Sidley Advises on the US$821 Million IPO of Lenskart

Sidley advised the book running lead managers Kotak Mahindra, Morgan Stanley, Avendus Capital, Citigroup, Axis Capital, and Intensive Fiscal Services on the US$821 million initial public offering (IPO) of equity shares of Lenskart Solutions Limited (Lenskart) and its listing on the Bombay Stock Exchange and the National Stock Exchange of India. The offering included a US$21 million pre-IPO sale, bringing the total offering size to US$842 million.

Lenskart is a direct-to-consumer company that designs and sells a wide range of eyewear products under its own brands and sub-brands, such as Owndays, John Jacobs, and Vincent Chase. Lenskart is India’s first eyewear-only company to go public and is the country’s largest — and among Asia’s leading — organized retailers of prescription eyewear by eyeglass volume.

The Sidley team was led by Manoj Bhargava (Singapore) and included Dhanush Dinesh and legal assistant Sanketh Hareesh Kumar (both Singapore) and Harekrishna J. Ashar (London) with support from Daniel O’Shea, Carla G. Teodoro, Nicholas R. Brown, Robert M. Kreitman, and Alvin Wang (all New York), Shigeyuki Ito (Tokyo), and Shu Min Ho (Singapore).

Sidley is one of the most experienced international law firms advising on India-related capital markets transactions, having acted on many of the market’s largest and most high-profile offerings in recent years. This year, Sidley’s award-winning India practice advised on the record-breaking US$1.75 billion IPO of Tata Capital — representing India’s largest IPO of 2025, the largest-ever public offering by a nonbanking financial company (NBFC) in India, and the fourth-largest IPO in Indian history. In 2024, Sidley advised on the landmark US$2.15 billion FPO of Vodafone Idea — marking India’s largest-ever follow-on public offering of equity shares. In 2023, Sidley advised on Mankind Pharma’s US$530 million IPO, the largest India IPO of 2023. Sidley has also represented issuers and underwriters on other prominent consumer-sector listings, including the IPOs of Nykaa, FirstCry, and Mamaearth. The India Business Law Journal has ranked Sidley a “Top Foreign Law Firm” for India-related work for eight consecutive years.