Lenskart IPO Details: Dates, Pricing & Insights
Lenskart, a prominent eyewear brand in India, has officially opened its much-anticipated initial public offering (IPO) worth ₹7,278 crore on October 31. This IPO has garnered significant attention, primarily due to the backing of notable global investors like SoftBank, Kedaara Capital, and Alpha Wave Ventures. The offering includes a fresh issue of ₹2,150 crore and an offer for sale (OFS) totaling ₹5,128 crore from existing shareholders and promoters.
Among the prominent investors participating in the IPO, SoftBank’s SVF II Lightbulb (Cayman) and others will be diluting part of their holdings. Founders Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary will also be selling a small fraction of their shares. The excitement around this IPO is reflected in the grey market, where shares have been trading at a premium, indicating strong investor interest.
The IPO is open for bidding until November 4, with a price band set between ₹382 and ₹402 per share. Retail investors can participate with a minimum investment of ₹14,874 and can apply for up to 13 lots, totaling 481 shares, which amounts to ₹1.93 lakh. The basis of allotment is expected to be announced on November 6, with shares likely to be listed on the BSE and NSE by November 10.
The funds raised through this IPO will be directed towards expanding retail stores, upgrading technology, and enhancing brand marketing efforts. Additionally, Lenskart plans to utilize a portion of the proceeds to repay rental obligations, pursue acquisitions, and bolster its presence in both offline and international markets, particularly in Southeast Asia and the Middle East.
Founded in 2008 as an online eyewear platform, Lenskart has transformed into a major omnichannel retailer. The company reported revenues of ₹6,653 crore for the fiscal year 2024-25 (FY25) and achieved profitability for the first time with a profit of ₹297 crore. Since its first physical store opening in 2013, Lenskart has rapidly expanded across Tier-1 and Tier-2 cities, successfully blending the convenience of online shopping with offline accessibility. Today, it serves millions of customers in India and abroad through its 472 retail stores.
