National, October 27, 2025: Lenskart Solutions Limited (the “Company”) proposes to open an initial public offering (“Offer”) of its equity shares of face value of ₹2 each (“Equity Shares”) on Friday, October 31, 2025. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Thursday, October 30, 2025. The Bid/ Offer Closing Date is Tuesday, November 04, 2025.
The Price Band of the Offer has been fixed from ₹ 382 perEquity Share of face value ₹2 each to ₹ 402 per Equity Share of face value ₹2 each. Bids can be made for a minimum of 37 Equity Shares of face value ₹2 each and multiples of 37 Equity Shares of face value ₹2 each thereafter. A discount of ₹19 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
The offer comprises a fresh issue of equity shares aggregating up to ₹21,500 million (the “fresh issue”) and an offer for sale of up to 127,562,573 equity shares by certain existing shareholders, including Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi (“Promoter Selling Shareholders”) and SVF II Lightbulb (Cayman) Limited, Schroders Capital Private Equity Asia Mauritius Limited, PI Opportunities Fund – II, MacRitchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP (“Investor Selling Shareholders”). The Offer comprises of an Employee Reservation Portion aggregating up to ₹150 million with the balance offer size being called as the “Net Offer”.
The Offer is being made in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(2) of SEBI ICDR Regulations, wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to QIBs (the “QIB Portion”), provided that our Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for the domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds (“Mutual Fund Portion”), and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, of which (a) one-third of such portion shall be reserved for Bidders with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-third of such portion shall be reserved for Bidders with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in the other sub-category of Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to RIBs in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All potential Bidders, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account (including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter)) in which the corresponding Bid Amounts will be blocked by the SCSBs, or under the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.
The Equity Shares of the Company are proposed to be listed on BSE Limited (“BSE“) and the National Stock Exchange of India Limited (“NSE”) (BSE and NSE together, the “Stock Exchanges”).
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, and Intensive Fiscal Services Private Limited are the Book Running Lead Managers (“BRLMs”) to the issue.
All capitalised terms not defined herein would have the same meaning as attributed to them in the RHP.
Disclaimer:
Lenskart Solutions Limited is proposing, subject to, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with the RoC on October 25, 2025. The RHP shall be available on the website of the Company at www.lenskart.com, SEBI at www.sebi.gov.in, as well as on the websites of the BRLMs, i.e. Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited and Intensive Fiscal Services Private Limited at https://investmentbank.kotak.com,www.morganstanley.com/, www.avendus.com, https://www.citigroup.com/global/about-us/global-presence/india/disclaimer, www.axiscapital.co.in andwww.intensivefiscal.com, respectively and the websites of National Stock Exchange of India Limited and BSE Limited at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see “Risk Factors” on page 64 of the RHP. Potential investors should not rely on the DRHP for making any investment decision and instead should place reliance on the RHP. Specific attention of the investors is invited to “Risk Factors” beginning on page 64 of the RHP.
This announcement has been prepared for publication in India only and is not for publication or distribution, directly or indirectly, in or into the United States. The equity shares described in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended {the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
Accordingly, the Equity Shares are being offered and sold (i) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A of the U.S. Securities Act) pursuant to Section 4(a) of the U.S. Securities Act, and (ii) outside the United States in “offshore transactions”, as defined in and in reliance on, Regulation S of the U.S. Securities Act and the applicable laws of the jurisdictions where those offers and sales occur. There will be no public offering of securities in the United States.