Lenskart, Wakefit Among Six Firms Secure SEBI Nod for IPOs Worth Over ₹6,500 Crore

New Delhi, October 7: Securities and Exchange Board of India (SEBI) approved initial public offers (IPO) of six companies, including Lenskart Solutions Ltd and Wakefit Innovations Ltd, clearing their way for their first mainboard listings shortly. Other firms approved are Lamtuf, Shree Ram Twistex, Waterways Leisure Tourism (operator of Cordelia Cruises), and Tenneco Clean Air India.

These companies are expected to raise a total of more than ₹6,500 crore through their IPOs, a latest notification issued by SEBI on Monday reveals.

SEBI Approvals Amid Strong Primary Market Activity

All six companies had submitted their draft red herring prospectuses (DRHPs) in July and June 2025, and their final observations were issued by SEBI between September 26 and October 3, marking formal approval to commence their public issue offerings.

The regulatory nods come amid a vibrant primary market, where a total of 80 companies have gained access to the main board so far this year, despite upheavals across broader equities gauges. Several other IPOs are scheduled for October, indicating that investor demand for new business entries will likely remain strong.

Lenskart Eyes ₹2,150 Crore Fundraise

Eye-wear retailer Lenskart Solutions Ltd is set to raise ₹2,150 crore through a fresh issue of shares, in addition to the offer-for-sale (OFS) of 13.22 crore stake sale by promoters and investors.

The funds will be utilized by the corporation for its capital expenditures, including new Company-operated Company-owned (CoCo) stores, lease and rent, technology and cloud expenditures, brand marketing, potential inorganic acquisitions, and other corporate activities.

Wakefit Plans ₹468.2 Crore Issue

Home and furniture firm Wakefit Innovations Ltd is set to issue a ₹468.2 crore IPO, a fresh issue, and an OFS of 5.84 crore shares. Out of the total proceeds, ₹82 crore will be utilized for opening new CoCo Regular Stores and a Jumbo Store, a total of 117 new stores. Additionally, ₹15.4 crore will be allocated for new machines, and ₹145 crore will be allocated for lease rentals and other expenses. Additionally, ₹108.4 crore will be utilized for brand marketing and advertisements, while the remaining amount will be allocated for general corporate purposes.

Tenneco Clean Air India to Raise ₹3,000 Crore

Tenneco Clean Air India, a major auto component company, has received approval for a ₹3,000 crore IPO, which will be a full Offer-for-Sale by its parent, Tenneco Mauritius Holdings Ltd. The funds at stake will not actually reach the corporation, as they all accrue to the selling shareholder.

Cordelia Cruises Operator to Raise ₹727 Crore

Waterways Leisure Tourism, owner of Cordelia Cruises, seeks to raise ₹727 crore by a fresh issue. The issue proceeds of nearly ₹552.53 crore are to be utilized primarily for lease rents and a deposit for its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd, with the remainder earmarked for general corporate purposes.

Shree Ram Twistex and Lamtuf Also Cleared

Shree Ram Twistex, a Gujarat-based spun cotton yarn maker, intends to issue 1.06 crore shares for a 6.1 MW solar plant, a 4.2 MW renewable energy plant, redemption of debentures, and working capital expenditure requirements. Lamtuf, a laminating industrial unit, will issue a combination offering of 1 crore fresh shares and an OFS of 20 lakh shares. The issue proceeds are contemplated for expanding its Telangana unit, covering its working capital requirement, and for general corporate purposes.

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