Additionally, Rs 213.37 crore will be used for investments in technology and cloud infrastructure; Rs 320 crore for brand marketing and business promotion for enhancing brand awareness and the remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes. Also, the company may consider a pre-IPO placement aggregating to Rs 430 crore. If such a placement is undertaken, the fresh issue size will be reduced accordingly. Founded in 2008, Lenskart commenced operations in India as an online business in 2010 and opened its first retail store in New Delhi in 2013. The company's business spans across designing, manufacturing, branding and retailing. Lenskart is India's largest organised retailer of prescription eyeglasses in terms of B2C eyeglasses sales volumes during financial year 2025, according to the Redseer Report. It has a strong presence across metro, Tier 1 and Tier 2 cities and international operations in Southeast Asia and the Middle East. Lenskart operates business through 2,723 stores globally, comprising 2,067 stores in India and 656 stores internationally. Its mobile applications had over 100 million cumulative app downloads as of March 2025. The company has manufacturing facilities at two locations in India – in Bhiwadi, Rajasthan and Gurugram, Haryana – supplemented by regional facilities in Singapore and the United Arab Emirates. It targets different customer categories through a portfolio of brands and sub-brands that include premium collections through John Jacobs and Owndays (acquired in 2022), and economy and affordable premium collections through Lenskart Air, Vincent Chase, hustlr, and Hooper Kids. On the financial front, Lenskart turned profitable in FY25 with a net profit of Rs 297.3 crore after posting a loss of Rs 10.15 crore in FY24. It reported an EBITDA (earnings before interest, taxes, depreciation and amortisation) or operating profit of Rs 1,115 crore, an increase from Rs 763 crore a year earlier. The company clocked revenues of Rs 6,652 crore in FY25, an increase from Rs 5,428 crore in the preceding fiscal. Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services have been appointed to manage the maiden public issue. PTI SP SP DRR SHW view comments First Published: July 29, 2025, 15:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
17 hours ago
- Business
- Mint
IPO Watch: Lenskart files draft papers with SEBI for ₹2,150-crore IPO
Lenskart IPO: Lenskart Solutions has filed its Draft Red Herring Prospectus (DRHP) with the capital market regulator Securities and Exchange Board of India (SEBI). 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, totalling up to ₹ 21,500 million, along with an offer for sale (OFS) of up to 132,288,941 equity shares. Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi are the promoter selling shareholders. Meanwhile, 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 the investor selling shareholders looking to offload stake via OFS. The firm may consider a pre-IPO placement amounting to ₹ 430 crore 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. The book running lead managers for the issue are Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Pvt Ltd, Avendus Capital Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Axis Capital Ltd, and Intensive Fiscal Services Pvt Ltd. Founded in 2008, Lenskart began its journey in India as an online venture in 2010 and opened its first physical store in New Delhi in 2013. Presently, the brand's business has robust presence in metropolitan areas, Tier 1, and Tier 2+ cities, alongside international operations in Southeast Asia and the Middle East. In FY25, it reported an EBITDA of ₹ 1,115 crore, rising from ₹ 763 crore the previous year and ₹ 302 crore, representing a CAGR of 92%. Over the last three fiscal years, EBITDA margins have grown consistently from 8% to 14% and currently stand at 17%. In FY25, Lenskart introduced 105 new collections that were designed and engineered in-house globally. The scale of in-house manufacturing has significantly increased: frame production surged from 4.4 million to 6.4 million units over three years, while lens production nearly doubled to 4.1 million units.
