Reports state that Lenskart will file its Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) in the coming days
Lenskart, an eyewear brand, has secured the approval of its shareholders to raise money through the initial public offering (IPO), as per reports, which cited the regulatory filings of the company. The shareholders have cleared the proposal to raise Rs 2,150 crore via the IPO.
The reports noted that the total issue size is expected to be around USD one billion. In the coming days, Lenskart will file its Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi), the reports pointed out. Nearly 14 venture-backed new-age companies are looking to raise over Rs 20,000 crore from the public markets this year, the reports highlighted.
A new employee stock option plan, ESOP 2025, comprising 7.2 million shares, has received a green signal from the shareholders, including Abu Dhabi Investment Authority, SoftBank, Kedaara Capital and others, as per the media reports.
The development marks Lenkart’s entry into the club of large new-age firms like Meesho, PhysicsWallah, Pine Labs, Groww that are filing their draft papers with the market regulator this year, the reports emphasised.
