Eyewear major Lenskart is gearing up for its much-awaited Rs 7,278 crore initial public offering (IPO), which will open for subscription on Friday, October 31.
The offering comes amid the Diwali season, adding a festive sparkle to the market as retail and institutional investors look to get a piece of the country’s leading eyewear brand.
The IPO consists of a fresh issue of 53.5 million equity shares worth Rs 2,150 crore and an offer for sale (OFS) of 127.6 million shares, amounting to Rs 5,128.02 crore.
Promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will be among those selling part of their holdings, alongside key investors such as SVF II Lightbulb (Cayman), Schroders Capital Private Equity Asia Mauritius, PI Opportunities Fund-II, MacRitchie Investments, Kedaara Capital Fund II, and Alpha Wave Ventures.
Notably, a discount of Rs 19 per share has been offered to eligible employees. The company has allocated not less than 75 per cent of the shares to qualified institutional buyers (QIBs), up to 15 per cent for non-institutional investors (NIIs), and 10 per cent for retail investors.
Lenskart IPO Price Band, Lot Size And Dates
Lenskart has fixed the price band between Rs 382 and Rs 402 per equity share, with a lot size of 37 shares. Retail investors can apply for a minimum of one lot, requiring an investment of Rs 14,874 at the upper band, and in multiples thereafter.
The three-day subscription window will close on Tuesday, November 4. The basis of share allotment is expected to be finalised on Thursday, November 6, with Lenskart shares likely to debut on both the BSE and NSE on Monday, November 10.
MUFG Intime India has been appointed as the registrar for the issue, while Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are serving as the book-running lead managers.
Where Will The Funds Be Used?
According to the red herring prospectus (RHP), Lenskart plans to utilise Rs 272.62 crore from the proceeds for capital expenditure on new company-owned company-operated (CoCo) stores across India, and Rs 591.44 crore for lease, rent, and related expenses for these stores.
Another Rs 213.38 crore will go towards investments in technology and cloud infrastructure, while Rs 320.06 crore will be used for brand marketing and business promotion activities to strengthen brand recall and market presence. The remainder will be allocated for inorganic acquisitions and general corporate purposes.
Strong Financial Performance
Lenskart’s financial performance has seen remarkable improvement over the past year. For the quarter ended June 30, 2025 (Q1FY26), revenue from operations stood at Rs 1,894.45 crore, up 24.6 per cent from Rs 1,520.42 crore a year earlier. Profit after tax was Rs 61.17 crore, compared to a loss of Rs 10.9 crore in the same quarter of the previous fiscal.
For the full fiscal year 2024–25 (FY25), the company reported a revenue of Rs 6,652.5 crore, marking a 22.6 per cent increase from Rs 5,427 crore in FY24. Net profit surged to Rs 297.3 crore from Rs 10.15 crore, while EBITDA rose to Rs 971.05 crore from Rs 672.09 crore. EBITDA margins also improved to 14.6 per cent from 12.38 per cent.
