Lenskart, the leading omnichannel eyewear retailer in India, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), according to multiple sources. The company is expected to file its updated prospectus in the coming weeks, targeting a mid-November stock market debut.
With a fresh equity raise planned at ₹2,150 crore and an offer-for-sale component involving founders and major investors selling up to 132.3 million shares, the total IPO size is expected to be in the range of ₹7,500–8,000 crore (approximately $850–900 million), making it one of the largest public listings in India in 2025.
A month earlier, it secures Shareholders’ Nod to Raise Rs 2,150 Crore via IPO
Lenskart’s Financial Performance and Growth Trajectory
Lenskart posted a solid financial turnaround in FY25, recording revenue growth of 22.6% year-on-year to ₹6,653 crore from ₹5,428 crore in FY24. This growth was accompanied by a shift from a net loss of ₹10 crore in FY24 to a net profit of ₹297 crore in FY25, reflecting improved operational efficiencies and strong market demand. The key drivers of revenue growth included expansion in both online and offline channels, increased store presence, and an enhanced product portfolio. Lenskart’s EBITDA margin also turned positive, supporting a more robust financial position ahead of the public listing.
The company plans to use IPO proceeds towards expanding its company-owned, company-operated (CoCo) store network, strengthening brand marketing and promotional activities, upgrading technology and cloud infrastructure, and pursuing strategic inorganic acquisitions to bolster market presence further.
Recently, Blinkit has come up with an exciting new service that delivers glasses in just 10 minutes, thanks to a partnership with Lenskart. According to a post by Blinkit’s founder, there’s no need for a prescription. Customers can open the Blinkit app, pick their power from options like -0.25, -0.5, up to -1.5, choose their favourite frame colour, and place the order easily.
Funding History and Key Investors
Since its founding, Lenskart has raised over $1.8 billion across multiple funding rounds. Its investor base includes global giants such as SoftBank Vision Fund, Abu Dhabi Investment Authority (ADIA), Temasek, Fidelity, Kedaara Capital, KKR, and Premji Invest. In the latest funding rounds during 2023 and early 2024, Lenskart secured sizable investments of $500 million from ADIA and $100 million from ChrysCapital. Many of these rounds included secondary share sales, enabling earlier investors and founders to partially exit at attractive valuations.
Other Startups with SEBI’s Approvals and Upcoming Public Listings
Lenskart joins an active list of promising Indian startups recently granted SEBI approval to go public, indicative of robust momentum in India’s public market. Notable approvals include:
- boAt (Imagine Marketing), a leading wearables brand, preparing for an listing after multiple confidential filings.
- Capillary Technologies, offering customer engagement SaaS solutions, aiming to raise ₹430 crore in fresh funds , finally secured approval from SEBI.
- Groww, the wealthtech platform, ramping up founder stake ahead of public listing.
- Pine Labs, the retail payments fintech, also progressing toward its public market debut.
Furthermore, close to 70 companies have DRHPs under review by SEBI, set to raise more than ₹1.4 trillion cumulatively, encompassing sectors from fintech and SaaS to consumer brands and e-commerce logistics. This public offering pipeline confirms strong investor appetite and positive underlying macroeconomic fundamentals for technology-driven companies in India.
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In conclusion, Lenskart’s SEBI nod and impending Initial public offering signify a milestone both for the company’s growth journey and India’s evolving capital markets ecosystem. Backed by strong financials, global investor trust, and strategic expansion plans, Lenskart is well-positioned for a successful public debut expected in mid-November 2025. Alongside peers like boAt, Capillary, and Groww, Lenskart epitomizes the new wave of Indian tech startups ready to scale on the D-Street platform.
