Lenskart’s ₹7,278 Crore IPO Launches on Oct 31

Eyewear retail major Lenskart Solutions, backed by global investors such as SoftBank, ADIA, Temasek, and Kedaara Capital, is set to launch its highly anticipated initial public offering (IPO) on October 31, 2025. The total offer size is estimated at ₹7,278 crore, valuing the company at around ₹72,719 crore, as per its Red Herring Prospectus (RHP) filed on October 25.

IPO Timeline and Listing Details

According to the RHP, the anchor book for institutional investors will open for one day on October 30, followed by the public subscription period from October 31 to November 4. The share allotment is expected to be finalized by November 6, and trading on the BSE and NSE will commence on November 10, 2025.

As first reported by Moneycontrol, this IPO marks Lenskart’s debut on Dalal Street and is expected to be one of the largest public issues in the consumer retail space this year.

IPO Structure and Offer Breakdown

Lenskart’s IPO will include both a fresh issue and an offer-for-sale (OFS) component. The company plans to raise ₹2,150 crore through the issuance of fresh shares, while existing promoters and investors will sell 12.75 crore equity shares via OFS.

Among those offloading shares are founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, alongside marquee investors such as SoftBank’s SVF II Lightbulb (Cayman), Schroders Capital, PI Opportunities Fund, MacRitchie Investments, Kedaara Capital Fund, and Alpha Wave.

Notably, Schroders Capital Private Equity Asia Mauritius will completely exit the company by selling its 1.9 crore shares (1.13% stake). Meanwhile, Neha Bansal has reduced her OFS participation by 47.26 lakh shares, trimming the total OFS size from 13.22 crore to 12.75 crore shares.

Valuation and Recent Stake Sale

Based on an estimated IPO price of ₹402 per share, Lenskart’s total offer size is expected to touch ₹7,278.01 crore with a valuation of around ₹72,719 crore.

Interestingly, Radhakishan Damani, the billionaire founder of DMart, recently acquired a 0.13% pre-IPO stake in Lenskart. His wife, Shrikanta R. Damani, purchased 22.38 lakh shares worth ₹90 crore at ₹402 per share from promoter Neha Bansal on October 23, 2025.

Shareholding Pattern and Allocation

At the time of filing the RHP, promoters held a 19.85% stake, public shareholders owned 79.72%, and employee trusts held the remaining 0.43%.

As per SEBI regulations, Lenskart has reserved ₹15 crore worth of shares for employees. Of the remaining issue, 75% is allocated to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 10% to Retail Investors.

Use of IPO Proceeds

The company plans to utilize the fresh issue proceeds strategically for expansion and technology enhancement. The breakdown of fund allocation includes:

• ₹272.6 crore for setting up new Company-Owned Company-Operated (CoCo) stores in India.

• ₹591.4 crore for lease and rental agreements related to these stores.

• ₹213.4 crore for investments in technology and cloud infrastructure.

• ₹320 crore towards brand marketing and business promotion.

• Remaining funds for inorganic acquisitions and general corporate purposes.

This investment strategy underscores Lenskart’s commitment to scaling its offline presence while strengthening its technology-driven retail operations.

Market Presence and Competition

Lenskart, headquartered in Gurugram, is recognized as the largest seller of prescription eyeglasses by volume among organized eyewear retailers in India. The brand has also expanded internationally across Japan, Southeast Asia, and the Middle East.

In the domestic market, Lenskart faces competition from players like Titan Company (Eyeplus), Eyegear Optics India, GKB Opticals, Lawrence and Mayo, and Specsmakers Opticians.

Strong Financial Performance

On the financial front, Lenskart has demonstrated a remarkable turnaround. For the financial year ending March 2025, the company reported a profit of ₹297.3 crore, compared to a loss of ₹10.1 crore in FY24. Revenue surged 22.6% year-on-year to ₹6,652.5 crore, up from ₹5,427.7 crore in FY24.

In the June 2025 quarter, Lenskart posted a profit of ₹61.2 crore versus a loss of ₹11 crore a year earlier, while revenue climbed 24.6% to ₹1,894.5 crore from ₹1,520.4 crore.

The IPO will be managed by a consortium of lead bankers, including Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services.

Conclusion

Lenskart’s IPO marks a major milestone for India’s retail and consumer technology sector. With strong investor backing, solid profitability, and strategic expansion plans, the company is well-positioned for sustained growth both in India and abroad. The public issue is expected to attract significant interest from retail and institutional investors alike.