Lenskart IPO 2025: Complete Review
Lenskart Solutions Limited, the omnichannel eyewear giant, is set to make one of the biggest public offers of 2025. With deep-pocketed global backers, surging revenues, and aggressive expansion plans, the Lenskart IPO is generating major buzz among investors seeking the next consumer-tech blockbuster. Here’s everything you need to know before you hit subscribe.
Company Overview
Founded in 2008 by Peyush Bansal, Lenskart began as an online eyewear retailer and evolved into a full-stack omnichannel powerhouse. The company designs, manufactures, and retails prescription glasses, sunglasses, contact lenses, and accessories. Over 2,500 Lenskart stores span India, the Middle East, and Southeast Asia, making it the largest organized eyewear player in the region. Lenskart is renowned for affordable products, advanced lens technology, AI-powered fitting tools, and a strong digital footprint. Major investors include SoftBank, Temasek, Alpha Wave, Kedaara Capital, and billionaire Radhakishan Damani. The company’s vertically integrated business model allows it to maintain healthy margins and offer frequent discounts to customers.
IPO Issue Size & Structure
The Lenskart IPO aims to raise approximately ₹7,278 crore.
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- Fresh Issue: ₹2,150 crore (new equity shares)
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- Offer for Sale (OFS): 12.76 crore shares (by promoters and major institutional investors) totaling around ₹5,128 crore
Promoters selling shares include Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi. Among the major investor sellers: SoftBank Vision Fund II, Temasek’s Macritchie Investments, Schroders Capital, Kedaara Capital, and Alpha Wave Ventures.
Price Band, Lot Size, and Face Value
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- Price Band: ₹382–₹402 per equity share (Face value: ₹2 each)
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- Employee Discount: ₹19 per share for eligible Lenskart employees
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- Lot Size: 37 equity shares per lot
At the upper band, the implied valuation stands at about ₹72,700 crore ($7.91 billion).
Lenskart IPO Key Dates
| Event | Date |
|---|---|
| IPO Open | 31 October 2025 |
| IPO Close | 4 November 2025 |
| Allotment Date | 6 November 2025 |
| Listing Date | 10 November 2025 |
| Registrar | Link Intime India Pvt Ltd |
Minimum 75% of the net offer is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors.
Grey Market Premium (GMP)
Lenskart’s IPO is commanding a strong GMP in the pre-listing market – ranging from ₹70–80 per share as of October 27, 2025. This points to an expected listing price around ₹475–480 (approx. 19% gain over the upper price band).
Objects of the Issue
The funds raised will be used to:
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- Expand company-owned stores (CoCo model) in India and overseas
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- Invest in cloud technology and digital infrastructure
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- Cover lease and rental obligations for stores
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- Boost brand marketing and customer outreach
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- Fund potential acquisitions to strengthen market position.
Lenskart Solutions Financials (Mobile-Optimized Table)
Here is a summary of major financial figures from recent years (values in ₹ Crore):
| Year | Revenue | EBITDA | Net Profit/Loss |
|---|---|---|---|
| FY23 | 5,425 | 788 | (17.2) |
| FY24 | 6,625 | 1,019 | (10.0) |
| FY25 | 7,867 | 1,405 | 297 |
FY25 shows a remarkable turnaround to profit from the prior year’s losses, driven by strong cost controls and higher operating margins. Revenue jumped over 22% year-on-year[1][3].
Broker Recommendations
Broker sentiment for Lenskart IPO is positive, with most recommending it based on solid growth prospects, strong brand recall, and robust financial turnaround:
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- Angel One: Subscribe for robust fundamentals, strong global investor participation, industry-leading growth, and positive listing GMP signal.
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- Motilal Oswal: Subscribe with a long-term view, citing rapid expansion, recurring E-commerce demand, and sustainable profit margins.
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- Upstox: Suggests subscribe, given Lenskart’s brand leadership, disruptive technology, and sector tailwinds.
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- ICICI Direct: Positive on the company’s fiscal improvement and aggressive expansion strategy.
Tip: Always read final research reports and review upside risk before applying.
Investment Pros & Cons
Major Strengths
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- Largest organized retailer in India’s eyewear market.
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- Excellent CAGR in revenue, pivot to sustained profitability.
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- Strong brand equity, omnichannel distribution, and digital-first approach.
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- Backed by high-profile global investors.
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- Positive market sentiment and GMP.
Risk Factors
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- Intense competition from online and offline players.
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- Consumer discretionary spending cycles.
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- Reliance on expansion and technology spend.
How to Apply (Summary)
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- Apply through any broker platform supporting BSE/NSE IPOs.
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- Minimum lot size: 37 shares.
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- Anchor investor allocation precedes public subscription.
Conclusion
Lenskart IPO 2025 stands out as a headline opportunity combining consumer-tech potential, rapid financial improvement, and major investor interest. With a compelling business model, strong GMP, and enthusiastic broker views, it’s drawing attention from both retail and institutional segments.
Before investing, evaluate personal financial goals, read the latest research, and consider risks alongside the stellar upside.
All information as of October 27, 2025. For updated GMP, dates, or financials, check with your broker closer to listing.
