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  1. Lenskart Solutions IPO
Lenskart Solutions IPO
28.21xsubscribed

Lenskart Solutions IPO

Retailing
listed
₹14,134Min. investment

Lenskart Solutions Limited IPO Details

SectorRetailing
Price range₹382 – ₹402
IPO type
Regular
Lot size37 shares
Issue size₹7,278Cr
Draft Red Herring Prospectus
Read
Market cap
₹69,726CrHigher than sector avg
RevenueApr 2024 - Mar 2025
₹6,652CrHigher than sector avg
Growth rate3Y CAGR
32.52%Higher than sector avg

Lenskart Solutions IPO Subscription Status

Date
QIB
NII
Retail
Total
31-Oct-25
0.58 times (X)
0.41 times (X)
1.33 times (X)
1.13 times (X)
03-Nov-25
0.64X
1.86X
3.36X
2.02X
04-Nov-25
23.79X
18.03X
7.37X
28.21X

As on 31-Oct-25, 5:30 PM

Lenskart Solutions IPO Timeline

  1. Pre-apply
    28 Oct 2025
  2. Bid start
    31 Oct 2025
  3. Bid end
    4 Nov 2025
  4. Allotment
    6 Nov 2025
  5. Release of funds
    7 Nov 2025
  6. Demat transfer
    7 Nov 2025
  7. Listing
    10 Nov 2025

About Lenskart Solutions Limited

Lenskart Solutions is a technology-driven eyewear company with fully integrated operations across design, manufacturing, branding, and retailing of prescription eyeglasses, sunglasses, and contact lenses. It follows a D2C business model, selling the products under its own brands and sub-brands through both online and offline platforms.
The company commenced its operations in India as an online business in 2010 and opened its first retail store in New Delhi in 2013. Over the years, Lenskart Solutions has expanded its operations to Japan, Southeast Asia, the Middle East and other international markets. It is India's biggest organised retail seller of prescription eyewear and among the top 2 organised eyewear retailers in Asia according to B2C eyeglass sales volume in FY25.
Lenskart has a strong omnichannel retail network of 2,806 stores across the world (2,137 in India and 669 globally) with a total store footprint of 1.73 msf as of June 30, 2025. Its mobile apps had over 10 crore cumulative downloads along with a growing base of 1.24 crore annual transacting customer accounts with a 2-year repeat purchase rate of 3.62 eyeglasses per customer, 2x the Indian average of 1.8 eyeglasses.
The company operates a centralised and automated supply chain, with manufacturing facilities in Bhiwadi (Rajasthan) and Gurugram (Haryana), supported by regional units in Singapore and the UAE. Its Bhiwadi plant, one of the world's top 2 vertically integrated eyeglass manufacturing capacities, is 75% automated, which facilitates next-day delivery in 58 Indian cities. The company produces almost 70% of prescription eyeglasses in-house, with cost savings of 35–40% compared to usual retail stores, and with a 75% centralised inventory.
Lenskart Solutions' international expansion gained momentum after the acquisition of Owndays in 2022, which strengthened its presence in Japan and Southeast Asia. Together, Lenskart and Owndays operate across 14 countries, selling over 2.7 crore eyewear units collectively in FY25. Lenskart's innovation-driven model is also driven by technology and artificial intelligence. It has a 491-person strong technology team and applies AI-driven facial analysis, frame recommendation software, geo-analytic for store growth, and remote optometry services. It performed 1.35 crore eye tests and 0.26 crore eye tests outside India in FY25.
The company’s brand portfolio includes premium and affordable segments through John Jacobs, Owndays, Lenskart Air, Vincent Chase, hustlr, and Hooper Kids, with prescription eyeglasses accounting for more than 80% of its revenue from operations. In December 2024, it launched its affordable smart glasses category through “Phonic”, audio-enabled smart eyeglasses, in India. Lenskart was awarded “India’s Most Trusted Eyewear Brand 2025” by TRA Research in FY25. Its paid loyalty program, Lenskart Gold, had 0.71 crore members as of June 2025.
The global eyewear market, valued at ~₹15.2 lakh crore in FY25, is anticipated to grow to ~₹ 18.6 lakh crore by FY30. Asia accounts for 29-37% of the world's eyewear market as of FY25, and rising markets like India and Southeast Asia are estimated to be the quickest growing markets, with their organised eyewear market estimated to grow at ~19% and 10-14% respectively between FY25-FY30. This growth is fueled by heightened awareness of the prevalence of refractive errors, enhancing the affordability of prescription eyeglasses, and the increasing presence of organised players.
Lenskart is strategically positioned to capture the eyewear market expansion with operations across 14 countries and 669 international stores and regional facilities in Singapore and the UAE. The company’s focus remains on increasing market penetration, expanding customer access, innovating new product portfolios and enhancing customer experience.
Now, Lenskart Solutions Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹2,150 and an offer for sale of ₹5,128.02 crore. The total issue size of the IPO is ₹7,278.02 crore. Its shares will be listed on the NSE and BSE.

