Eyewear Retailer Lenskart IPO To Open On October 31

Eyewear retailer Lenskart’s preliminary public offering (IPO) will open for bidding on October 31 and shut on November 4 as the company plans to spice up capital by way of the up to date scenario and provide in the marketplace of shares.

The anchor patrons’ subscription will open on October 30.

Most of the people provide accommodates a up to date scenario of equity shares worth as a lot as Rs 2,150 crore and a suggestion in the marketplace of as a lot as 132.29 million shares by current shareholders, along with promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.

Completely different patrons offloading shares embody SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia Mauritius, PI Options Fund – II, Macritchie Investments, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP.

The eyewear retailer plans to utilize the proceeds to rearrange new company-operated retailers, put cash into experience and cloud infrastructure, mannequin promoting and advertising and marketing, potential inorganic acquisitions, and regular firm capabilities.

Simply recently, billionaire investor Radhakishan Damani, founding father of Avenue Supermarts (DMart), invested spherical Rs 90 crore in Lenskart in a pre-IPO funding spherical.

The company, one among India’s largest omni-channel eyewear retailers, supplies quite a lot of fairly priced and stylish prescription eyeglasses, sunglasses, and make contact with lenses by way of its on-line platform and intensive retail neighborhood.

Based mostly in 2008 by Peyush Bansal, Lenskart started as an web eyewear platform in 2010 and opened its first bodily retailer in New Delhi in 2013. Over time, it has superior into one in all many nation’s most excellent consumer producers throughout the eyewear class.

The company has a presence all through metro, Tier I, and II cities, along with worldwide operations in Southeast Asia and the Heart East.