Lenskart Sets IPO Price Band; Lists Nov 10

Lenskart Solutions has set an IPO price band of Rs 382–402 per share (lot size 37), with the anchor book on Oct. 30, public subscription from Oct. 31–Nov. 4, allotment expected Nov. 6 and listing likely on BSE/NSE from Nov. 10. The offer comprises a fresh issue to raise Rs 2,150 crore plus an offer-for-sale of about 127.5–132.3 million shares, and at the top of the band the company’s valuation is roughly Rs 695 billion (~$7.9 billion). Promoters — Peyush and Neha Bansal, Amit Chaudhary and Sumeet Kapahi — and investors including SoftBank, Temasek, Kedaara, Alpha Wave, Schroders, PI Opportunities and MacRitchie are selling shares in the OFS; eligible employees get a Rs 19-per-share discount and at least 75% of the issue is reserved for QIBs. Lenskart said it will use IPO proceeds to expand company-owned stores, cover lease/rent payments, invest in technology and cloud infrastructure, fund marketing and pursue potential acquisitions as it grows its omnichannel footprint in India and overseas. The offering follows a Rs 90 crore pre-IPO investment from billionaire Radhakishan Damani and comes after a FY25 turnaround with reported net profit of Rs 297 crore on revenue of Rs 6,652.5 crore, up 23% year-on-year.