Peyush Bansal-led eyewear retailer Lenskart Solutions is set to open its initial public offering (IPO) on October 31, aiming to raise ₹7,278 crore at a price band of ₹382–₹402 per share. The three-day issue will close on November 4.
At the upper price limit, the company’s market valuation could touch ₹70,000 crore (around $7.97 billion), making it one of the most valuable consumer-tech listings in recent times.
According to its draft papers, the IPO includes a fresh issue of ₹2,150 crore and an offer for sale (OFS) worth ₹5,128.02 crore. The anchor book opens on October 30, and listing on BSE and NSE is expected by November 10.
The lot size for retail investors is 37 shares, translating to a minimum investment of ₹14,874. Allocation will be split across qualified institutional buyers (75%), non-institutional investors (15%), and retail investors (10%). Lenskart’s employees will get a discount of ₹19 per share.
The OFS will see exits from SoftBank, Kedaara Capital, Temasek, Alpha Wave Ventures, and promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.
Currently, the promoter group holds 19.96% in the company, with Peyush Bansal owning about 10.28% individually.
In the run-up to the IPO, Radhakishan Damani, the billionaire behind Avenue Supermarts (D-Mart), invested ₹90 crore in the pre-IPO round, signalling investor confidence in the brand’s retail strategy.
Lenskart plans to use ₹272.6 crore from the fresh issue to open 620 new company-operated stores across India by FY29. Around ₹591.4 crore will go towards lease deposits, and ₹213.4 crore for technology and cloud infrastructure upgrades—particularly in AI-driven fulfilment systems and robotic lens manufacturing.
A further ₹320 crore is earmarked for brand marketing and business promotion.
Financially, the eyewear major has shown a sharp turnaround. It reported a net profit of ₹297.3 crore in FY25, a major swing from the ₹10.2 crore loss in FY24.
Revenues climbed 23% year-on-year to ₹6,652.5 crore, while gross margins improved by over 500 basis points to nearly 69%, driven by operational efficiencies and scale.
Founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi, Lenskart has grown from a niche online eyewear seller to a full-fledged omnichannel retailer.
The company now operates 2,723 stores globally, including 2,067 in India and 656 overseas as of March 31, 2025. It competes with Titan Eyeplus, GKB Opticals, Lawrence & Mayo, Specsmakers, and several regional players.
The retailer’s in-house brands, such as Vincent Chase and John Jacobs, together sold 27.2 million eyewear units in FY25.
Lenskart runs manufacturing units in Bhiwadi and Gurugram, along with facilities in Singapore and the UAE. Through its joint venture Baofeng Framekart Technology Ltd, it also produces frames in China.
The IPO, therefore, is expected to fund its next phase of international expansion and solidify its tech-first retail model, though market response will ultimately decide how far the vision goes.
