In a significant development for India’s startup ecosystem, eyewear retailer Lenskart Solutions and home and sleep solutions company Wakefit Innovations have secured approval from the Securities and Exchange Board of India (SEBI) to proceed with their Initial Public Offerings (IPOs). This marks a pivotal step for both companies as they prepare to tap into public markets for capital to fuel their growth and expansion plans.
Lenskart’s Rs 2,150 Crore IPO:
Lenskart, India’s largest omnichannel eyewear retailer, plans to raise Rs 2,150 crore through its IPO. The offering comprises a fresh issue of equity shares and an offer for sale (OFS) by existing shareholders. The funds raised will be utilized to expand its company-owned retail outlets, enhance technology and cloud infrastructure, and meet general corporate needs.
Founded in 2010, Lenskart has grown significantly, now operating 2,067 stores in India and 656 internationally. With an industry poised for double-digit growth, driven by increasing vision problems and expanded healthcare access, analysts see high potential for the company, which was valued at $6.1 billion as of September 2025.
Wakefit’s Rs 468 Crore IPO:
Wakefit Innovations, known for its direct-to-consumer home and sleep solutions, aims to raise Rs 468.2 crore through its IPO. The offering includes a fresh issue of equity shares and an OFS of 5.84 crore shares by promoters and existing investors. The funds raised will support capital expenditure, marketing, brand-building, and general corporate needs.
Founded in 2016, Wakefit has expanded into a broader home solutions business with both online and offline distribution, operating five manufacturing units across Karnataka, Haryana, and Tamil Nadu. The company reported Rs 636 crore in revenue and an Rs 18.4 crore loss for the nine months ending December 2024, compared to Rs 813 crore in revenue and an Rs 7.3 crore loss in FY 2023-24, showing an improvement from the Rs 49.6 crore loss in 2022-23.
Strategic Implications:
The approval of these IPOs reflects the growing investor confidence in India’s consumer-focused startups. Both Lenskart and Wakefit are well-positioned to capitalize on the expanding middle-class consumer base and the increasing demand for quality home and lifestyle products. The capital raised through these IPOs will enable the companies to accelerate their growth strategies, enhance their product offerings, and strengthen their market presence.
As these companies prepare for their public market debut, all eyes will be on their performance and the broader implications for the Indian startup ecosystem.
