Lenskart is a tech-driven eyewear company that manufactures, designs, and sells eyewear products, including eyeglasses, sunglasses, and contact lenses. The company is all set to launch its Initial Public Offering (IPO) on October 31, 2025.
The company’s valuation is approximately calculated at rupees 70,000 crore (approximately $7.97 billion). Price band is fixed at rupees 382 to rupees 402 per equity share. The total size of the IPO is at rupees 7,278 crore, which comprises, fresh issue of shares worth rupees 2,150 crore and an Offer for Sale (OFS) worth rupees 5,128 crore.
Founders to reduce stake holdings
A significant portion of the OFS involves the company's core founding team, as indicated in the Red Herring Prospectus (RHP). Co-founder and CEO Piyush Bansal, a prominent face from the television show Shark Tank India, is set to offload up to 2.05 crore equity shares.
Other co-founders are also participating in the share sale. Neha Bansal will sell up to 57.3 lakh shares, while Amit Chaudhary and Sumeet Kapahi will each sell up to 28.6 lakh shares.
At the upper end of the price band (rupees 402), the cumulative sale by the four co-founders is valued at approximately rupees 1,284.4 crore (approximately $154.2 million).
Besides the founders, major institutional investors will be paring their stakes. The OFS includes share sales by well-known names such as SoftBank Vision Fund (SVF II Lightbulb), Kedaara Capital, Temasek (via MacRitchie Investments), Alpha Wave Ventures, and Schroders Capital.
Company financials and use of proceeds
Lenskart comes to the public market with strong financials. The company reported a significant turnaround in the fiscal year ending on March 31, 2025, posting a net profit of rupees 297 crore against a loss of rupees 10 crore in FY24. Revenue from operations for FY25 grew 22.5 per cent, and Year-on-Year growth was reported at rupees 6,652 crore.
The rupees 2,150 crore raised from the fresh issue will be primarily used for aggressive expansion and technological enhancement. The company has set aside rupees 272.6 crore for setting up new company-owned stores, rupees 591.4 crore for lease deposits, and rupees 213.4 crore to boost its technology and cloud infrastructure, with a focus on AI-driven systems. An additional rupee 320 crore is allocated for brand marketing.
Recently, an ace investor and DMart founder, Radhakishan Damani, invested rupees 90 crore in Lenskart.
The anchor book for the IPO will open on October 30. The public issue will run from October 31 to November 4, with shares expected to be listed on the BSE and NSE on November 10, 2025.
