Lenskart Solutions IPO

Lenskart Solutions IPO is a bookbuilt issue of ₹7,278.02 crore. It combines a fresh issue of 5.35 crore shares aggregating to ₹2,150.00 crore and an offer for sale of 12.76 crore shares aggregating to ₹5,128.02 crore.

The IPO opens for subscription on October 31, 2025, and closes on November 4, 2025. The allotment is expected to be finalized on Thursday, November 6, 2025. The price band for the IPO is set at ₹380 to ₹402 per share, and the minimum lot size for an application is 37 shares. 

Company Summary

Lenskart Solutions Ltd., established in 2008, is a technology-focused eyewear company involved in the design, manufacturing, branding, and retail of prescription eyeglasses, sunglasses, contact lenses, and accessories. India serves as its primary market, and as per the Redseer Report, the company recorded the highest volume of prescription eyeglasses sold in India during FY 2025.

Operating under a direct-to-consumer model, the company offers a broad range of eyewear under its own brands and sub-brands, catering to all age groups and price segments. In FY 2025, 105 new collections were launched, including collaborations with well-known brands and personalities.

As of March 31, 2025, Lenskart operated 2,723 stores globally, 2,067 in India and 656 overseas, with 1,757 owned and 310 franchised stores in India. Remote eye testing is offered through 136 optometrists at 168 stores across India and select international locations, including Japan and Thailand.

Manufacturing is centralized in Bhiwadi and Gurugram, supported by regional facilities in Singapore and the UAE. This setup enables next-day delivery in 40 Indian cities and 3-day delivery in 69 cities for single-vision prescription eyewear.

The company posted revenues of ₹37,880.28 million, ₹54,277.03 million, and ₹66,525.17 million in FY 2023, 2024, and 2025, respectively, showing consistent year-on-year growth. Its apps have over 100 million cumulative downloads, with a tech team of 532 members.

Company Strengths

  • Centralized supply chain and in-house manufacturing
  • In-house frame and lens engineering
  • Direct-to-consumer approach
  • Customer-centric product design
  • Owned eyewear brand portfolio
  • Technology-led operations and retail experience
  • Omnichannel retail presence
  • Multi-year revenue and EBITDA growth trajectory

Company Financials

Period Ended30 Jun 202531 Mar 202531 Mar 202431 Mar 2023
Assets10,845.6810,471.029,531.029,528.28
Total Income1,946.17,009.285,609.873,927.97
Profit After Tax61.17297.34-10.15-63.79
EBITDA336.63971.06672.09259.71
Net Worth6,176.876,108.35,642.385,444.48
Reserves and Surplus5,855.435,7955,466.55,411.96
Total Borrowing335.48345.94497.15917.21
                                                                                                                                                                                                           Amount in ₹ Crore

Objectives of IPO

  • Capital expenditure towards the set-up of new CoCo stores in India
  • Expenditure for lease/rent/license agreements related payments for our CoCo stores operated by the Company, in India
  • Investing in technology and cloud infrastructure
  • Brand marketing and business promotion expenses for enhancing brand awareness
  • Unidentified inorganic acquisitions and general corporate purposes

Promoters of the company

Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi are the company promoters.

IPO Details

IPO DateOctober 31, 2025 to November 4, 2025
Listing DateNovember 10, 2025
Face Value₹2 per share
Price Band₹382 to ₹1402 per share
Lot size37 shares
Total Issue size18,10,45,160 shares (aggregating upto ₹7,278.02 Cr )
Fresh Issue5,34,82,587 shares (aggregating upto ₹2,150.00 Cr )
Offer for Sale12,75,62,573 shares of ₹2 (aggregating upto ₹5,128.02 Cr )
Issue typeBookbuilding IPO
Listing atNSE, BSE
Share Holding Pre Issue1,68,10,15,590 shares
Share Holding Post Issue1,73,44,98,177 shares

Category Reservation Table

Application CategoryMaximum Bidding LimitsBidding at Cut-off Price Allowed
Only RIIUpto Rs 2 LakhsYes
Only sNIIRs 2 Lakhs to Rs 10 LakhsNo
Only bNIIRs 10 Lakhs to NII Reservation PortionNo
Only employeeUpto Rs 2 lakhsYes
Employee + RII/NII1. Employee limit: Upto Rs 2 lakhs (In certain cases, employees are given a discount if the bidding amount is upto Rs 2 Lakhs) 2. If applying as RII: Upto Rs 2 Lakhs 3. If applying as NII: sNII > Rs 2 Lakhs and upto Rs 10 Lakhs, and bNII > Rs 10 lakhsYes for Employee and RII/NII

Lot Allocation Details

ApplicationLotsSharesAmount
Retail (Min)137₹14,874.00
Retail (Max)13481₹1,93,362.00
S-HNI (Min)14518₹2,08,236.00
S-HNI (Max)672,479₹9,96,558.00
B-HNI (Min)682,516₹10,11,432.00

Allotment Schedule

Basis of AllotmentThu, 6 Nov, 2025
Initiation of RefundsFri, 7 Nov, 2025
Credit of Shares to DematFri, 7 Nov, 2025
Tentative Listing DateMon, 10 Nov, 2025
Cut-off time for UPI mandate confirmation5 PM on November 4, 2025

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot less than 75% of the Net Offer
Retail Shares OfferedNot more than 10% of the Net Offer
NII Shares OfferedNot more than 15% of the Net Offer

Source – SEBI, Chittorgarh

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