Eyewear retailer Lenskart has filed the red herring prospectus for its Rs 7,300-crore initial public offering (IPO), which will be launched on October 31. The IPO, which will close on November 4, will see Lenskart raise Rs 2,150 crore and shareholders sell stake worth Rs 5,128 crore via the offer-for-sale portion.
The IPO will value Lenskart at nearly Rs 70,000 crore, and the company’s shares will get listed on the exchanges on November 10.
The OFS portion has been downsized from 132.3 million shares earlier to 127.5 million shares to accommodate for the pre-IPO secondary transaction conducted by Lenskart cofounder Neha Bansal, who sold sold Rs 90 crore worth of stock to Shrikanta R Damani, wife of Dmart promoter Radhakishan Damani. This transaction was done at a per share price of Rs 402.
The Gurugram-based company also reported its April-June quarter numbers in its RHP – posting a 25% growth in operating revenue to Rs 1,894 crore. Lenskart swung to a Rs 61 crore net profit during the quarter, compared to a Rs 11 crore loss in the same period last year.
ET had reported earlier that Lenskart is targeting a valuation of Rs 70,000-75,000 crore (around $9 billion) for its public issue.
Its investors, including founders Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, are participating in the OFS portion. Other marquee investors including SoftBank, TR Capital, Kedaara and TPG Growth are also selling shares in the company.
Lenskart had noted in its prospectus that it plans to deploy about Rs 272 crore from the fresh capital proceeds to open new stores across India, while around Rs 591 crore will go towards leasing, rentals, and other operational expenses for its existing network of over 2,800 outlets.
Also Read | ETtech Explainer: Inside Lenskart’s upcoming Rs 8,000-crore IPO
The IPO will value Lenskart at nearly Rs 70,000 crore, and the company’s shares will get listed on the exchanges on November 10.
The OFS portion has been downsized from 132.3 million shares earlier to 127.5 million shares to accommodate for the pre-IPO secondary transaction conducted by Lenskart cofounder Neha Bansal, who sold sold Rs 90 crore worth of stock to Shrikanta R Damani, wife of Dmart promoter Radhakishan Damani. This transaction was done at a per share price of Rs 402.
The Gurugram-based company also reported its April-June quarter numbers in its RHP – posting a 25% growth in operating revenue to Rs 1,894 crore. Lenskart swung to a Rs 61 crore net profit during the quarter, compared to a Rs 11 crore loss in the same period last year.
ET had reported earlier that Lenskart is targeting a valuation of Rs 70,000-75,000 crore (around $9 billion) for its public issue.
Its investors, including founders Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, are participating in the OFS portion. Other marquee investors including SoftBank, TR Capital, Kedaara and TPG Growth are also selling shares in the company.
Lenskart had noted in its prospectus that it plans to deploy about Rs 272 crore from the fresh capital proceeds to open new stores across India, while around Rs 591 crore will go towards leasing, rentals, and other operational expenses for its existing network of over 2,800 outlets.
Also Read | ETtech Explainer: Inside Lenskart’s upcoming Rs 8,000-crore IPO