News18
18 hours ago
- Business
- News18
Lenskart Promoter Sumeet Kapahi Can't Find DU Degree, Reveals IPO Filing
Last Updated: Lenskart promoter Sumeet Kapahi lost his B-Com (Hons) degree from Delhi University. Lenskart plans to raise Rs 2,150 crore via IPO, including an offer-for-sale by key shareholders. Lenskart IPO: One of the promoters of Lenskart, Sumeet Kapahi, couldn't find his B-Com (Hons) degree and marksheet from the University of Delhi, as revealed in the DRHP filed by the eyewear on Tuesday with Sebi. Kapahi has written several emails to the university, but no response has come yet. Eyewear company Lenskart is eyeing to raise Rs 2,150 crore through fresh issue. The IPO will also contain an offer-for-sale of 132.28 million shares, in which major shareholders are founders Peyush and Neha Bansal along with investors Softbank, PremjiInvest, Kedaara Capital and Temasek. The total IPO size is expected to be in the range of $750 million to $1 billion, which will include an offer-for-sale (OFS) component by existing investors. 'One of our promoters, Sumeet Kapahi, who is also the Global Head of Sourcing of our Company, has been unable to trace the copies of his (Hons). degree and marksheets form the University of Delhi," Lenskart DRHP said. It added that Kapahi had written multiple emails, and a letter to the concerned university requesting for a copy of his degree certificate, and has applied for the copies of the marksheets on the portal of the university on its websites as well. 'There is no assurance that the university will respond to such emails and letter in a timely manner, or at all," the DRHP added. Lenskart IPO More Info The offer comprises a fresh issue of equity shares aggregating up to Rs 21,500 million (the 'fresh issue") and an offer for sale of up to 132,288,941 equity shares by certain existing shareholders, including Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, Promoter Selling Shareholders and 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, Investor Selling Shareholders. It may consider a pre-ipo placement aggregating to Rs 430 crore prior to filing of the RHP. If undertaken, it will be reduced from the fresh issue size. The company proposes to utilise the net proceeds from the IPO for various strategic initiatives, including capital expenditure for setting up new Company-operated Company-owned (CoCo) stores in India; payments related to lease, rent, and license agreements for these CoCo stores; investments in technology and cloud infrastructure; brand marketing and business promotion to enhance brand awareness; potential unidentified inorganic acquisitions; and general corporate purposes. In FY 25, across its brands, it launched 105 new in-house designed and engineered collections globally, including in collaboration with popular brands and celebrities. Additionally, it sold 27.2 million eyewear units across 12.41 million customer accounts in India and Overseas. Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Pvt Ltd, Avendus Capital Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Axis Capital Ltd, Intensive Fiscal Services Pvt Ltd are the Book Running Lead Managers to the Issue. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India Today
18 hours ago
- Business
- India Today
Lenskart takes first step towards IPO, files draft with Sebi
Lenskart Solutions Ltd, one of India's largest eyewear retailers, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), officially starting the process for its initial public offering (IPO). The company aims to raise funds to support its expansion and business to the draft papers, the IPO will include a fresh issue of shares worth up to Rs 2,150 crore and an offer for sale (OFS) of up to 13.23 crore shares by existing include the company's founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with investor shareholders such as 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 may also consider a pre-IPO placement of up to Rs 430 crore before filing the final red herring prospectus (RHP). If this happens, the size of the fresh issue will be reduced by the same company plans to use the net proceeds from the fresh issue for several include spending on setting up new company-owned and company-operated (CoCo) stores across India, paying lease and rental charges for these stores, investing in technology and cloud infrastructure, and funding brand marketing and business promotion to improve brand awareness. A part of the funds may also go towards future mergers or acquisitions and general business IPO will be managed by a group of well-known financial institutions. Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Pvt Ltd, Avendus Capital Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Axis Capital Ltd, and Intensive Fiscal Services Pvt Ltd are acting as the book running lead managers for the proposal to go public was approved at Lenskart's annual general meeting held on July 26. According to media reports, the overall IPO size is expected to be between USD 750 million and USD 1 billion, depending on market conditions and investor prepare for the IPO, Lenskart restructured itself into a public limited company. On May 30, during an extraordinary general meeting, the company changed its name from Lenskart Solutions Private Ltd to Lenskart Solutions was founded in 2008 and began operations as an online platform in 2010. It opened its first physical retail store in New Delhi in 2013. Over the years, it has grown into a major player in the eyewear space with a strong mix of online and offline presence.- Ends advertisement
