Lenskart IPO price band ₹382–₹402; aims to raise ₹7,278 crore
Company valuation ~₹72,719 crore; fresh issue ₹2,150 crore; OFS included
FY25 revenue ₹6,652.5 crore; net profit ₹297.3 crore signals turnaround
Proceeds for 620 new stores, tech, marketing; execution and margin risks
Eyewear major Lenskart Solutions Ltd on Saturday filed its red herring prospectus (RHP) and set a price band of ₹382–₹402 for an initial public offering (IPO) that will open to the public on Oct 31 (anchor bids Oct 30) and close on Nov 4.
The offering values the eyewear retailer at roughly ₹72,719 crore and is structured to raise about ₹7,278 crore in total, comprising a ₹2,150 crore fresh issue and an offer for sale (OFS) of 127.5 million shares by promoters and investors.
Lenskart IPO's latest GMP is ₹86, as per investorgain.com. It was last upadated on Octover 27, 11.28 AM. With the upper price band of ₹402.00, the IPO's estimated listing price is ₹488 as per the website with expected percentage gain per share to be 21.39%.
Trimmed OFS
Lenskart has trimmed the OFS slightly from earlier plans after promoter Neha Bansal reduced her sale. Other selling shareholders continuing with the OFS include founders Peyush Bansal, Amit Chaudhary and Sumeet Kapahi, and marquee backers such as SoftBank, Temasek, Kedaara, Premji Invest and Alpha Wave Ventures.
Schroders Capital will fully exit through the OFS. The company plans to disclose final share allotments by Nov. 6 and aims for a market debut around Nov. 10 on the BSE and NSE.
Use of Proceeds
From the fresh capital, Lenskart has earmarked ₹272.6 crore to open new company-owned stores, ₹591.4 crore for rental/licence obligations tied to store rollouts, ₹213.4 crore for technology and cloud infrastructure, and ₹320 crore for marketing.
The company says it intends to add 620 new stores by FY29; the remainder of proceeds will fund acquisitions and general corporate purposes.
Lenskart reported a strong financial rebound: full-year FY25 revenue rose to ₹6,652.5 crore (up 22.6% YoY) and the firm swung to a net profit of ₹297.3 crore from a loss the prior year. In Q1 FY26, it recorded ₹1,894.5 crore in revenue (up 24.6% YoY) and a quarterly net profit of ₹61.2 crore. Management says profitability and store investments underpin its public-market debut.
Allocation & Risks
The issue reserves 75% for qualified institutional buyers, 15% for non-institutional investors and 10% for retail bidders, with a small employee reservation.
Book-running lead managers include Kotak Mahindra, Morgan Stanley India, Avendus, Citi, Axis Capital and others. The top end of the band implies a market valuation near the figure cited in filings; recent pre-IPO secondary trades suggested investor interest at comparable levels.
Lenskart will list into a crowded Indian eyewear and omnichannel retail market that includes strong organised and regional players.
Key risks flagged by market observers include successful execution of a capital-intensive store rollout, conversion of offline traffic into profitable same-store economics, and sustaining margins while scaling. Macroeconomic sensitivity in discretionary retail and investor appetite for consumer IPOs will also affect listing performance.
