Lenskart IPO to hit Dalal Street on Oct 31, total offer size estimated at Rs 7,278 crore

Lenskart Solutions IPO News

Eyewear products maker Lenskart Solutions, which is backed by marquee global investors - Softbank, ADIA, Temasek, and Kedaara Capital, is set to open its maiden public issue next week on October 31 with an expected IPO size of around Rs 7,278 crore at a valuation of Rs 72,719 crore.

The IPO (initial public offering) anchor book will be launched for a day on October 30, while the public subscription will remain open till November 4, as per the RHP (Red Herring Prospectus) filed on October 25.

The company will finalise IPO share allotment by November 6, while the trading in Lenskart shares will commence on the BSE and NSE effective November 10.

Moneycontrol was the first to report on October 26 that Lenskart plans to launch the issue for public subscription on October 31.

Lenskart Solutions, which claims to be the largest seller of prescription eyeglasses in terms of volumes among organised retailers, will raise Rs 2,150 crore via fresh shares, while promoters and investors will be offloading 12.75 crore equity shares via offer-for-sale.

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Along with founders and promoters (Peyush Bansal, Neha Bansal, Amit Chaudhary, Sumeet Kapahi), investors like SoftBank's SVF II Lightbulb (Cayman), Schroders Capital, PI Opportunities Fund, MacRitchie Investments, Kedaara Capital Fund, and Alpha Wave will also be selling shareholders in the offer-for-sale.

Amongst these investors, Schroders Capital Private Equity Asia Mauritius will be exiting Lenskart by selling the entire 1.9 crore shares (1.13 percent stake) in the IPO.

The company's total offer-for-sale size has been reduced by 47.26 lakh shares to 12.75 crore, from 13.22 crore shares planned at the time of filing DRHP, as founder Neha Bansal cut down its OFS size by 47.26 lakh shares.

Lenskart's IPO size could be around Rs 7,278.01 crore on an expected valuation of Rs 72,719.26 crore if the issue price gets announced at Rs 402 per share, at which Radhakishan Damani recently bought 0.13 percent of pre-offer paid-up equity stake in the company.

Shrikanta R Damani, the wife of DMart founder Radhakishan Damani, has acquired 22,38,806 equity shares (0.13 percent stake) in Lenskart at Rs 402 per share on October 23, 2025, from promoter Neha Bansal, which is valued at Rs 90 crore.

Promoters' shareholding in the Gurugram-based company stands at 19.85 percent at the time of filing of RHP, while public shareholders hold 79.72 percent stake, and the remaining 0.43 percent shares are owned by employee trusts.

The firm has reserved Rs 15 crore worth of shares of its IPO for its employees. Up to 75 percent of the net offer size (excluding employee portion) has been reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remainder 10 percent shares for retail investors.

The technology-driven eyewear company will spend Rs 272.6 crore of fresh issue proceeds for setting up new CoCo stores in India and Rs 591.4 crore for lease/rent/license agreements-related payments for CoCo stores.

Further, Rs 213.4 crore will be utilised for investing in technology and cloud infrastructure, Rs 320 crore for brand marketing and business promotion expenses, and the remaining fresh issue funds for unidentified inorganic acquisitions and general corporate purposes.

Along with India being Lenskart's largest market, the firm has also expanded into select international markets, including Japan, Southeast Asia, and the Middle East. In the organised sector, it competes with eyewear retailers like Titan Company (eyecare division), Eyegear Optics India, Gangar Opticians, GKB Opticals, Lawrence and Mayo (India), and Specsmakers Opticians.

On the financial front, Lenskart Solutions has turned the corner in the year ended March 2025 with a profit of Rs 297.3 crore against a loss of Rs 10.1 crore in the previous fiscal 2024. Revenue during the same period increased 22.6 percent to Rs 6,652.5 crore, up from Rs 5,427.7 crore.

Profit in the quarter June 2025 stood at Rs 61.2 crore against a loss of Rs 11 crore in the corresponding period of the last fiscal. Revenue in the same period soared 24.6 percent to Rs 1,894.5 crore, increasing from Rs 1,520.4 crore.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are acting as the book-running lead managers for the Lenskart Solutions IPO.