Lenskart Solutions Ltd IPO Details

Introduction

Lenskart Solutions Ltd., India’s leading eyewear retailer, is launching one of the year’s most awaited IPOs from October 31 to November 4, 2025. Founded in 2008, Lenskart disrupted optical retail with its online-first approach—now boasting 2,000+ stores, a world-class manufacturing unit in Bhiwadi (Rajasthan), and a global footprint spanning India, Southeast Asia, and the Middle East. By seamlessly blending digital and physical experiences, Lenskart aims to make quality vision accessible for millions, with innovation and scale at its core.

IPO Highlights

• Total Issue Size: ₹7,278.02 crore (Fresh Issue: ₹2,150 crore; Offer for Sale: ₹5,128.02 crore)
• Price Band: ₹382–₹402 per share
• Lot Size: 37 shares (minimum investment ₹14,874 at upper band)
• Subscription Window: October 31 – November 4, 2025
• Allotment: November 6, 2025 | Listing: November 10, 2025 (BSE, NSE)
• Employee Discount: ₹19 per share (eligible bids)
• Promoters & Investors: Promoter group (Peyush Bansal & team); investors include SoftBank, Kedaara, Radhakishan Damani, Alpha Wave, Schroders Capital.

Company Financials

Lenskart Solutions Ltd.'s revenue increased by 25% and profit after tax (PAT) rose by 3028% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended	30 Jun 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	10,845.68	10,471.02	9,531.02	9,528.28
Total Income	1,946.10	7,009.28	5,609.87	3,927.97
Profit After Tax	61.17	297.34	-10.15	-63.76
EBITDA	336.63	971.06	672.09	259.71
NET Worth	6,176.87	6,108.30	5,642.38	5,444.48
Reserves and Surplus	5,855.43	5,795.00	5,466.50	5,411.96
Total Borrowing	335.48	345.94	497.15	917.21
Amount in ₹ Crore

Objects of the Issue 

The Company Lenskart Solutions IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

S.No.	Objects of the Issue	Expected Amount (₹ in crores)
1	Capital expenditure towards set-up of new CoCo stores in India	272.62
2	Expenditure for lease/rent/license agreements related payments for our CoCo stores operated by the Company, in India	591.44
3	Investing in technology and cloud infrastructure	213.38
4	Brand marketing and business promotion expenses for enhancing brand awareness	320.06
5	Unidentified inorganic acquisitions and general corporate purposes

Key Performance Indicator (KPI):-

KPI	Values
ROCE	13.84%
RoNW	4.84
EBITDA Margin	14.60%
Price to Book Value	11.03

Lenskart Solutions: Brand & Market Story

Lenskart is a vertically integrated omnichannel brand—meaning it designs, manufactures, distributes, and sells prescription glasses, sunglasses, and contact lenses. Its tech-driven platform powers home eye-checkup services, AR-based virtual trials, and mobile-first shopping, alongside brick-and-mortar stores. International expansion (like Owndays in Japan and Malaysia) and contract manufacturing for global brands showcase its India-born engineering prowess.

• Production capacity: 5 crore eyeglass frames/year
• Online & Offline synergy: Website, app, and 2,000+ stores for maximum reach
• Global ambition: Growing presence in Middle East & SE Asia
• Employees: Over 10,000, including optometrists and engineers

Financial & Offer Details

• Market Cap (est. at upper band): ~₹69,700 crore
• Use of IPO funds: Store expansion, tech upgrades, marketing, lease agreements for CoCo (company-owned) stores, and strategic investments
• Pre-IPO Investor Exit: Part of OFS from SoftBank, Kedaara, Schroders, Alpha Wave, and the founding team
• Retail quota: 35% of net offer; QIB 50%; NII 15%

Competitive Strengths

• India’s top omnichannel eyewear brand with deep market penetration
• Vertically integrated with control over design, manufacturing, and retail
• Homegrown and global—major partnerships and international foray
• Strong brand recall and customer acquisition through online, offline, and home services
• Investment in tech, automation, and AR for user experience

Risks

• 70%+ of revenues from India—limited diversification (still expanding overseas)
• High competition from Titan Eyeplus, Vision Express, local and international brands
• Premium valuations—rapid growth priced into IPO
• Large OFS—promoter/investor exit is a bigger share than fresh issue
• The China Factor: A substantial part of their raw materials and frames are imported from China. Any supply chain hiccup, tariff change, or geopolitical tension introduces a real vulnerability.
• The High-Tech Threat: Medical advancements like LASIK and SMILE eye surgeries, which reduce the need for corrective eyewear, are constantly evolving. This may sound futuristic, but it's a long-term demand headwind in the prescription lens market.

How To Apply for the Online?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

FAQs :-

Q: What are the Lenskart IPO dates and price band?
A: October 31–November 4, 2025; ₹382–₹402 per share.

Q: What’s the minimum lot size and investment?
A: 37 shares per lot; minimum investment ₹14,874 (upper band).

Q: Is it a fresh issue or OFS?
A: Both—₹2,150 crore fresh; rest OFS from existing investors/promoters.

Q: How does Lenskart compare with competitors?
A: Biggest Indian brand with strong omni-presence, deep supply chain, and tech-forward customer experience. Rapidly scaling international reach versus pure-play domestic peers.

Q: Where will Lenskart be listed?
A: BSE and NSE; expected on November 10, 2025.

Q: Who founded Lenskart?
A: Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.