New Delhi: Leading omnichannel eyewear retailer Lenskart Solutions Ltd is gearing up to make its public market debut with a massive ₹7,278 crore Initial Public Offering (IPO), set to open for subscription from October 31 to November 4, 2025. The issue, valuing the company at an impressive ₹72,719 crore, marks one of the largest public offerings in India’s retail and lifestyle segment in recent years.
According to the Red Herring Prospectus (RHP) filed with the Securities and Exchange Board of India (SEBI), the anchor book will open on October 30, a day prior to the launch of the public issue. The share allocation is expected to be finalised by November 6, with the stock slated to list on both BSE and NSE on November 10.
The IPO includes a fresh equity issue worth ₹2,150 crore and an offer for sale (OFS) of 127.5 million shares by existing shareholders. The OFS portion was slightly reduced from 132.2 million shares after co-founder Neha Bansal trimmed her share sale.
The selling shareholders include founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with prominent investors such as SoftBank’s SVF II Lightbulb (Cayman), Schroders Capital, PI Opportunities Fund, MacRitchie Investments, Kedaara Capital Fund, and Alpha Wave. Notably, Schroders Capital Private Equity Asia Mauritius will make a complete exit, offloading its entire 190 million shares, representing 1.13% stake.
The issue price is anticipated to be around ₹402 per share, based on a recent pre-IPO transaction in which Shrikanta R Damani, spouse of DMart founder Radhakishan Damani, purchased 2.23 million shares (0.13% stake) from Neha Bansal for ₹90 crore on October 23, 2025.
As per the RHP, the promoters hold 19.85%, public investors own 79.72%, and employee trusts account for 0.43% of the company’s equity. The IPO reserves 75% of shares for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors, excluding a ₹15-crore employee reservation.
Lenskart plans to allocate the fresh proceeds strategically — ₹272.6 crore will go towards opening new company-owned stores, ₹591.4 crore for store lease obligations, ₹213.4 crore to enhance technology infrastructure, and ₹320 crore for marketing and brand initiatives. The remaining funds will support acquisitions and general corporate purposes.
Financially, the eyewear major has shown a robust turnaround. After reporting a ₹10.1-crore loss in FY24, Lenskart swung to a net profit of ₹297.3 crore in FY25, aided by a 22.6% jump in revenue to ₹6,652.5 crore from ₹5,427.7 crore in the previous fiscal. In Q1 FY26, the company posted a profit of ₹61.2 crore, compared to a ₹11 crore loss in the same period last year, while revenue climbed 24.6% to ₹1,894.5 crore.
Beyond India, Lenskart has expanded its footprint across Japan, Southeast Asia, and West Asia, positioning itself as a global eyewear player. Domestically, it faces competition from Titan Eye+, Eyegear Optics, Gangar Opticians, GKB Opticals, Lawrence and Mayo, and Specsmakers Opticians.
The IPO will be managed by a consortium of lead book-runners including Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services.
With its strong financial recovery, global expansion plans, and solid investor backing, Lenskart’s IPO is being closely watched as one of the most anticipated listings of 2025.
