IPO Details and Structure

Lenskart Solutions Ltd., a leading eyewear retailer in India, will open its IPO on October 31, 2025, with the subscription period running until November 4, 2025. The company aims to raise a total of ₹7,278 crore, comprising a fresh issue of ₹2,150 crore and an Offer for Sale (OFS) of 12.75 crore equity shares by existing investors, including promoters and venture capital firms.

The IPO is expected to value Lenskart at around ₹70,000 crore, reflecting investor confidence in the company’s growth trajectory and international footprint. Analysts note that the offering is among the largest IPOs in India in 2025 and is likely to attract strong participation from institutional and retail investors.

Use of IPO Proceeds

Funds from the fresh issue will be deployed strategically to strengthen Lenskart’s operations and expansion plans. Key areas include:

  • Store expansion: Opening new company-owned outlets across India to increase physical retail presence.
  • Technology upgrades: Enhancing online platforms, improving e-commerce capabilities, and strengthening supply chain management.
  • Artificial Intelligence (AI) integration: Leveraging AI to improve customer experience, product recommendations, and operational efficiency.
  • Marketing and brand promotion: Boosting domestic and international brand awareness through campaigns and partnerships.

These investments are aimed at consolidating Lenskart’s market leadership in eyewear while supporting growth in international markets.

Investor Participation and Promoter Shares

The OFS will see participation from prominent investors such as SoftBank’s SVF II Lightbulb (Cayman), Schroders Capital, PI Opportunities Fund, MacRitchie Investments, Kedaara Capital Fund, and Alpha Wave. Notably, Schroders Capital Private Equity Asia Mauritius plans to exit its entire 1.9 crore shareholding through the IPO, signaling investor confidence in the liquidity and value creation potential of Lenskart.

Financial Performance

Lenskart has demonstrated strong financial performance leading up to the IPO. For the fiscal year 2025 (FY25):

  • Net profit: ₹297 crore, a significant improvement from a loss of ₹10 crore in FY24.
  • Revenue growth: 22% increase to ₹6,625 crore.
  • International contribution: Over 40% of revenue came from overseas markets, including Taiwan, Australia, Japan, South Korea, Thailand, and West Asia.

This turnaround reflects robust operational efficiency, growing brand recognition, and successful international expansion.

Market Outlook and Strategic Significance

The Lenskart IPO comes at a time when the eyewear market in India and abroad is experiencing rapid growth, driven by increasing health awareness, fashion trends, and adoption of online shopping. The capital raised will help Lenskart compete with domestic rivals and global eyewear brands while accelerating technological adoption and international expansion.

Experts suggest that the IPO will be closely watched for institutional investor interest, which will provide insights into market confidence in consumer-focused retail businesses post-pandemic.