Lenskart Solutions Limited filed its Red Herring Prospectus (DRHP) with SEBI on October 25, 2025, to raise funds through an Initial Public Offer (IPO). The IPO will be a Book Build Issue, consisting of a fresh issue worth ₹2,150.00 crore along with an offer for sale (OFS) of up to 12.76 crore equity shares.
The equity shares of Lenskart Solutions Limited are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). MUFG Intime India Private Limited has been appointed as the registrar of the issue.
The IPO opens for subscription on October 31, 2025, and will close on November 4, 2025.
The basis of allotment is expected to be finalised on November 6, 2025, and the shares are likely to be listed on NSE SME on November 10, 2025. The price band for the issue is set between ₹382 and ₹402 per share, offering investors an entry at different levels.
The minimum application size is 37 shares, making the minimum investment for retail investors ₹14,874 at the upper band. For HNI investors, the minimum lot size is 14 lots, equivalent to 518 shares, amounting to ₹2,08,236.
Industry Outlook
- The global eyewear market, valued at approximately ₹15,207 billion (US$ 177 billion) in FY 2025, is projected to grow steadily and reach around ₹18,657 billion (US$ 217 billion) by FY 2030, recording a CAGR of nearly 4%.
- India’s eyewear market is forecasted to expand at a much faster pace, with a CAGR of nearly 13%, increasing from around ₹788 billion (US$ 9.2 billion) in FY 2025 to approximately ₹1,483 billion (US$ 17.2 billion) by FY 2030.
- Prescription eyeglasses form the largest share of the eyewear segment, contributing about 70% of global market value and nearly 73% in India as of FY 2025, making it the most significant product category.
Lenskart Solutions IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Capital expenditure for setting up new Company-Owned Company-Operated (CoCo) stores across India.
- Payments related to lease, rent, and license agreements for CoCo stores in India.
- Investment in technology and cloud infrastructure to strengthen digital operations.
- Brand marketing and promotional activities to boost awareness and reach.
- Inorganic acquisitions, along with meeting general corporate requirements.
About Lenskart Solutions Limited
Lenskart Solutions Limited is a technology-driven eyewear company focused on making quality and affordable eyewear accessible to all. The company operates an integrated model that spans designing, manufacturing, branding, and retailing of products such as prescription eyeglasses, sunglasses, contact lenses, and accessories.
India remains the largest market, where the company is recognised as the biggest seller of prescription eyeglasses by volume in FY 2025, according to the Redseer Report.
Lenskart Solutions Limited has also expanded internationally to markets including Japan, Southeast Asia, and the Middle East. With 2,723 stores worldwide, of which 2,067 are in India and 656 overseas, the company has built a strong omnichannel presence through retail stores, websites, and mobile applications, which have surpassed 100 million cumulative downloads.
A key strength lies in its centralised and technology-enabled supply chain. Facilities in Bhiwadi, Rajasthan, and Gurugram, Haryana, supported by regional hubs in Singapore and the UAE, allow efficient production and timely delivery. This integration has also positioned its Bhiwadi unit among the top two globally in terms of manufacturing capacity for prescription eyeglasses.
The company reported revenues of ₹66,525.17 million in FY 2025, reflecting consistent growth across both Indian and international operations. Beyond sales, it conducted over 16 million eye tests in FY 2025, making it one of the leading providers of vision services globally.
By combining technology, affordability, and design innovation, Lenskart Solutions Limited has established itself as India’s most trusted eyewear brand and a rising global player in the organised eyewear industry.
How To Check the Allotment Status of Lenskart Solutions IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Lenskart Solutions IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Lenskart Solutions IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Lenskart Solutions IPO
Registered office: Plot No. 151, Okhla Industrial Estate, Phase III, New Delhi–110020, Delhi, India
Phone: +911244293191
E-mail:compliance.officer@lenskart.com
Lenskart Solutions IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares | Not less than 75% of the Net Offer |
| Retail Shares | Not more than 10% of the Net Offer |
| NII Shares | Not more than 15% of the Offer |
Lenskart Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 1 | 37 | ₹14,874 |
| Individual investors (Retail) (Max) | 13 | 481 | ₹1,93,362 |
| S-HNI (Min) | 14 | 518 | ₹2,08,236 |
| S-HNI (Max) | 67 | 2,479 | ₹9,96,558 |
| B-HNI (Min) | 68 | 2,516 | ₹10,11,432 |
Lenskart Solutions IPO Promoter Holding
The promoters of the company include Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi.
| Share Holding Pre-Issue | 19.85% |
| Share Holding Post Issue | 17.52% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Lenskart Solutions IPO
| KPI | Value |
| RoCE (%) | 13.84 |
| RoNW (%) | 4.84 |
| EBITDA Margin (%) | 14.60 |
Lenskart Solutions IPO Prospectus
Lenskart Solutions IPO Registrar and Lead Managers
Lenskart Solutions IPO Lead Managers
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Private Limited
- Avendus Capital Private Limited
- Citigroup Global Markets India Private Limited
- Axis Capital Limited
- Intensive Fiscal Services Private Limited
Registrar for Lenskart Solutions IPO
MUFG Intime India Private Limited
- Contact Number: +91-22-4918 6270
- Email Address: lenskart.ipo@in.mpms.mufg.com
- Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Financial Performance of Lenskart Solutions Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
| Revenue from Operation (in ₹ million) | 66,525.17 | 54,277.03 | 37,880.28 |
| Profit/ (loss) for the year (in ₹ million) | 2,973.40 | (101.54) | (637.57) |
| Earnings per Share (₹) | 1.76 | (0.11) | (0.43) |
| Net Worth (in ₹ million) | 61,082.99 | 56,423.78 | 54,444.79 |
| Return on Net Worth (%) | 4.84 | (0.31) | (1.25) |
| EBITDA (in ₹ million) | 9,710.56 | 6,720.91 | 2,597.09 |
| Total Borrowing (in ₹ million) | 3,459.39 | 4,971.54 | 9,172.08 |
Strengths and Opportunities of Lenskart Solutions Limited
- Centralised supply chain ensures 75.37% inventory efficiency, driving accessibility and affordability.
- Robotic lens edging manufactures 27 prescription eyeglasses per minute with precision.
- Next-day delivery across 40 Indian cities makes Lenskart a logistics leader.
- Wide product range with 79,000 SKUs and 105 yearly collections.
- Expansive presence with 2,067 stores in India and 656 abroad.
- Strong brand reach with 29.52 million store visits in FY2025.
- Multi-brand portfolio of Lenskart, Owndays and 22 curated sub-brands.
- Large technology team of 532 members boosts AI-driven operational efficiency.
Risks and Threats of Lenskart Solutions Limited
- Raw materials cost ₹16,229.74 million, 24.52% of total FY2025 expenses.
- Heavy dependence on China suppliers and Baofeng JV exposes to disruptions, tariffs.
- Breakdowns, strikes, or cyberattacks at factories may halt production and deliveries.
- Gurugram industrial cluster reliance increases concentration risks for manufacturing and logistics operations.
- Non-compliance with environmental, health, safety laws may attract penalties and shutdowns.
- Telangana greenfield facility worth ₹15,000 million faces approval, construction, funding delays.
- Global operations across 14 countries exposes the company to currency and regulatory risks.
- Ongoing FEMA investigation by Enforcement Directorate could harm reputation, operations, and finances.
