CAM, SAM, Sidley Austin, Trilegal frame Lenskart’s upcoming Rs.2,150+cr IPO, ETLegalWorld
Cyril Amarchand Mangaldas is guiding leading Indian eyewear retailer Lenskart Solutions on its proposed initial public offering which comprises a fresh issue of INR 2,150 crore and an offer for sale of 13.2 crore equity shares. Shardul Amarchand Mangaldas and Sidley Austin are acting as domestic and international counsel, respectively, for the book running lead managers.
Trilegal acted for the investor selling shareholders, comprising SVF II Lightbulb, Schroders Capital Private Equity Asia, PI Opportunities Fund – II, Macritchie Investments, Kedaara Capital Fund, and Alpha Wave Ventures.
CAM also advised the promoter selling shareholders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.
The BRLMs comprise Kotak Mahindra Capital Company, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services.
Lenskart has filed its draft red herring prospectus on July 28 with SEBI, targeting ₹2,150 crore through a fresh issue that values the eyewear giant at up to $10 billion. Peyush Bansal’s brainchild took a different path than many tech startups by choosing a public DRHP filing over the confidential route that’s become fashionable.
This comes during a year when DRHP filings hit record levels, though actual launches have been sluggish thanks to jittery markets and global uncertainty.
Market watchers expect the IPO to open between October and December, pending SEBI’s green light. For investors, it represents a rare chance to bet on India’s retail transformation and the growing demand for vision solutions.
India’s eyewear market, worth $10.4 billion last year, is racing toward $19.6 billion by 2033. Three forces are driving this surge: endless screen time creating digital eye strain, urban centers seeing more vision correction needs, and middle-class wallets getting fatter.
The cam team Advising lenskart was led by Senior Partner Yash Ashar and Partner Aashima Johur with Support from Principal Associate Mani Jhaveri, Senior Associate Priyanka Khetwal, Associates Rishi Nandkeolyar, Aditya Singh, Dhawal Nirash, Kanika Bhakhna, Gaurav Lalwani and Adihiraj Andlay.
The promoter selling shareholders were represented by CAM partner Gokul Rajan with support from principal associate Chinar Gupta and associate Vatsala Parashar.
CAM partner Bharath Reddy, with support from senior associate Simran Jain and associate Mayank Jain, advised on the employment law related aspects of the transaction.
SAM’s capital markets team was led by practice head Prashant Gupta and partner Sayantan Dutta, and included senior associate Megha Mehta.
Trilegal’s team acting for the investor selling shareholders was led by partner Brajendu Bhaskar and included counsel Malika Grewal, and associates Pratyusha Dasgupta and Tushar Chitlangia.