The IPO approval of six companies, including the well-known Lenskart Solutions Ltd and Wakefit Innovations Ltd, by the Securities and Exchange Board of India (SEBI) is a major development for the startup ecosystem in India. IPO proceeds are to be used for expansion, branding, and strategic purposes.
Lenskart, the largest organized eyewear retailer in India, has recently been granted IPO approval by the regulator, making it the first standalone eyewear company to get listed on a stock exchange in India.
The firm is looking to raise Rs. 2,150 crore through a fresh issue of equity shares. It will use the funds to increase its company-owned stores, amplify technology and cloud infrastructure, as well as general corporate purposes.
Established in 2010, Lenskart has more than 2,000 stores across the world and has investors including SoftBank, Temasek, and KKR. The IPO is provisionally planned to list in November 2025.
Bengaluru-based home furnishings firm Wakefit Innovations received SEBI's approval for its IPO. The firm plans to raise Rs. 468 crore via a fresh issue of equity shares.
Funds will be utilized to increase its retail footprint, purchase equipment, spend on marketing, pay for lease obligations, and cater to general corporate purposes.
Wakefit has five plants located in Karnataka, Haryana, and Tamil Nadu and is funded by investors such as Peak XV Partners and Verlinvest.
Aside from Wakefit and Lenskart, SEBI has approved four other companies' IPOs:
Tenneco Clean Air India: To raise a Rs. 3,000-crore IPO, solely through an offer for sale by the promoter, Tenneco Mauritius Holdings Ltd. There is no fresh issue of equity.
Waterways Leisure Tourism: Seeking to raise Rs. 727 crore by a new issue of equity shares. The amount will be utilized to make lease payments and general corporate expenses.
Shree Ram Twistex: Gujarat-based firm that wants to raise the amount to establish solar and wind power projects, repayment of loans, and working capital needs.
Lamtuf: Suggesting a combination of new issue and OFS, where the proceeds would go towards increasing its Telangana manufacturing plant and meeting working capital requirements.
The approval of these IPOs is an important milestone for these companies in tapping public markets and driving their growth plans. Investors will be keenly observing these developments as the companies approach their market listing.