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Lenskart Solutions, which is backed by marquee global investors - Softbank, ADIA, Temasek, and Kedaara Capital, is set to open its maiden public issue next week on Oct. 31. The Peyush Bansal-led eyewear products maker will raise Rs 2,150 crore via fresh shares, while promoters and investors will be offloading 12.75 crore equity shares via offer-for-sale..IPO StructureThe Lenskart IPO comprises a fresh issue of equity shares aggregating up to Rs 2,150 crore and an offer-for-sale of up to 12.75 crore shares by existing shareholders.These include the likes of Softbank Vision Fund, Kedaara Capital, TR Capital, and Chiratae Ventures..Use of ProceedsAs per the Red Herring Prospectus (RHP), Lenskart will deploy the fresh issue proceeds mainly for lease and rent payments for company-owned, company-operated (CoCo) stores in India.Lenskart has allocated as much as Rs 591 crore for the management and sustenance of these CoCo stores.Around Rs 320 crore will be used for marketing business promotion while Rs 276 crore will be used as capital expenditure to set up new CoCo stores in India. Lenskart also aims to utilise Rs 213 crore for investing in technology and cloud infrastructure. Remaining funds will be used for general corporate purposes..Orkla India IPO: MTR Parent Prioritises Dividend Over Growth Capital
