Lenskart Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering (IPO) comprising of Fresh issue of Equity shares aggregating up to ₹2,150 crore and Offer for sale (OFS) of 13.2 crore equity shares by existing selling shareholders.
Founded in 2010, Lenskart is one of India’s leading omni-channel eyewear retailers, known for its online platform, extensive offline retail presence, and disruptive approach to the eyewear market.
Also Read: Khaitan & Co Advises on Dixon‑Longcheer JV Securing MEITY / PN 3 Approval for ODM Expansion in India
Parties Involved
Issuer: Lenskart Solutions Limited
Promoter Selling Shareholders: Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi
Institutional Selling Shareholders: Softbank, Kedaara Capital, KKR, Premji Invest, Temasek, TR Capital, Alpha Wave Ventures, Epiq Capital, Schroders Capital, Bay Capital Holdings, Madison India Opportunities, Chiratae Trust
Book Running Lead Managers (BRLMs):
Kotak Mahindra Capital Company, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, Intensive Fiscal ServicesIndian Legal Counsel:
Cyril Amarchand Mangaldas (CAM) – Advising the issuer and promoter selling shareholders
Shardul Amarchand Mangaldas & Co (SAM) – Advising the BRLMs
Trilegal – Advising the institutional selling shareholders
International Legal Counsel:
Sidley Austin – Advising the BRLMs
Advisory Teams
Cyril Amarchand Mangaldas (Issuer & Promoter Selling Shareholders):
Capital Markets Team: Yash J. Ashar (Senior Partner) (Lead), Aashima Johur (Partner), Mansi Jhaveri (Principal Associate) Priyanka Khetwal (Senior Associate), and Associates Rishi Nandkeolyar, Aditya Singh, Dhawal Nirash, Kanika Bhakhna, Gaurav Lalwani, and Adhiraj Andlay.
Promoter Advisory: Gokul Rajan (Partner), Chinar Gupta (Principal Associate), Vatsala Parashar (Associate).
Employment Law: Bharath Reddy (Partner), Simran Jain (Senior Associate), Mayank Jain (Associate).
Shardul Amarchand Mangaldas (BRLMs):
Prashant Gupta (National Practice Head – Capital Markets), Sayantan Dutta (Partner), Megha Mehta (Senior Associate).
Sidley Austin (International Counsel to BRLMs):
Manoj Bhargava (Partner).
Trilegal (Institutional Selling Shareholders):
Brajendu Bhaskar (Partner), Malika Grewal (Counsel), Pratyusha Dasgupta (Associate), Tushar Chitlangia (Associate).
Key Transaction Highlights
The IPO will allow Lenskart to raise fresh capital for expansion while providing partial exits to existing institutional and promoter shareholders.
The deal features multi-jurisdictional legal coordination, with CAM, SAM, Sidley Austin, and Trilegal involved across issuer, selling shareholders, and BRLM mandates.
Lenskart’s business model integrates technology-driven features like virtual try-on tools and home eye exams, catering to a tech-savvy customer base.
Strategic Significance
The IPO positions Lenskart as one of the largest consumer-tech listings in India’s capital markets.
With significant institutional participation, the offer could strengthen investor confidence in India’s consumer discretionary sector.
The proceeds from the fresh issue are expected to be deployed towards network expansion, technology investments, debt repayment, and working capital requirements.
Why It Matters
India’s eyewear market remains largely unorganized, and Lenskart’s listing could catalyze further consolidation and formalization.
The transaction demonstrates the complexity of IPOs with diverse shareholder classes and multiple cross-border legal teams, underscoring the importance of meticulous structuring and regulatory compliance.
For more legal deal updates and analysis, stay tuned to TheCourtroom.in
Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
