😎 Lenskart eyes Rs 8,000 Cr IPO

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30 July 2025 View in Browser

Hello,   It’s a sad end for a once-promising startup.   BluSmart has reportedly entered insolvency proceedings amidst mounting corporate governance troubles at the company.    This comes months after the troubled EV ride-hailing company had halted cab bookings on its app and begun transitioning its vehicles onto other platforms. A SEBI probe had earlier accused a company co-founder of misappropriating funds intended to purchase EVs.   ICYMI: An X user recently shared a video of BluSmart’s fleet of Tata Tigor EVs eating dust in a Delhi basement.   Meanwhile, Maharashtra has taken matters into its own hands when it comes to urban mobility. The state government is set to introduce its own mobile app-based passenger transport service for taxis, auto-rickshaws, and bike taxis to “create an alternative to the monopoly of private companies”.   In other news, smartphones have become a true Make in India success story.   India has overtaken China to become the top exporter of smartphones to the US, according to research firm Canalys. Smartphones assembled in India accounted for 44% of US imports of those devices in Q2 2025—a 13% annual increase.    This was largely driven by Apple’s accelerated supply chain shift to India amid an uncertain trade landscape between the US and China.   Every opportunity counts.   In today’s newsletter, we will talk about  Lenskart eyes Rs 8,000 Cr IPO Swiggy delivers annual report card AI for the oil and gas industry Here’s your trivia for today: What was the name of the first privately funded spacecraft to reach orbit?

Ecommerce Lenskart eyes Rs 8,000 Cr IPOOmnichannel eyewear retailer Lenskart has filed its DRHP with SEBI for an IPO comprising a fresh issue of shares worth Rs 2,150 crore and an offer for sale of up to 132.29 million shares. It is reportedly looking to raise Rs 8,000 crore in the entire issue.   The Peyush Bansal-led firm also turned profitable, clocking a profit of Rs 297.3 crore in FY25. It posted a 22% growth in revenue from operations at Rs 6,652 crore, up from Rs 5,427 crore in FY24.    All the details: Co-founder and CEO Peyush Bansal will sell up to 20.5 million equity shares, acquired at an average cost of Rs 18.60 per share. Co-founder Neha Bansal, also a promoter, plans to offload up to 5.7 million shares at Rs 7.60 apiece. Among institutional investors, SoftBank will sell up to 25.5 million shares, purchased at an average price of Rs 74.26, while Schroders Capital will offload up to 19.1 million shares at Rs 40.90 per share. Lenskart will also acquire an 80% stake in Spain-based Stellio Ventures SL, the company behind the Meller sunglasses brand, for Rs 406 crore. The deal involves Lenskart purchasing 32,226 shares of Stellio, representing 80% of its fully diluted share capital. Know More

Funding Alert Sharpsell.ai: Rs 30 Cr | Series A Zepto: Rs 7.5 Cr | Undisclosed Passprt: $500,000 | Pre-Seed

Foodtech Swiggy delivers annual report card Swiggy is shifting its strategy after years of rapid growth. The food and grocery delivery platform will enter FY26 focused on improving operational efficiency and moving its newer businesses toward profitability, marking a sharp departure from the infrastructure-heavy playbook that defined its last two years.    The company reported a 30% reduction in its consolidated adjusted EBITDA loss, which narrowed to Rs 1,911 crore in FY25. Swiggy’s adjusted revenue rose 46% to Rs 9,028 crore, buoyed by gains in food delivery and a surge in order volume from Instamart.   Key takeaways: Instamart remained one of Swiggy’s fastest-growing businesses, with GOV climbing 82% to Rs 14,683 crore and adjusted revenue more than doubling to Rs 3,811 crore. Order volumes reached 285 million.  Swiggy said the era of aggressive expansion is over. “FY26 will mark the start of the shift from infrastructure investment to infrastructure leverage in quick commerce,” it said, signalling its intent to focus on utilisation, not just growth. A key part of that strategy involves Megapods—large-format dark stores that carry up to 50,000 SKUs and are optimised for automation. Though they require higher upfront investment, these hubs now serve 20% of Instamart’s orders despite making up only 10% of its store footprint. Know More

