Lenskart has also gained market share in the region because its prices are about a tenth lower than other brands on average.
Newly listed Lenskart Solutions Ltd posted a nearly 20 percent year-on-year rise in net profit to Rs 103.5 crore in Q2 FY26, compared to Rs 86.3 crore a year earlier. Sequentially, profit was also sharply higher than the Rs 61.2 crore reported in the previous quarter.
The eyewear retailer says rising first-time diagnoses, deeper penetration and higher purchase frequency will push India to 389 million annual pairs sold by FY30.
Total expenses for the Gurugram-based firm increased 18 percent to Rs 1,980.3 crore in the quarter ended September, up from Rs 1,671 crore a year ago and Rs 1,836.6 crore a quarter ago.
Jefferies sees strong upside for Lenskart driven by its tech-led model, rising organised penetration, and robust growth outlook, projecting 23 percent gains with further potential in a bull case.
The company will bring the sunglasses to its online channels and select offline stores in addition to John Jacobs, its premium lifestyle eyewear collection, and Owndays, a Japanese optical brand that it acquired a few years ago
Lenskart IPO share market debut was lower than the expectations in the grey market, which had expected a premium listing of about 2%.
On the NSE, Lenskart Solutions Ltd shares opened at Rs 395 apiece, 1.74% below the upper price band of Rs 402 per share.
On the eve of Lenskart’s listing, founder and CEO Bansal, in a letter, reflects on the company’s 15-year journey from a Delhi startup to a global eyewear brand
Screwvala also told Moneycontrol the valuations that other listed internet companies like Zomato (Eternal), Nykaa and PB Fintech, and others are stating are "way off".
Lenskart is entering the smart wearables market with its upcoming AI Camera Smartglasses, B by Lenskart, launching in December 2025. Powered by Qualcomm’s Snapdragon AR1 Gen 1 chipset and featuring a Sony camera, the glasses will include an AI assistant for hands-free UPI payments, live translation, and more.
Lenskart shares will be listed on both NSE and BSE on November 10, following a 28 times subscription to its Rs 7,278-crore issue.
Mithun Sacheti said he has made around 140 investments before the CaratLane exit and around 20 afterwards, though the cheque sizes have grown since. Sacheti added that he is a big fan of Groww.
The IPO-bound eyewear brand will let apps like Zomato, Swiggy and BookMyShow, along with indie developers, integrate AI and camera-led features ahead of its December 2025 launch.
Lenskart IPO shares will make its debut on the stock exchanges on November 10, while the allotment is expected by November 6.
So far, Peak XV Partners is expected to gain over Rs 2,400 crore from Pine Labs and Groww, while Accel and Elevation together stand to gain over Rs 950 crore through Urban Company and Bluestone. The gains are expected to grow as Meesho, Amagi and others go public later this year.
DSP Asset Managers Pvt. over the weekend publicly defended its anchor investment in Lenskart after facing social media criticism over the IPO’s valuation
Lenskart’s shares were quoting with a grey market premium of 18% over the IPO price, as the Rs 7,278-crore issue opened for subscription.
India’s largest organised eyewear retailer has built a compelling omni-channel model and is well-positioned to benefit from market formalisation
The thing is that markets are a fascinating study in comparative degrees of lunacy. If you sell irrationality first, then resetting and selling rationality later is a piece of cake.
Lenskart IPO shares are expected to be allotted on November 6, while the listing is scheduled to take place on November 10.
The move follows RK Damani’s Rs 90-crore pre-IPO investment; Moneycontrol was the first to report on SBI MF’s planned investment earlier this month.
While he has not decided if he will publish a book, and a name for it yet, Bansal said when he begins to work on the idea, he would title it “Vision for Billion”.
Lenskart acquired Owndays in Japan and Stellio in Spain to grow its international presence. The Middle East and regions like Singapore are key to the company’s next phase of growth, says the CEO
Even if it is Rs 5,000 crore, we can give vision to 50 percent of India and that is a sizable impact to create and so our job is not changing because of that, Peyush Bansal, CEO and co-founder, Lenskart, told Moneycontrol in an interview.