Overview

• SEBI issued observations between September 26 and October 3, including on October 3 for Lenskart and Wakefit, which constitutes approval to proceed with their IPOs.
• Lenskart’s offer comprises a Rs 2,150 crore fresh issue and an OFS of about 13.22 crore shares by promoters Peyush and Neha Bansal, Amit Chaudhary, Sumeet Kapahi, and investors including SVF II Lightbulb, Schroders, PI Opportunities, Macritchie, Kedaara, and Alpha Wave.
• The eyewear retailer plans to use proceeds for new company-operated stores, lease and rental payments, technology and cloud investments, brand marketing, potential inorganic acquisitions, and general corporate purposes.
• Wakefit is seeking up to Rs 468.2 crore via a fresh issue alongside an OFS of 5.84 crore shares, with promoters Ankit Garg and Chaitanya Ramalingegowda and investors such as Peak XV Partners, Verlinvest, Redwood Trust, Paramark, Investcorp funds, SAI Global India Fund, and Nitika Goel selling.
• Wakefit’s fresh-issue proceeds are earmarked for 117 COCO regular stores and one jumbo outlet (Rs 82 crore), lease and license fees (Rs 145 crore), marketing (Rs 108.4 crore), equipment (Rs 15.4 crore), and general corporate purposes.