Lenskart IPO: What Investors Need to Know Before the Listing

Written by Kiran Jani

Last Updated on: October 30, 2025

If you’re reading this, you’re likely eyeing the Lenskart IPO — and you’ve come to the right place. This article breaks down the Lenskart IPO in a clear, structured way to help you decide whether to apply. We’ll walk through key dates, price band, business model, strengths and risks, valuation, and final take-aways for the investor. If you want to see how to apply, check out our simple “apply to IPO” page for step-by-step guidance.

What is the Lenskart IPO?

The company behind this offering, Lenskart Solutions Limited, is India’s leading omni-channel eyewear retailer. Founded around 2010 (after evolving from its earlier identity) the business now operates a large online platform and a network of physical stores.

With the Lenskart IPO, the company is planning to go public and raise fresh funds while also giving existing shareholders and promoters a chance to exit partly. According to official disclosures, the Lenskart IPO price band has been fixed in the range of ₹382 to ₹402 per share.

The total size of the issue is around ₹7,278 crore, comprising a fresh issue of about ₹2,150 crore plus an Offer For Sale (OFS) by promoters and existing investors.

The Lenskart IPO opens for subscription on 31 October 2025 and closes on 4 November 2025. The listing is expected around 10 November 2025.

Why the Lenskart IPO matters

a. Large-scale market opportunity

Lenskart’s business addresses eyewear — prescription glasses, sunglasses, contact lenses — which is a growing category in India and abroad. It has a strong omnichannel presence: online + offline stores.

This means the Lenskart IPO offers investors exposure to a consumer-brand growth story rather than purely tech or fintech.

b. Use of proceeds

The fresh issue part of the Lenskart IPO will fund expansion of company-owned stores (CoCo model), investment in technology and cloud infrastructure, brand marketing, and possibly acquisitions.

c. Promoter & investor stake sale

The OFS part means that promoters and early backers are selling shares as part of the Lenskart IPO. For example, CEO/promoter Peyush Bansal is selling ~2 crore shares and will get ~₹824 crore from this sale.

This is a double‐edged point: it provides liquidity to early investors, but also means those insiders are partially exiting.

Key details of the Lenskart IPO

• Price band: ₹382 – ₹402 per equity share (face value ₹2). 
• Issue opens: 31 October 2025. Closes: 4 November 2025. 
• Minimum lot size: 37 equity shares for retail investors (approx amount ~₹14,874 at lower end). 
• Allocation: 75% shares for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors. 
• Valuation: At the upper end of the price band (~₹402), the implied valuation of Lenskart is about ~₹69,676 crore (≈USD 8 billion).

Strengths & Business Highlights

Here are some of Lenskart’s notable strengths that support the case for the Lenskart IPO:

• It has transitioned from online-only to a full omnichannel model, which broadens reach and may support scalability. 
• Improved profitability: The company reported a net profit in FY25 after earlier losses. 
• Backed by strong investor interest: Pre-IPO investments, marquee shareholders, etc, lend credibility.
• Large addressable market: Eye care and eyewear are perpetual needs categories, and increased consciousness about vision correction may drive demand.

If you participate in the Lenskart IPO via the “apply to IPO” route, you’re essentially buying into the company at an early public stage.

Risks & What Investors Should Watch

No investment is without risk, and the Lenskart IPO is no exception. Here are key risk factors:

• Valuation may be stretched. At the upper price band, valuations (EV/Sales and EV/EBITDA) look expensive compared to peers. Analysts have called this out. 
• Heavy institutional allocation. With QIBs getting 75% of shares, retail portion is only 10% — meaning retail investors may have limited allotment and may face subscription pressure.
• Dependence on growth execution. The company’s future relies on executing store-expansion, technology upgrades, supply chain efficiencies. If any of those slip, growth may decelerate.
• Competitive pressures. Eyewear market is competitive (online players, offline optician chains, international brands) and margin pressures may arise.
• Promoter exit component. The fact that existing shareholders are selling shares as part of the Lenskart IPO may raise questions for some investors regarding their confidence in long-term business.

Should You Apply for the Lenskart IPO?

Here are some pointers to help you decide whether to apply for the Lenskart IPO:

• If you believe in the consumer-luxury/eyewear segment in India and are comfortable with somewhat elevated valuation, then the Lenskart IPO offers an entry.
• If you are a retail investor and will have to bid at the cutoff price, you must understand that allotment may be low, and listing gains (if any) may be modest given the valuation stretch.
• Use your own risk assessment: weigh potential upside (brand growth, market expansion) vs potential downside (execution risk, valuation).
• If your investment horizon is long-term (3-5 years or more), this aligns with what the company is promising (growth and scale). If you are looking for a quick “pop” on listing, you need to accept listing risk.
• Ensure you have applied through proper channels (ASBA, your broker) and understand the lot size, minimum investment (for example ~₹14,874 for 37 shares), etc.
• Check allotment status once done (the basis of allotment will be finalised around 6 November 2025).

What to Monitor Post-Listing

Once the Lenskart IPO is listed, here are key metrics for investors to monitor:

• Listing price vs issue price: how the market is valuing Lenskart relative to IPO price.
• Quarterly revenue growth: whether the company is scaling the store network and online business as promised.
• Margin improvement: as store expansion continues, margins may come under pressure; keep an eye.
• New store productivity: how the company’s company-owned stores are doing (co­co model).
• International growth: any further expansion into overseas markets.
• Competitive environment: if newer entrants or pricing wars emerge, Lenskart may face headwinds.

Conclusion

The Lenskart IPO is one of the marquee listings of the year in India’s consumer space — offering access to a strong brand with a large market opportunity, backed by solid backing and growth plans. At the same time, the valuation is aggressive, the retail allotment is relatively modest, and execution risk is real.

If you are comfortable with these factors and have a long-term horizon, you may consider applying in the Lenskart IPO. But, if you are looking for a very safe “short-term gain” listing play, you must be aware that listing risk exists and the upside may be constrained.

Before you apply, make sure your Demat account and broker are in order, funds are available, and you understand the lot size and application process. For detailed steps on how to proceed, visit our apply to IPO page.

Quick FAQ on the Lenskart IPO

Disclaimer: This article is intended for informational purposes only and does not constitute investment advice or a recommendation to apply for the IPO. Please read the Red Herring Prospectus (RHP) and consult a SEBI-registered financial advisor before making any investment decisions. For detailed disclosures and risk factors, refer to the official filings available on the SEBI website.

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