Lenskart, the eyewear giant, is set for its long-anticipated market debut, with its Rs. 7,278 crore IPO opening for subscription on Friday, October 31, 2025, and closing on Tuesday, November 4, 2025. Backed by SoftBank, Temasek, and Radhakishan Damani.
The IPO includes a fresh issue of shares worth Rs. 2,150 crore and an offer for sale (OFS) of 12.75 crore shares, aggregating to Rs. 5,128 crore at the upper price band.
The price band has been fixed between Rs. 382 and Rs. 402 per share of face value Rs. 2, with a lot size of 37 shares. Retail investors can apply for a minimum of one lot for Rs. 14,874.
The anchor investor allocation will open on October 30, a day before the issue. Shares are proposed to be listed on both the NSE and BSE, tentatively on November 10, 2025.
The Red Herring Prospectus (RHP) stated the company has set nearly 75% of the offer for Qualified Institutional Buyers (QIBs), while 15% and 10% will go to Non-Institutional Investors (NIIs) and retail investors. Additionally, an allowance of Rs. 19 per share will be granted to eligible employees as a discount.
The issue is being managed by Kotak Mahindra Capital, Morgan Stanley India, Axis Capital, Avendus Capital, Citi Global Markets India, and Intensive Fiscal Services, while MUFG Intime India is the registrar.
Lenskart plans to use proceeds from the fresh issue toward several growth initiatives. This includes Rs. 272.6 crore for setting up new company-owned (CoCo) stores, Rs. 591.4 crore toward lease and rental payments, Rs. 213.3 crore for technology and cloud infrastructure, and Rs. 320 crore for brand promotion and marketing activities.
In FY25, Lenskart recorded Rs. 6,652.5 crore in revenue, up 22.6% YoY, with a net profit of Rs. 297 crore, a major turnaround from a Rs. 10 crore loss in FY24. Its EBITDA margin improved to 14.6% from 12.4% a year earlier.
For the quarter that ended in June 2025 (Q1FY26), revenue increased by 24.6% YoY to Rs. 1,894.45 crore, with a net profit of Rs. 61.17 crore, indicating continued momentum.
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Analysts are positive about the long-term prospects of Lenskart, as the eyewear market in India is growing due to increased urbanization, screen time, and a rising awareness of vision care.
At a potential valuation of Rs. 70,000 crore, Lenskart's IPO could become the fourth-largest public issue of 2025, following Tata Capital and HDB Financial. Market experts anticipate strong support from institutional participants, potentially placing Lenskart as a benchmark for future consumer tech listings in India.