The highly anticipated ₹7,278 crore IPO of Lenskart, India’s eyewear market leader, is set to open for subscription on October 31, with the public listing expected November 10. Premji Invest will offload 87 lakh shares for ₹350 crore, realizing an extraordinary 16.7X return—handily topping the payday for most early backers.
Alongside this, co-founder Peyush Bansal will sell shares worth ₹824 crore, while SoftBank (₹1,026 crore/5.4X), Schroders Capital (₹766 crore/10X), Temasek (₹316 crore/4.1X), Kedaara Capital (₹296 crore/5.4X), and Alpha Wave (₹268 crore/3.8X) are set for big exits as well.
Read this: Lenskart Secures SEBI’s Final Nod to Raise Rs 2,150 Crore Through IPO, Eyes November Listing
IPO Structure and Strong Financial Performance
The IPO features a ₹2,150 crore fresh issue and a ₹5,128 crore offer for sale, valuing Lenskart at up to ₹70,000 crore (~$8 billion) at the upper end of its ₹402/share price band. The company’s RHP reveals a dramatic turnaround:
- Q1 FY26 net profit stood at ₹61 crore (versus a ₹11 crore loss YoY) on operating revenue of ₹1,894 crore (up 25% YoY).
- FY25 profits surged to ₹297 crore after a loss in FY24.
- Total FY25 income rose 24% to ₹7,009 crore, capping years of robust double-digit growth.
Funding Journey and Top Shareholders
Lenskart has raised over $1.8 billion in total funding, drawing marquee investors like SoftBank, Temasek, ADIA, Fidelity, Alpha Wave, ChrysCapital, and KKR.
- Early backers included IDG Ventures, TPG, and Premji Invest.
- The firm’s value has soared from $2.5 billion in 2021 to $6.1 billion by early 2025, and now $8 billion with its public issue.
- Noteworthy, the company acquired Owndays in Japan, pushing global expansion and boosting its group revenue mix.
Read this: DMart Founder Radhakishan Damani Invests Rs 90 Crore in Lenskart
Expansion and Future Plans
- ₹272 crore will go to opening 620 new company-owned stores by FY29 and ₹591 crore to secure rental/license agreements for its expanding retail network.
- ₹213 crore is planned for tech and cloud investments, while ₹320 crore will fund aggressive brand marketing.
- Lenskart is betting big on cutting-edge offerings like smart eyewear, AR glasses, and blue-light protection frames, as well as ramping up manufacturing with a new plant in South India to increase capacity to 25 million frames a year.
Internationally, the company’s acquisition of Owndays has made Japan its key growth market outside India. Strategic tie-ups (recently with Blinkit for instant delivery) reflect Lenskart’s drive to broaden access and deepen its omnichannel prowess.
Market Leadership and Strategic Vision
With a dominant 70% share in India’s organized optical retail, omnichannel business, and innovative D2C DNA, Lenskart’s founder Peyush Bansal calls this listing a “milestone, not an exit,” reaffirming a long-term vision of democratizing quality eyewear for the world’s fastest-growing consumer markets.
The Initial public offering promises to be not just a blockbuster for early investors like Premji Invest but a bellwether for India’s next wave of retail-tech stories—where scale, profitability, and global ambition create enduring value beyond the listing day.
