India’s leading eyewear brand Lenskart is set to make its much-awaited debut on Dalal Street. Backed by global investors like SoftBank, KKR, and Temasek, Lenskart Solutions Ltd. has officially announced its Initial Public Offering (IPO) — opening on 31 October 2025 and closing on 4 November 2025.
This IPO has generated huge buzz among investors, as Lenskart is not just another D2C startup — it’s a profitable, fast-growing retail brand with a strong omnichannel presence across India and overseas.
Let’s dive deep into Lenskart IPO details, including price band, dates, lot size, GMP (Grey Market Premium), financials, and expert review to help you decide whether to invest.
Lenskart IPO Key Details
| Particular | Details |
|---|---|
| IPO Opening Date | 31 October 2025 |
| IPO Closing Date | 4 November 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹382 – ₹402 per share |
| Minimum Lot Size | 37 shares |
| Minimum Investment (Retail) | ₹14,874 |
| Issue Size (Fresh Issue) | ₹2,150 crore |
| Offer for Sale (OFS) | Up to several crore shares by existing investors |
| Listing Exchange | NSE and BSE |
| Expected Listing Date | 7 November 2025 (tentative) |
| Registrar | KFin Technologies Ltd. |
About Lenskart: India’s Eyewear Revolution
Founded in 2010 by Peyush Bansal, Lenskart began as an online eyewear platform but has since evolved into one of India’s largest omnichannel optical retail brands.
The company offers eyeglasses, contact lenses, and sunglasses through:
- Its website and mobile app
- Over 2,500 physical stores across 400+ cities
- International markets like Singapore, the UAE, and the Middle East
Lenskart’s mission is to make eyewear affordable, accessible, and fashionable. Its blend of AI-driven virtual try-on technology, in-house lens manufacturing, and franchise-based expansion model has made it a leader in India’s organised optical retail segment.
Lenskart Financial Performance
Lenskart’s financial growth over the last few years has been remarkable. After years of expansion investment, it finally turned profitable in FY25.
| Financial Year | Revenue (₹ crore) | Net Profit/Loss (₹ crore) |
|---|---|---|
| FY22 | 3,870 | -101 |
| FY23 | 5,247 | -28 |
| FY24 | 6,653 | +297 |
The company has successfully scaled while maintaining positive cash flow. The FY25 profit of ₹297 crore marks its first full-year profitability — a major confidence booster for investors.
Lenskart’s Business Model
Lenskart’s success lies in its hybrid business model, combining online convenience with offline experience.
- Online Platform – Users can order frames, try them virtually, and customise lenses with ease.
- Offline Stores – Company-owned and franchise outlets provide eye check-ups and personalised service.
- In-house Manufacturing – Lenskart manufactures its own lenses and frames, reducing dependency and cost.
- Subscription & Accessories – Offers lens protection plans, contact lens subscriptions, and eye-care accessories.
This integrated model helps the brand control customer experience, pricing, and margins — a key differentiator from competitors like Titan Eye+ and Specsmakers.
Lenskart IPO Objectives
According to the Draft Red Herring Prospectus (DRHP), the company plans to use the net proceeds from the fresh issue of ₹2,150 crore for the following purposes:
- Store Expansion: Setting up new company-owned stores and upgrading existing ones.
- Technology Investments: Enhancing cloud infrastructure, AI, and digital tools.
- Marketing & Branding: Strengthening domestic and international brand visibility.
- Debt Repayment & General Corporate Purposes.
- Strategic Acquisitions: Expanding into complementary eyewear/health-tech categories.
Promoters:
- Peyush Bansal (Co-founder & CEO)
- Amit Chaudhary (Co-founder)
- Sumeet Kapahi (Co-founder)
- Neha Bansal (Co-promoter)
Major Investors:
- SoftBank Vision Fund
- KKR
- Temasek Holdings
- Alpha Wave Global
- Radhakishan Damani (pre-IPO investment worth ₹90 crore)
After the IPO, promoter shareholding will dilute slightly, but Peyush Bansal will continue to hold a significant controlling stake.
Lenskart IPO Valuation and Comparison
At the upper price band of ₹402, Lenskart’s implied valuation is around ₹65,000–₹70,000 crore (US$8–9 billion).
