Eyewear retailer Lenskart Solutions on Friday opened its initial public offering (IPO), aiming to raise Rs 2,150 crore through a fresh issue of shares, while promoters and existing investors will sell 12.75 crore shares through an offer for sale (OFS).The IPO will remain open until November 4 and the company is expected to list on Dalal Street on November 10. The shares will be allocated to investors on November 6.Lenskart plans to use the proceeds from the new issue to set up new company-owned (CoCo) stores, spend on lease and rental agreements for these stores, and invest in technology, cloud infrastructure and brand marketing. The company has also set aside funds for potential inorganic acquisitions and general corporate purposes.
Lenskart IPO price band
It has a price band of Rs 382-Rs 402 per share, and is targeting a valuation of over Rs 69,700 crore at the top end.
Lenskart IPO GMP
According to ET, the entity’s gray market premium was Rs 70 per share. This indicates that the company’s shares could trade at around Rs 472, a premium of 17.41%.
Should you subscribe? This is what analysts say
SBI Securities has advised investors to buy in for the long term, pointing to Lenskart’s strong business model and its leadership in a market that has a lot of room to grow. According to the brokerage, while gains from the listing are limited, the company’s integrated supply chain, improved profitability metrics and strong brand strength will support longer-term growth.Ventura Securities has also given a “Subscribe” recommendation, describing Lenskart as a growth-led company. It cited the company’s technology-focused strategy, AI-driven customer engagement and a payback period of less than a year for the store, adding that profitability is expected to increase as the company expands into other regions.According to ET, Nirmal Bang acknowledged that the IPO may initially seem expensive, but the valuation holds up compared to modern retail companies such as Trent and Metro. The brokerage maintained a Subscribe (long term) stance, citing Lenskart’s brand strength, premium product mix and international expansion plans.The company’s market debut follows a strong reaction in the anchor book. On Thursday, Lenskart received bids worth around Rs 68,000 crore from key investors, people familiar with the matter told PTI. The offer amount was almost 10 times the total issue size of Rs 7,278 crore and almost 20 times the anchor allotment of Rs 3,268 crore. Prior to the IPO, SBI Mutual Fund invested Rs 100 crore, while Avenue Supermarts (DMart) founder Radhakishan Damani invested around Rs 90 crore.About the entity: Founded in 2008, Lenskart started as an online platform in 2010 and opened its first physical store in New Delhi in 2013. It now operates an omnichannel model, offering prescription glasses, sunglasses and contact lenses in metro, tier-1 and tier-2 cities, and has expanded internationally into Southeast Asia and the Middle East.Network: The company designs, manufactures, brands and sells eyewear through operations in Bhiwadi and Gurugram, supported by regional hubs in Singapore and the UAE. Lenskart has added 847 stores since FY23, taking its network to 2,806 outlets by June 2025, 2,137 in India and 669 abroad.Financial figures: According to ET, the company’s revenue rose over 32% annually to Rs 6,652.5 crore, while EBITDA rose 93.4% to Rs 971.1 crore, with margins improving from 6.9% in FY23 to 14.6% in FY25. Lenskart posted a net profit of Rs 297.3 crore in FY25, compared to a net loss of Rs 63.8 crore in FY23, although profits were helped by one-time gains.Market share: Lenskart has an estimated market share of 4-6% in the Indian eyewear market, but faces competition in a sector that Redseer says remains 77% unorganized, leaving the company with large opportunities and a highly fragmented market. According to Redseer, Lenskart was the largest seller of prescription eyewear in India by volume in FY25.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These views do not represent the views of The Times of India)
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