Lenskart Solutions Limited IPO Analysis

IPO REVIEW

Lenskart Solutions IPO | Analysis Video

Should you apply?

Watch our analysts break down the Lenskart Solutions Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

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Strength and Weakness

Centralised supply chain

Lenskart’s fully centralised prescription eyewear supply chain enables faster delivery, cost efficiency, and consistent product quality at scale. Its robotic lens edging systems can process up to 27 eyeglasses per minute, ensuring micron-level precision and reliability. As of June 30, 2025, it offered 79,000+ SKUs and achieved next-day delivery across 58 Indian cities, making it the only eyewear player to do so at scale. The centralised model has also reduced material costs by 35–40% versus traditional retailers.

Integrated manufacturing capabilities

The company’s in-house frame and lens manufacturing facilities across Gurugram and Bhiwadi allow greater control over design, quality, and cost. By producing complex lens types and signature ranges like Lenskart AIR, it minimises dependency on external suppliers.

Strong direct-to-consumer (D2C) model

Lenskart’s D2C approach eliminates multiple intermediaries in the eyewear value chain, offering affordable pricing and faster delivery while retaining end-to-end quality control. Lenskart achieved greater cost efficiency compared to conventional eyewear retailers and was ranked as the third-largest manufacturer of prescription eyeglasses globally among major organised retailers in FY25.

Technology-driven operations

With a 491-member tech team, Lenskart leverages AI and automation across its operations, from virtual try-ons (3.86 crore in FY25) to warehouse management and AI-enabled store analytics. 80.8% of new CoCo stores achieved payback in just 10.3 months (FY24–25), highlighting efficient site selection through AI-led forecasting. Digitised eye-testing and remote optometry, with 164 optometrists conducting remote eye tests for customers at 298 stores in India, further expand accessibility across India and Asia.

Omnichannel retail network

The company’s hybrid model of apps, websites, and 2,806 stores (2,137 in India and 669 overseas) ensures seamless customer journeys and consistent pricing. Stores generated ₹23,492.5 revenue per sq. ft. in FY25, the highest among large organised eyewear retailers in India. Further, nearly 44.82% of FY25 India revenue came from customers who engaged digitally before purchase.

Objectives of Lenskart Solutions Limited IPO

General corporate purposes
35.20%
Part of the IPO proceeds will be used for general corporate purposes and unidentified acquisitions
Funds for lease and rent payment
27.50%
₹591.44 crore allocated for store lease/rent/license payments.
Brand marketing and business promotion
14.80%
The company will utilise ₹320.06 towards brand marketing and business promotion expenses.
Capital expenditure
12.60%
₹272.62 crore will be used to set up new CoCo stores in India.
Investment in technology
9.90%
The company will utilise ₹213.37 crore towards investing in technology and cloud infrastructure.

Compare

CompanyRevenue*3Y growthMarket capP/E ratio
This IPO₹6,652Cr32.52%₹69,726Cr227.12
This sector (avg.)₹1,764.49Cr0.01%₹11,364.76Cr36.95
₹59,358.05Cr---₹2,40,088Cr84.02
₹17,134.61Cr---₹1,34,569.8Cr82.96
₹10,716.35Cr---₹58,856.47Cr75.76

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Lenskart Solutions IPO Contact Details

Company NameLenskart Solutions Limited

How to apply for Lenskart Solutions IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Latest News on Lenskart Solutions Limited IPO

Lenskart Solutions Limited IPO FAQs

Investors can apply for the Lenskart Solutions IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Lenskart Solutions IPO is 7278 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Lenskart Solutions IPO will be open between 2025-10-31 and 2025-11-04.
Lenskart Solutions IPO allotment date is 2025-11-07. For Lenskart Solutions IPO allotment status check, you can visit the website of the registrar of the IPO.
For Lenskart Solutions IPO, the IPO registrar is MUFG Intime India Private Limited. You can check Lenskart Solutions IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Lenskart Solutions IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Lenskart Solutions IPO lot size is 37 and minimum order quantity is 37.
Lenskart Solutions IPO has set the price band for its IPO at 402 per equity share with a face value of 2.