Lenskart Solutions Ltd. logo

Lenskart Solutions Ltd.

LENSKART

Equity

BSE,NSE

Min. Investment :

₹3,82,000.00

IPO Details

Bidding Dates

31 Oct 25-04 Nov 25

Price Range ₹

382 -402

Total Equity

₹ 4010.40Cr

Lot Size

37

Exchange Status

BSE,NSE

Subscription Rate

Non-Institutional Investor

7.53×

Qualified Institutional Buyers

40.35×

Employees

4.96×

Retail Investors

7.53×

Total subscription Rate

28.26×

IPO Timeline

About Company

Lenskart Solutions Ltd., founded in 2008, is India’s leading technology-driven eyewear company engaged in the design, manufacturing, branding, and retailing of prescription eyeglasses, sunglasses, contact lenses, and related accessories. It primarily operates in India but has expanded globally with a growing international footprint. The company follows a direct-to-consumer (D2C) model, selling eyewear through both online and offline channels. By March 31, 2025, it operated 2,723 stores worldwide, including 2,067 in India and 656 overseas, with a mix of company-owned and franchised stores. Lenskart has leveraged technology across its supply chain, retail, and customer service, offering remote eye testing in select regions and ensuring fast delivery (next-day in 40 cities) through its centralized manufacturing facilities in Bhiwadi and Gurugram. The IPO aims to raise funds primarily for store expansion, technology upgrades, brand marketing, and strategic acquisitions. The proposed market capitalization is ₹69,726.83 crore, with a post-issue P/E ratio of 284.96x, indicating high investor expectations for sustained growth.

Year Founded

19-05-2008

Promotor Details

Peyush Bansal

Offer to Public

9,97,61,257.00 Cr

Promoter Holdings Details

ParticularPre-IPOPost-IPO

Percentage

19.9

17.57

Share Capital

334519726

304795727

Project Details

Capital expenditure towards set-up of new CoCo stores in India -2726.22cr

Expenditure for lease/rent/license agreements related payments for our CoCo stores operated by -5914.4cr

Investing in technology and cloud infrastructure -2133.75cr

Brand marketing and business promotion expenses for enhancing brand awareness -3200.63cr

Unidentified inorganic acquisitions and general corporate purposes -6831.25cr

Objectives

¢ Capital expenditure towards set-up of new CoCo stores in India

¢ Expenditure for lease/rent/license agreements related payments for our CoCo stores operated by our Company in India

¢ Investing in technology and cloud infrastructure

¢ Brand marketing and business promotion expenses for enhancing brand awareness

and¢ Unidentified inorganic acquisitions and general corporate purposes.

Highlights

Lenskart is India’s most recognized eyewear brand, commanding leadership in both online and offline optical retailing.

End-to-end control from production to delivery ensures quality, efficiency, and cost optimization.

Significant investments in AI, cloud infrastructure, and data analytics enhance customer experience and operational scalability.

Consistent revenue growth with a strong shift from losses to profitability indicates a maturing and sustainable business model.

A well-balanced presence across e-commerce, app, and physical stores, both domestic and international, provides diversification and resilience.

Challenges

The post-IPO P/E of nearly 285x suggests the stock is priced aggressively, leaving limited room for error in execution.

Despite overseas expansion, a major portion of revenue still comes from India, exposing it to domestic economic fluctuations.

Faces competition from both organized players (Titan Eye+, Specsmakers) and unorganized local opticians, which can impact pricing and margins.

Opening new company-owned stores (CoCo) requires significant investment and may affect near-term profitability.

Despite strong EBITDA growth, profit margins remain moderate due to marketing costs, rent, and technology investments.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS

2026

1,42,447.16

3,472.83

63.21

63.21

0.083

2022

36,999.90

301.57

63.21

63.21

0.083

2024

94,865.64

1,823.76

-2,639.32

-2,639.32

-13.6223

2025

1,03,895.51

3,214.34

-1,14,25,30,430.00

-1,14,25,30,430.00

-4.728

2023

94,622.39

325.23

63.21

63.21

0.083