Lenskart Set for ₹7,024 Crore IPO at $8 Billion Valuation

Eyewear retailer Lenskart is set for its highly-anticipated public listing with subscriptions open to the public between October 31 and November 4, with a valuation of around $8 billion (₹70,000 crore). The date for trading to begin on the stock market is November 10 and this will be one of India's biggest public offerings of 2025.

With backup from SoftBank, Lenskart has decided on a price band of ₹382–402 per share. The offering consists of a fresh share sale of ₹2,150 crore and an offer-for-sale (OFS) of 127.56 million shares by existing investors for a total of ₹7,024 crore ($830 million).

The company has several notable selling shareholders including Peyush Bansal, Neha Bansal, Amit Chaudhary, Sumeet Kapahi and global investors such as SoftBank’s SVF II Lightbulb, Schroders Capital, Kedaara Capital and Alpha Wave Ventures.

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The Lenskart IPO will be launched via the book-building route, per SEBI requirements, with an offer to be listed on BSE and NSE exchanges. The lead managers are Kotak Mahindra Capital, Morgan Stanley India and Avendus Capital.

The company plans to use the IPO proceeds to grow its CoCo stores, develop its technology infrastructure and support brand marketing. Lenskart is looking to open 450 new stores this year, which would take its total number of stores to more than 3,150 in 14 countries, its fastest expansion by number of stores to date.

In FY25, Lenskart grew revenue to ₹6,652.5 crore, or 22.5% year-on-year, and reported net profit of ₹297.34 crore. As demand for vision correction in India is forecast to reach more than one billion people by 2030, Lenskart is gearing up to compete as a significant player in the eyewear retail space, to their competitors Titan Eyeplus, Specsmakers and Luxottica Group.