Bengaluru: Peyush Bansal-led Lenskart, which filed its draft red herring prospectus (DRHP) with the market regulator SEBI today, plans to allocate over Rs 800 crore of its IPO proceeds for retail.
As per its DRHP, the eyewear major plans to raise Rs 2,150 crore in fresh capital. Of which, Lenskart will spend Rs 272 crore towards the set-up of new company-owned company-operated (CoCo) retail stores in India and nearly Rs 591 crore for lease, rent, and license agreements related payments for its already operational CoCo stores in India, amounting to a total of Rs 863 crore, as per the DRHP.
As of March 31, 2025, Lenskart operates 2,067 stores in India. Among these, 1,749 are CoCo stores, 318 are Franchisee-owned and Franchisee-operated (FoFo) stores and Company-owned-Franchisee-operated (CoFo) stores.
Citing a Redseer report, the eyewear retailer in its DRHP said that as of March 31, 2025, it operates a total store footprint of 1.65 million square feet in India, which is approximately 2.3 times larger than the store footprint operated by the next leading large, organised retailer of prescription eyeglasses in India.
IPO-bound Lenskart opened 366 CoCo stores in FY25. Sharing a plan of 620 new CoCo stores, the company shared its plans to open 50 stores in FY26 and 190 stores in FY27, FY28 and FY29, each.
Backed by key investors like SoftBank, Premji Invest, Temasek, and the Abu Dhabi Investment Authority (ADIA), Lenskart has been strengthening its presence in international markets. It operates 656 stores across Japan, Southeast Asia, the Middle East, Taiwan, Hong Kong and Australia.
In addition to a strong offline presence, the company operates an omnichannel network. It sells via its mobile app, D2C website, sub-brand websites and apps, e-commerce and quick commerce channels, social media networks and messaging services.
Highlighting its shift towards faster deliveries, Lenksart in the DRHP said that as of March 31, 2025, the retailer offers next-day-delivery services across 40 cities and three-day delivery across 69 cities across India.
In addition to retail expansion, the Gurgaon headquartered company plans to invest around Rs 213 crore in technology and cloud infrastructure and Rs 320 crore in brand marketing and business promotion expenses for enhancing brand awareness. As per Lenskart IPO documents, the company spent around Rs 448 crore, that is, 6.74 per cent of its revenue, on marketing and promotions in FY25.
