New Delhi, Oct. 6 -- PremjiInvest, SoftBank-backed eyewear retailer Lenskart, Peak XV Partners and Verlinvest-backed mattress brand Wakefit, as well as Apollo-backed automotive components original equipment manufacturer Tenneco Clean Air, have received approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs).

Lenskart, which filed its draft papers with SEBI in July, is looking to raise Rs 2,150 crore (around $242.3 million) through a fresh issue of shares, while its promoters and 13 investors will offer nearly 132.3 million shares for sale.

The public listing could yield strong returns for Lenskart's private market investors, including homegrown PE firms PremjiInvest and Kedaara Capital, Japanese technology investment major SoftBank, and Singapore state investment firm Temasek.

Founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi, Lenskart sells eyewear across India, Southeast Asia, and the Middle East through its stores and website.

Meanwhile, Wakefit Innovations, a Bengaluru-based home and sleep solutions brand, plans to raise Rs 468.2 crore through a fresh issue of shares, with an offer for sale (OFS) of up to 5.83 crore shares by existing stakeholders, including promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors such as Peak XV Partners and Verlinvest.

Founded in 2016, Wakefit has evolved from a mattress startup to a comprehensive home solutions provider. It offers products across categories like furniture, home decor, and sleep products.

Proceeds from the IPO will support expansion of offline stores, marketing initiatives, and in-house manufacturing and logistics.

Lastly, Tenneco Clean Air India, a subsidiary of global automotive supplier Tenneco, is looking to raise Rs 3,000 crore through an OFS of up to Rs 3,000 crore by Tenneco Mauritius Holdings Ltd, its promoter entity.

In April 2025, Tenneco secured a strategic investment from Apollo Fund X and American Industrial Partners in its Clean Air and Powertrain businesses to drive growth and strengthen its global positioning. Tenneco's Clean Air division operates 12 manufacturing facilities across seven states and one Union territory in India, producing catalytic converters, diesel particulate filters, mufflers, and exhaust pipes.

Published by HT Digital Content Services with permission from VC Circle.