Lenskart IPO: What investors should know about strengths, risks and finances

Lenskart IPO: The ₹7,278.02 crore initial public offering of eyewear retailer Lenskart Solutions is all set to open for subscription on Friday, October 31. The issue will conclude on November 4. The company's maiden initial share sale comprises a fresh issue of shares amounting to ₹2,150 crore and an offer-for-sale (OFS) of ₹5,128.02 crore by promoters and investors. With the price band set at ₹382 to ₹402 per share, a lot consists of 37 shares.

As the Lenskart IPO is just two days away, here's a look at its strengths, risks and finances.

• Lenskart Solutions' centralised prescription eyeglasses supply chain and manufacturing allows the company to manage supply chain operations and address customer demand for each store location.
• The company manufactures a wide range of frames and complex lens types, including progressive and bifocal lenses, in-house.
• It operates a direct-to-customer model, eliminating multiple layers of intermediaries in the traditional prescription eyeglasses supply chain. This allows the company to offer products at an affordable cost.
• Lenskart has developed holistic design and merchandising capabilities, including in-house designs and frame moulds, which it uses to manufacture frames in-house. It enables the company to exercise substantial design innovation to meet customer needs and drive purchasing frequency.

Lenskart IPO: Risks

• Raw materials form a substantial portion of Lenskart Solutions' total expenses, with 24.52% in FY25 and 25.45% as of June 30, 2025. The company’s revenue is sensitive to fluctuations in raw material prices, including acetate sheets, blank lenses and metal frames.
• The company sources some of its raw materials and frames from China, where it also operates a manufacturing plant through Baofeng Framekart Technology, its joint venture. Any interruption in the supply of such frames or raw materials can affect the company's business and financial condition.
• The company's manufacturing facilities operated at a capacity utilisation of 55.10% as of June 2025. An inability to fully utilise available capacity can impact the business.
• Lenskart's omnichannel model depends heavily on physical retail stores. As of June 2025, it operated 2,806 stores globally, including 2,137 stores in India. Any slowdown in store-level sales, higher rent, or demographic shifts leading to a decline in footfall could impact store profitability.

Lenskart IPO: Financials

Lenskart IPO GMP