Lenskart to raise $250 million in Indian IPO

Image of sunglasses. — The IPO is being managed by Morgan Stanley, Kotak Mahindra Capital, Axis Capital Holdings and Citi. (Source: Facebook)

By Darshana Gupta July 30, 2025

Text Size

Indian eyewear retailer Lenskart has filed for an initial public offering, issuing new shares worth US$247.6 million, according to its draft prospectus.

The company’s larger shareholders, known as ‘promoters’, will sell a combined 132.3 million shares, including shares of Mumbai-based private equity firm Kedaara Capital, Singaporean state investment company Temasek, and Japan’s SoftBank.

Morgan Stanley, Kotak Mahindra Capital, Axis Capital Holdings and Citi are managing the IPO.

According to the draft prospectus filed with the Securities and Exchange Board of India (SEBI), the income from the new shares issued will be used to invest in new company-owned, company-operated stores across the country.

The proceeds from the shares will also be used to improve technology, cloud infrastructure and general corporate purposes.

Founded in 2010, Lenskart has been valued at US$6.1 billion as of June 13 and has a debt of US$57 million as of March 2024, according to data provider Tracxn.