Startup AI for the oil and gas industryIn the oil and gas sector, companies still rely on outdated systems and Excel sheets, slowing down operations, compromising safety, hindering speed, and decision-making. Gurugram-based deeptech startup Oges is changing that with AI-powered solutions. Built for the oil fields, Oges’ technology empowers firms to find new reserves, fix workflows, and build smart apps. Know More

From the CapTable Can SuperYou muscle its way into your snacking habits? Walk into any supermarket and you will see the healthy snacking section. Chances are that you will find grim packets with gym bodies on them, powders that taste like chalk, and bars that look and feel like cardboard. It’s almost as if fitness and pleasure don’t mix.  Nikunj Biyani found this distasteful. He had a simple thought: What if protein didn’t have to announce itself? What if it just sat quietly next to your favourite Lays packet or peanut chikkis? That idea became SuperYou in November last year. Instead of chasing the usual suspects—gym rats and fitness influencers—Biyani decided to chase everyday people. The office worker grabbing evening snacks, the college kid buying chips during break, the family stocking up at the local store. “People are going to consume what they want to—when they snack, they want taste,” says Biyani, whose uncle Kishore Biyani built the Future Group empire. “The idea was to see if we could convert the products they already eat into the ones that also have some protein.” Eight months later, SuperYou has sold more than 8 million wafers and roughly 1 million units of chips. The wafers cost Rs 60 each, while the newer protein chips retail at Rs 50, promising 10 grams of protein with no added sugar or palm oil. Bollywood star Ranveer Singh co-founded the venture and appears on every packet. But here’s the thing about quick success in Indian business—it can fool you. What you need to keep in mind is that entrepreneurship is not a 20-20 game but a Test match that demands consistency and endurance. Continue Reading

Bharat ke Innovators

Building reusable space capsule BlueWay Horizon is pioneering reusable re-entry capsules to make microgravity research accessible for Indian scientists. Its flagship product, HORIZON-I, enables rapid orbital experimentation with safe and precise return. Know More     Nurturing startups from Bharat MAGIC—the Marathwada Accelerator for Growth and Incubation Council—is India's first regional industry-led incubator, purpose-built to unlock the entrepreneurial potential of Tier II-III cities and semi-rural belts. Know More

News & Updates

Forecast: The International Monetary Fund on Tuesday slightly upgraded its 2025 and 2026 economic growth forecasts for India, citing a more favourable global economic situation. The IMF revised its growth forecast for India to 6.4% for both 2025 and 2026, up from the 6.2% it had projected in April. Regulations: The RBI capped lenders’ collective investments in AIFs at 20% of the funds’ corpus. Lenders will need to make 100% provisions on investments in alternative investment funds that have exposure to the lenders’ borrowers, according to the rules, which will kick in from January 1, 2026. AI deal: Microsoft is reportedly in talks with OpenAI for a new agreement that would give it ongoing access to the startup’s technology even if OpenAI achieves what it defines as advanced general intelligence. If the deal goes through, it would clear a key hurdle in OpenAI’s transition toward becoming a fully commercial enterprise.

Here's what else we have for you

Razorpay joins the ranks of the world’s top fintech innovators for 2025 In Partnership with Razorpay   As one of just 13 Indian companies to make it to the prestigious 2025 edition of the World’s Top Fintech Companies list, Razorpay’s recognition is a powerful validation of its innovation, scale, and impact in India’s fast-evolving fintech landscape.   Featured in the Payments category, Razorpay processes over $180 billion in annualized TPV and is trusted by 105 of India’s 119 unicorns. The end-to-end payment and business banking platform has ambitious plans to power $900 billion of India’s digital payments market by 2030. This is not only a milestone for Razorpay but also a signal of how far India’s fintech ecosystem has come, and how it is now shaping the global narrative.  Know More From Back Office to Global Workforce: How Magic Billion Is Helping Indian Youth Find Its Voice In Partnership with Magic Billion   “India’s demographic dividend can become the world’s workforce engine — if we get this right,” says Aditi Banerjee, Co-founder of Magic Billion (India) and IndiaWorks (Germany). Learn how this incredible organisation is preparing Indians to leapfrog into the international careers of their dreams.  Know More

Did you know?

What was the name of the first privately funded spacecraft to reach orbit? Answer: SpaceShipOne.

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