That’s significantly higher than most traditional retail players, but justified by:
- Strong revenue CAGR (~25%+ over 3 years)
- Profit turnaround in FY25
- Global expansion and tech-led positioning
Peer Comparison:
| Company | FY25 Revenue (₹ Cr) | Net Profit (₹ Cr) | Valuation (₹ Cr) | P/E Ratio |
|---|---|---|---|---|
| Lenskart (IPO) | 6,653 | 297 | 65,000+ | ~220x |
| Titan Company | 53,000 | 3,800 | 330,000 | ~87x |
| Honasa (Mamaearth) | 2,500 | 170 | 11,000 | ~65x |
While Lenskart’s P/E looks steep, growth investors may see it as India’s next consumer tech success story, much like Nykaa or Titan in their early years.
Strengths of Lenskart IPO
Dominant Market Leader: India’s largest eyewear retailer, ~40% market share in organised optical retail.
Hybrid Distribution Model: Strong online + offline integration.
High Brand Recall: Supported by celebrity campaigns and the Shark Tank fame of Peyush Bansal.
Profitability Achieved: FY25 profit indicates business maturity.
Global Expansion: Growing presence in the UAE, Singapore, and beyond.
Tech-Enabled Operations: AI-driven eye tests, home trials, and virtual try-ons.
Risks and Challenges
High Valuation: The IPO is priced aggressively compared to other consumer brands.
Rising Competition: Entry of global eyewear players and aggressive online startups.
Retail Dependence: Footfall and consumer spending can fluctuate with the economy.
Operational Costs: High rental and marketing expenses may impact margins.
OFS Component: Large investor exits may create short-term selling pressure post listing.
Expert Review: Should You Apply for Lenskart IPO?
Market experts are optimistic about Lenskart’s long-term story, citing its first-mover advantage, profitability, and massive market opportunity.
- Short-Term View (Listing Gains): With strong GMP (~₹110), decent listing gains are likely if market sentiment stays positive.
- Long-Term View: Lenskart offers exposure to India’s growing eyewear and health-tech sector, backed by solid brand equity. Investors with a 3–5 year horizon may see substantial growth if the company sustains profitability.
In summary:
Apply for listing gains if GMP remains strong; stay invested long term for compounding growth in India’s optical revolution.
Important Lenskart IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | 31 October 2025 |
| IPO Close Date | 4 November 2025 |
| Basis of Allotment | 5 November 2025 |
| Refunds Initiation | 6 November 2025 |
| Shares Credit to Demat | 6 November 2025 |
| Listing Date (Expected) | 7 November 2025 |
How to Apply for Lenskart IPO
You can apply for the Lenskart IPO using your UPI ID through these platforms:
- Zerodha (Console → IPO section)
- Groww App
- Angel One / Upstox
- ICICI Direct / HDFC Securities / Kotak Securities
Steps:
- Log in to your broker account
- Select “Lenskart IPO”
- Enter lot size & bid price
- Approve the UPI mandate via your UPI app
FAQs on Lenskart IPO
Q1. What is Lenskart IPO price band?
The price band is ₹382–₹402 per share.
Q2. When will Lenskart IPO open?
The IPO opens on 31 October 2025 and closes on 4 November 2025.
Q3. What is the Lenskart IPO GMP today?
Current GMP is around ₹110 per share, showing strong demand.
Q4. What is the lot size for Lenskart IPO?
Investors can apply for a minimum of 37 shares (₹14,874).
Q5. When will Lenskart list on stock exchanges?
Tentatively on 7 November 2025, on both NSE and BSE.
Q6. Is Lenskart a profitable company?
Yes, the company reported a profit of ₹297 crore in FY25.
Q7. Should I apply for Lenskart IPO?
If you believe in India’s eyewear growth story and Lenskart’s strong brand positioning, this IPO may be a good addition to a long-term portfolio.
Final Thoughts
The Lenskart IPO 2025 is one of the most anticipated consumer-tech listings of the year. With a robust brand presence, profitability, and international expansion, it represents a rare mix of tech-driven scalability and retail trust.
However, investors should evaluate valuation and risk appetite before subscribing. For those seeking exposure to India’s next consumer success story, Lenskart could be the one to watch.
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