Lenskart Solutions and Wakefit Innovations Among Six Companies Approved by Sebi for IPOs

Eyewear retailer Lenskart Solutions Ltd, home and furnishings company Wakefit Innovations Ltd, and four other firms have received approval from Sebi to raise funds through initial public offerings (IPOs), according to a market regulator update. Tenneco Clean Air India, Cordelia Cruises operator Waterways Leisure Tourism, cotton yarns manufacturer Shree Ram Twistex, and industrial laminates manufacturer Lamtuf are also among those approved. Collectively, these companies aim to raise over Rs 6,500 crore through their IPOs.

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The six companies submitted their preliminary IPO documents to Sebi between June and July. They received regulatory observations between September 26 and October 3. In regulatory terms, Sebi's observations equate to clearance for launching a public issue. This approval comes amid a surge in primary market activity in India, despite challenges in the broader equity market. In 2025, 80 companies have already accessed the mainboard market through initial public offerings, with more planned for this month.

IPO Plans of Lenskart Solutions

Lenskart Solutions plans to raise Rs 2,150 crore through fresh equity shares issuance. Promoters and investors will sell 13.22 crore equity shares, as per the draft red herring prospectus (DRHP). The proceeds will fund strategic initiatives like setting up new Company-operated Company-owned (CoCo) stores in India. Additionally, funds will cover lease payments, technology investments, brand marketing, potential acquisitions, and general corporate purposes.

Wakefit Innovations' IPO Strategy

Wakefit Innovations' proposed IPO includes a fresh issue of equity shares worth up to Rs 468.2 crore and an offer for sale (OFS) of 5.84 crore shares by selling shareholders. The Bengaluru-based company plans to use Rs 82 crore from the fresh issue for establishing 117 new COCO - Regular Stores and one COCO - Jumbo Store. Additionally, Rs 15.4 crore will go towards purchasing new equipment and machinery.

The company also intends to allocate Rs 145 crore for lease and sub-lease rent payments for existing stores. Furthermore, Rs 108.4 crore will be directed towards marketing expenses to boost brand visibility. The remaining funds will be used for general corporate purposes.

Details on Tenneco Clean Air India's IPO

Tenneco Clean Air India is set to launch a Rs 3,000-crore IPO. This offering is entirely an Offer of Shares by the promoter, Tenneco Mauritius Holdings Ltd, with no fresh equity issuance involved. Consequently, the company will not receive any proceeds from the IPO; all funds raised will go directly to the selling shareholder.

Waterways Leisure Tourism's Fundraising Plans

Waterways Leisure Tourism aims to raise Rs 727 crore through its maiden public offering, which consists entirely of fresh share issuance. Proceeds amounting to Rs 552.53 crore will be used for deposits or advanced lease rental payments for its step-down subsidiary, Baycruise Shipping and Leasing IFSC Private Ltd. A portion of the funds will also be allocated for general corporate purposes.

Shree Ram Twistex's Renewable Energy Investment

Gujarat-based Shree Ram Twistex plans an IPO consisting entirely of a fresh issue of 1.06 crore equity shares. The funds raised will finance a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use. Additionally, proceeds will address debt repayment and working capital needs.

Lamtuf's Expansion Plans

Lamtuf's IPO includes a mix of a fresh issue of 1 crore shares and an OFS of 20 lakh shares by promoters. Proceeds from the fresh issue will support part-financing the expansion of its existing manufacturing facility in Telangana. Funds will also cover working capital requirements and general corporate purposes.

These developments highlight the ongoing momentum in India's primary market activity as companies seek capital for growth and expansion initiatives across various sectors.

With inputs from PTI