Lenskart Solutions IPO: Everything You Need to Know

Lenskart Solutions Ltd., a dominant player in India's eyewear retail and D2C space, is preparing for a massive IPO likely scheduled for early November 2025. Founded in 2010 by Peyush Bansal, Lenskart has grown from an online startup to one of the most recognised omnichannel brands in eyewear, with over 2,000 stores nationwide and expanding international footprint. This IPO is expected to be among the largest tech-enabled consumer offerings of the year, reflecting Lenskart’s scalable business model and strong market presence.

The Lenskart IPO is set to raise approximately ₹8,000 crore through a combination of a fresh equity issuance worth ₹2,150 crore and an offer for sale (OFS) from existing shareholders offloading up to 13.23 crore shares. The issue is aimed at supporting rapid retail expansion, technology upgrades, and brand building, while offering partial exits to marquee private equity investors such as SoftBank, KKR, Temasek, and Premji Invest.

This article offers a detailed overview of the Lenskart IPO including the issue structure, timeline, financial highlights, business context, sector prospects, and factors investors must consider before subscribing.

Lenskart IPO Dates & Launch Details

• IPO opening date: To be announced (expected in November 2025)
• IPO closing date: To be announced (Typically three days after opening)
• Basis of allotment: To be announced (Within 3 working days post closure)
• Refund initiation: To be announced (Shortly after basis of allotment)
• Expected listing date: To be announced (Usually within a week following allotment finalisation)

Price Band & Investment Details

• Price band: To be announced (Face value: ₹2 per share)
• Minimum lot size: To be announced
• Minimum investment: To be announced
• Maximum retail investment: To be announced

Lenskart IPO Structure

About Lenskart

Lenskart Solutions is India’s leading eyewear retailer, blending physical presence with a tech-driven D2C model. It sells glasses, sunglasses, contact lenses, and related products. Key highlights include:

Core Product Segments:

• Over 2,000 retail stores across India, of which 1,757 are company-owned and 310 franchisee-operated.​
• Significant investments in AI and virtual try-on technology to enhance customer experience.
• Manufacturing presence at a state-of-the-art plant in Bhiwadi, Rajasthan.​
• Growing international presence in regions including Southeast Asia and the Middle East.​
• Deep integration of supply chain, technology platforms, and logistics to manage a seamless omnichannel customer journey.

This well-rounded business model supports scalability, brand loyalty, and a continuous flow of innovation, allowing Lenskart to compete effectively against established players and newer direct-to-consumer startups.​

Financials 

Revenue and Profit Table

Cash Flow Table

Key Highlights:

• Lenskart posted strong revenue growth of 22.6% in FY25 to ₹6,652.5 crore, reflecting expanding market reach and sales acceleration.
• Profitability was achieved in FY25, with a net profit of ₹297.3 crore, a significant turnaround from losses in the previous two years.
• Cash flow from operations and free cash flow have surged in FY25, indicating improved working capital management and operational efficiency.
• Margins expanded significantly to 14.6% in FY25, compared with 6.9% in FY23, demonstrating better cost control and profitable scaling.
• The company’s financial trajectory underscores operational strength, readiness for public listing, and capacity to sustain growth while improving profitability.

Sector & Market Context

India’s eyewear market is one of the fastest-growing segments within consumer retail, projected to grow at over 20% CAGR in the next 5 years. Rising screen time, increased fashion consciousness, and the emergence of middle-class consumers adopting branded products drive this growth. Organised and tech-enabled retailers such as Lenskart, Titan Eye+, and Vistara play crucial roles. The shift from largely unorganised local vendors to organised chains is well underway, positioning Lenskart favorably amid rising consumer demand for convenience, variety, and augmented purchasing experience.

Key Considerations for Investors

Strengths

• Market leader with a unique omni-channel model blending physical and online retail.
• Strong tech integration (AI, virtual try-ons) enhances customer loyalty.
• International expansion into fast-growing Southeast Asian and Middle Eastern markets.
• Successful path to profitability with strong margins and cash flow in FY25.

Risks

• High competition from multinational and local players.
• Changing fashion and consumer preference risks.
• Macroeconomic factors impacting discretionary consumer spending.

Opportunities

• Expanding middle-class and online consumer adoption.
• Increasing adoption of prescription eyewear and fashion accessories.
• Growing presence in new geographies and product segments.

IPO Structure

• Fresh issue raises ₹2,150 crore to fund expansion and brand-building activities.
• Up to 13.23 crore equity shares by major shareholders including SoftBank Vision Fund II, Alpha Wave Ventures, Temasek affiliates, Premji Invest, and Kedaara Capital
• Among promoters, Peyush Bansal will sell part of his holding (~2 crore shares) while co-promoters also pare down stakes selectively.
• The pre-IPO promoter holding percentage stands near 20%, ensuring continuity in strategic control after the IPO.
• Valuation and lot size to be announced closer to issue date.

About the Company

Founded in 2010 by Peyush Bansal, Lenskart Solutions Ltd. has transformed India’s eyewear retail sector with technology-led innovation and a hybrid retail model. The brand boasts a wide product range spanning prescription glasses, sunglasses, and contact lenses, complemented by strong logistics and manufacturing capabilities.

Conclusion

Lenskart’s IPO stands as a highly-anticipated offering for tech-enabled consumer retail in India, backed by consistent revenue growth and recent profitability. Investors should weigh the company’s dominant market position and growth potential against valuation and sector competition before subscribing.

Always consider personal investment objectives and consult trusted sources before making any decisions.