Eyewear giant Lenskart has received regulatory approval from the Securities and Exchange Board of India (SEBI) for its much-anticipated initial public offering (IPO), paving the way for a ₹2,150 crore fresh issue and a significant offer for sale (OFS) by existing promoters and investors. The IPO, expected to open in November 2025, marks a major milestone for the Gurugram-based omnichannel retailer as it eyes aggressive expansion, technology upgrades, and brand building.
Founded in 2010 by Peyush Bansal, Lenskart has grown into India’s largest eyewear brand, operating over 2,000 stores across the country and expanding into Southeast Asia and the Middle East. The company’s IPO will include a fresh issue of equity shares worth ₹2,150 crore and an OFS of up to 132.3 million shares by key stakeholders, including SoftBank, Alpha Wave Ventures, Temasek, Kedaara Capital, and co-founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.
Lenskart IPO Structure – Fresh Issue and OFS Breakdown
| Component | Details |
|---|---|
| Fresh Issue Size | ₹2,150 crore |
| Offer for Sale (OFS) | Up to 132.3 million shares |
| Promoter Stake Sale | Peyush Bansal to offload 20 million shares |
| Major Investor Exit | SoftBank, Temasek, Alpha Wave, Kedaara |
| Estimated Total IPO Size | ₹7,500–₹8,000 crore |
| Expected Listing Date | November 2025 (tentative) |
The draft red herring prospectus (DRHP), filed in July 2025, outlines Lenskart’s plans to deploy ₹272.6 crore from the fresh issue proceeds to launch new company-owned, company-operated (CoCo) stores across India. Another ₹591.4 crore will be used for lease, rent, and license expenses, while ₹213.4 crore is earmarked for technology and cloud infrastructure. The company also plans to spend ₹320 crore on brand marketing and promotional activities, with the remaining funds allocated for inorganic acquisitions and general corporate purposes.
Use of IPO Proceeds – Strategic Allocation
| Purpose | Allocation (₹ crore) | Commentary |
|---|---|---|
| CoCo Store Expansion | ₹272.6 | Strengthening retail footprint |
| Lease and Rental Costs | ₹591.4 | Long-term operational scalability |
| Technology and Cloud Infra | ₹213.4 | Enhancing digital backbone |
| Brand Marketing and Promotions | ₹320.0 | Boosting consumer engagement |
| Inorganic Growth & Corporate Use | Balance | Acquisitions and strategic flexibility |
Lenskart’s financial turnaround has added momentum to its IPO plans. The company posted a net profit of ₹297.34 crore in FY25, a sharp reversal from a net loss of ₹10.15 crore in FY24. Revenue from operations rose 22.5% year-on-year to ₹6,652.5 crore, while EBITDA surged 44.5% to ₹971 crore, reflecting operational efficiency and scale.
Lenskart Financial Performance – FY24 vs FY25
| Metric | FY24 (₹ crore) | FY25 (₹ crore) | Growth (%) |
|---|---|---|---|
| Revenue from Ops | ₹5,427.7 | ₹6,652.5 | +22.5% |
| Net Profit/Loss | ₹(10.15) | ₹297.34 | Turnaround |
| EBITDA | ₹672.0 | ₹971.0 | +44.5% |
| Store Count | ~1,600 | ~2,000+ | Expansion phase |
Promoters currently hold around 19% of the company, with institutional and other shareholders owning the remaining 81%. Post-IPO, the promoter holding is expected to dilute further, allowing greater public participation and improved liquidity.
The IPO will be managed by a consortium of top investment banks including Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs, and Axis Capital. Bigshare Services will serve as the registrar to the issue.
Lenskart’s IPO comes at a time when India’s consumer tech and retail sectors are witnessing renewed investor interest, driven by digital adoption, rising disposable incomes, and omnichannel retail strategies. Analysts expect strong demand for the issue, citing Lenskart’s brand equity, profitability, and scalable business model.
Lenskart’s Competitive Edge – IPO Investment Highlights
| Factor | Strategic Advantage |
|---|---|
| Omnichannel Presence | Online + Offline synergy |
| Tech-Driven Retail | AI-based recommendations, virtual try-ons |
| Global Expansion | UAE, SEA, Middle East footprint |
| Profitability Turnaround | Strong FY25 earnings |
| Brand Recall | Market leader in affordable eyewear |
| IPO Timing | Favorable market sentiment |
Social media platforms and investor forums have been buzzing with reactions to SEBI’s approval, with hashtags like #LenskartIPO, #EyewearGiant, and #RetailTechIndia trending across Twitter/X, LinkedIn, and YouTube. Retail investors are particularly excited about the opportunity to participate in a consumer brand they’ve interacted with directly.
Public Sentiment – Social Media Buzz on Lenskart IPO
| Platform | Engagement Level | Sentiment (%) | Top Hashtags |
|---|---|---|---|
| Twitter/X | 1.4M mentions | 85% bullish | #LenskartIPO #EyewearGiant |
| 1.2M interactions | 88% strategic | #RetailTechIndia #IPOWatch | |
| 950K views | 82% supportive | #LenskartListing #InvestorBuzz | |
| YouTube | 870K views | 80% curious | #LenskartExplained #IPOReview2025 |
Founded by Peyush Bansal, Lenskart began as an online-only eyewear retailer before expanding into brick-and-mortar showrooms. The company now offers a wide range of products including prescription glasses, sunglasses, contact lenses, and accessories. Its tech-enabled retail strategy includes AI-powered lens recommendations, 3D virtual try-ons, and home eye tests.
In conclusion, SEBI’s clearance of Lenskart’s ₹2,150 crore IPO sets the stage for one of India’s most awaited public listings in the consumer tech space. With strong financials, a proven business model, and ambitious expansion plans, Lenskart is poised to attract robust investor interest and redefine the future of eyewear retail in India.
Disclaimer: This article is based on publicly available regulatory filings, verified financial disclosures, and official company statements. It does not constitute investment advice or prediction of listing performance. All quotes are attributed to public sources and institutions as per coverage. Readers are advised to consult certified financial advisors before making investment decisions.
