India’s IPO Boom Continues: Lenskart Files RHP Ahead of ₹1,000 Crore Issue, Curefoods & Milky Mist Join the Listing Wave
India’s capital markets are witnessing a renewed wave of IPO momentum as leading consumer and FMCG brands prepare for public listings. Lenskart, the homegrown eyewear unicorn, has officially filed its Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI), marking one of the most anticipated IPOs of 2025. Alongside, Curefoods and Milky Mist have also received SEBI approvals for their upcoming public issues, signaling strong investor appetite in the consumer-tech and dairy sectors.
Lenskart IPO: India’s Eyewear Giant Steps into the Market
According to the RHP filed with SEBI, Lenskart’s IPO will open on October 31, 2025, aiming to raise approximately USD 125 million (₹1,000 crore equivalent). The offering will primarily facilitate partial exits for existing investors and fund future expansion.
Key Highlights
IPO Value: Approx. USD 125 million
Use of Proceeds: Expansion, technology investments, and partial promoter offload
Expected Returns: Up to 17x for early investors, including SoftBank and KKR
Lead Managers: Axis Capital, Kotak Mahindra Capital, and Morgan Stanley
Founded by Peyush Bansal, Lenskart has emerged as one of India’s most successful omnichannel retail models, serving over 2 crore customers across 2,500+ stores and a growing online marketplace.
The IPO reflects investor confidence in India’s digital-first retail growth story, driven by increased online penetration and premiumization in eyewear consumption.
FMCG & Consumer Listings: Curefoods and Milky Mist Secure SEBI Nod
Beyond Lenskart, two major consumer brands — Curefoods and Milky Mist — have received SEBI’s approval for their respective IPO listings.
Curefoods (Food-Tech & D2C Cloud Kitchen)
Backed by investors like Iron Pillar and Binny Bansal, Curefoods operates multiple online food brands including EatFit and Sharief Bhai.
The IPO will help the company expand cloud kitchens, strengthen brand partnerships, and scale across Tier-2 and Tier-3 markets.
Milky Mist (Dairy & FMCG)
One of South India’s fastest-growing dairy brands, Milky Mist’s IPO reflects India’s FMCG formalization and rising demand for value-added dairy products.
The proceeds will support manufacturing expansion and supply chain modernization to meet pan-India demand.
The Broader Market Context
India’s IPO pipeline remains robust in FY25, buoyed by favorable macroeconomic conditions, high domestic liquidity, and strong retail investor participation.
The BSE IPO index has gained 22% YTD, outperforming the broader market.
SEBI’s streamlined IPO approval timelines and digital disclosure norms under the Listing Reforms 2025 initiative have accelerated filings.
From consumer tech to fintech and manufacturing, more than 35 companies are expected to go public in the coming quarters, reflecting India’s deepening equity culture.
Global and Domestic Implications
India’s recent IPO surge contrasts with muted global listings amid economic uncertainty.
While U.S. and European IPOs remain cautious, India’s strong retail investor base and digital-first valuation narratives are drawing global funds back to Indian equities.
Foreign Portfolio Investors (FPIs) are increasing exposure to Indian IPOs, particularly in fintech, FMCG, and tech-enabled sectors.
This momentum positions India as one of the world’s most active IPO markets in 2025.
Key Takeaways
Lenskart’s IPO opens October 31, 2025, targeting USD 125 million.
Early investors may see up to 17x returns.
Curefoods and Milky Mist receive SEBI approval, signaling continued IPO optimism.
India’s IPO market remains resilient despite global headwinds, backed by domestic demand and policy stability.
SEBI’s reforms have made the listing process faster, digital, and transparent.
Conclusion
India’s 2025 IPO landscape highlights a maturing capital market ecosystem where innovation-driven companies are transitioning from private to public ownership. With consumer demand surging and digital-first business models proving scalable, India’s startup-to-IPO pipeline is stronger than ever.
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FAQ'S
1. When will Lenskart’s IPO open?
Lenskart’s IPO opens on October 31, 2025.
2. How much is Lenskart expected to raise?
Approximately USD 125 million (₹1,000 crore).
3. Who are Lenskart’s key investors benefiting from the IPO?
Early investors like SoftBank, KKR, and TPG are expected to make up to 17x returns.
4. Which companies recently got SEBI approval for IPOs?
Curefoods and Milky Mist have both received SEBI nods.
5. Why is India’s IPO market booming?
A combination of regulatory reforms, investor confidence, and high domestic liquidity continues to fuel IPO momentum.
