Lenskart Solutions is set to open its initial public offering on 31 October 2025 and close on 4 November 2025. The price band is ₹382–₹402 per share with a total issue size of about ₹7,278 crore. The listing is slated for 10 November 2025. Retail lot size is 37 shares. Anchor bidding opens 30 October.
Lenskart Solutions IPO Details
| Anchor Bidding Date |
30-Oct-25 |
| Public Bidding Window |
31 October – 4 November 2025 |
| Price Band |
₹382 – ₹402 per share |
| Fresh Issue Size |
₹2,150 crore |
| Offer for Sale (OFS) |
Up to 12.7–12.75 crore shares |
| Total Issue Size |
₹7,278 crore |
| Tentative Listing Date |
10-Nov-25 |
Financials
| FY24 Revenue |
₹5,430 crore (near break-even) |
| FY25 Revenue |
₹6,625 crore |
| FY25 Net Profit |
₹297 crore |
| Q1 FY26 Net Profit |
₹62 crore |
The structure combines a fresh issue of ₹2,150 crore and an offer for sale (OFS) of up to 12.7–12.75 crore shares by existing holders. At the top end of the band, the OFS is roughly ₹5,128 crore. The company says proceeds from the fresh issue will fund network expansion, tech and cloud infrastructure, and general corporate purposes.
Scale and footprint are material. Founded in 2010 as an online retailer, Lenskart entered offline retail in 2013 and now operates about 2,067 stores in India and 656 overseas across Southeast Asia and the Middle East. This omnichannel build-out puts it as the largest organised eyewear player in India by store count.
Financial trajectory shows acceleration into FY25. After reporting revenue of roughly ₹5,428–₹5,427 crore in FY24 with a near break-even net loss of about ₹10 crore, Lenskart moved to a reported FY25 net profit of ~₹297 crore with revenue up ~22% to ₹6,625 crore, per media summaries of company filings. The red herring prospectus also notes a Q1 FY26 profit of ₹62 crore, indicating momentum into the current year. In March 2023 ADIA invested $500 million, valuing the firm around $4.5 billion. In June 2024 Temasek and Fidelity led a $200 million secondary at about $5 billion. Recent reports around the IPO reference a potential $6.1–$8 billion valuation range as the book builds.
Ownership is diversified across global funds. Publicly reported investors include SoftBank Vision Fund, ADIA, Temasek, Fidelity, ChrysCapital, KKR, TPG Growth and others. The OFS includes sales by promoters and existing shareholders; media reports say founder Peyush Bansal will sell a small portion (about 1.2% of the company), alongside institutional holders.
Unit economics and channel mix are central to the file. The Lenskart product sales formed over 95% of FY24 operating revenue, which grew about 43% year-on-year; services and other operating income make up the balance. The company emphasises an integrated supply chain from in-house design to omni-distribution, with lens edging and last-mile fitment centred in its retail network.
Category tailwinds are well documented. The organised eyewear market in India remains under-penetrated relative to need-based demand from myopia and presbyopia, as well as lifestyle and sunglasses segments. Lenskart’s RHP and regulator-approved notes point to double-digit industry growth supported by rising diagnosis rates, urbanisation and higher discretionary spending.
IPO use-of-proceeds lines up with that backdrop. The company plans to add company-owned outlets in India and overseas, strengthen technology stacks including cloud infrastructure, and allocate funds for general corporate needs. Given the omnichannel strategy, capex will likely skew to store rollouts, inventory, and back-end automation referenced in offer documents.
Issue mechanics to note. Merchant bankers include Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital and Intensive Fiscal, per recent coverage. Grey-market chatter has reported a positive premium ahead of opening, though such indications are unofficial and volatile.
Near-term operating print provides additional context. The company reported a profit in Q1 FY26 of ₹62 crore, versus a loss in the year-ago quarter, as disclosed in IPO documents. That follows FY25 profitability recovery from FY24’s near break-even. The sequence suggests improved store productivity and scale effects heading into the offer period.
Some if the risks associated with the company include dependence on continued store expansion for growth, execution complexity across geographies, competitive intensity from regional optical chains and online platforms, and exposure to currency and import dynamics given lens and frame components. Any slowdown in discretionary spending or delays in retail fit-outs can affect throughput.
Major investors:
SoftBank Vision Fund, ADIA, Temasek, Fidelity, others. Stated use of proceeds: expansion, tech and cloud, general corporate.
This summary is limited to facts in public sources and the red herring prospectus coverage available before the offer opens.