Lenskart Solutions is entering the public markets through Mainboard IPO with an issue size of ₹7,278.02 crore. The issue consists of a fresh issue of ₹2,150.00 crore and an offer for sale of ₹5,128.02 crore. The shares are proposed to be listed on NSE & BSE.
The IPO subscription window opens on October 31, 2025 and will remain open until November 4, 2025. The company plans to list its shares on November 10, 2025. Since this is a Mainboard IPO, participation is expected from a wide range of investors.
The book-running lead managers for the Lenskart Solutions IPO are Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services. The registrar for this IPO is MUFG Intime India Private Limited.
Lenskart Solutions Limited IPO Timeline
IPO Listing Snapshot
This snapshot provides a quick view of the IPO status, pricing levels, and indicative performance.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed | ₹402 | ₹395 | ▼ -1.74% |
IPO Quick Facts
This section covers the main IPO details of Lenskart Solutions that investors generally review before applying.
IPO Details at a Glance
| Company Name | Lenskart Solutions |
|---|---|
| IPO Segment | Mainboard |
| Sale Type | Fresh Issue + Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Price | ₹382 – ₹402 Per Share |
| Lot Size | 37 Shares |
| Face Value | ₹2 Per Share |
| Exchange | NSE & BSE |
| Pre-Issue Shareholding | 1,681,015,590 shares |
| Post-Issue Shareholding | 1,734,511,495 shares |
IPO Documents
| RHP | DRHP | Prospectus |
|---|---|---|
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Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 135,504,020 | 74.84% |
| — Anchor Investor | 81,302,412 | 44.90% |
| — QIB (Ex Anchor) | 54,201,608 | 29.94% |
| NII (HNI) | 27,100,803 | 14.97% |
| — bNII > ₹10L | 18,067,202 | 9.98% |
| — sNII < ₹10L | 9,033,601 | 4.99% |
| Retail | 18,067,202 | 9.98% |
| Employee Reservation | 391,644 | 0.22% |
| Total Shares Offered | 181,063,669 | 100.00% |
List of Book Running Lead Managers
| Lead Managers | Contact Person | Contact Details |
|---|---|---|
| Kotak Mahindra Capital Company Limited | Ganesh Rane | E-mail: lenskart.ipo@kotak.com Tel: +91 22 4336 0000 |
| Morgan Stanley India Company Private Limited | Naresh Tetarwal | E-mail: lenskartipo@morganstanley.com Tel: +91 22 6118 1000 |
| Avendus Capital Private Limited | Sarthak Sawa / Sneha Roy | E-mail: lenskart.ipo@avendus.com Tel: +91 22 6648 0050 |
| Citigroup Global Markets India Private Limited | Anjali Kolathu Sureshkumar | E-mail: lenskart.ipo@citi.com Tel: +91 22 6175 9999 |
| Axis Capital Limited | Jigar Jain | E-mail: lenskart.ipo@axiscap.in Tel: +91 22 4325 2183 |
| Intensive Fiscal Services Private Limited | Harish Khajanchi / Anand Rawal | E-mail: lenskart.ipo@intensivefiscal.com Tel: +91 22 2287 0443 |
IPO Registrar
| Registrar Name | Contact Person | Contact Details |
|---|---|---|
| MUFG Intime India Private Limited | Shanti Gopalkrishnan | E-mail: lenskart.ipo@in.mpms.mufg.com Tel: +91 81081 14949 |
Lenskart Solutions IPO Important Dates
The following table highlights the key dates for the Lenskart Solutions IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 31 Oct 2025 |
|---|---|
| IPO Closing Date | 04 Nov 2025 |
| Allotment Finalization | 06 Nov 2025 |
| Initiation of Refunds | 07 Nov 2025 |
| Credit of Shares | 07 Nov 2025 |
| IPO Listing Date | 10 Nov 2025 |
Lenskart Solutions IPO Size
| Total IPO Size | ₹7,278.02 Crore |
|---|---|
| Offer For Sale | ₹5,128.02 Crore |
| Fresh Issue | ₹2,150.00 Crore |
Lenskart Solutions IPO Discount Details
Below are the discount details available for different investor categories in the Lenskart Solutions IPO. The effective price after discount is calculated on the upper price band.
| IPO Price (Upper Band) | ₹402 |
|---|---|
| Employee Price | ₹383 (₹19 discount) |
Lenskart Solutions IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Lenskart Solutions IPO, calculated using the cut-off price. The price band for this IPO ranges from ₹382 to ₹402 per share.
Note: Retail investors generally apply at the cut-off price, which is ₹402 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹402 | ₹14,874 |
| Retail (Max) | 13 | 481 | ₹402 | ₹193,362 |
| S-HNI (Min) | 14 | 518 | ₹402 | ₹208,236 |
| S-HNI (Max) | 67 | 2,479 | ₹402 | ₹996,558 |
| B-HNI | 68 | 2,516 | ₹402 | ₹1,011,432 |
IPO Financial Analysis
- Revenue from operations changed by 22.57% compared to the previous financial year.
- EBITDA changed by 44.49% compared to the previous financial year.
- Profit after tax (PAT) turned positive in FY 2025, moving from -11.00 to 297.00.
- EBITDA margin changed by 17.93% compared to the previous financial year.
- PAT margin turned positive in FY 2025, moving from -0.20 to 4.46.
- Total assets changed by 9.86% compared to the previous financial year.
- Net worth changed by 8.26% compared to the previous financial year.
- Total borrowings changed by -30.42% compared to the previous financial year.
- Operating cash flow changed by 152.57% compared to the previous financial year.
| Category | Metric | 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|---|---|---|---|---|
| Growth | Revenue from Operations (₹ Cr) | 1,894.00 | 6,653.00 | 5,428.00 | 3,788.00 |
| Profitability | EBITDA (₹ Cr) | 337.00 | 971.00 | 672.00 | 260.00 |
| PAT (₹ Cr) | 61.00 | 297.00 | -11.00 | -64.00 | |
| Efficiency / Margins | EBITDA Margin (%) | 17.70 | 14.60 | 12.38 | 6.86 |
| PAT Margin (%) | 3.22 | 4.46 | -0.20 | -1.69 | |
| Return Ratios | ROCE (%) | 3.58 | 13.84 | 5.08 | -0.48 |
| Balance Sheet Strength | Assets (₹ Cr) | 10,845.68 | 10,471.02 | 9,531.02 | 9,528.28 |
| Net Worth (₹ Cr) | 6,176.87 | 6,108.30 | 5,642.38 | 5,444.48 | |
| Reserves & Surplus (₹ Cr) | 5,855.43 | 5,795.00 | 5,466.50 | 5,411.96 | |
| Leverage | Total Borrowings (₹ Cr) | 335.48 | 345.94 | 497.15 | 917.21 |
| Cash Flow Quality | Operating Cash Flow (₹ Cr) | 283.00 | 1,230.00 | 487.00 | 95.00 |
Lenskart Solutions IPO Promoter Holding
| Promoter(s) | Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi |
|---|---|
| Pre-Issue Holding | 19.85% |
| Post-Issue Holding | 17.52% |
Lenskart Solutions Company Overview
Lenskart Solutions Ltd., established in 2008, is a technology-focused eyewear company involved in the design, manufacturing, branding, and retail of prescription eyeglasses, sunglasses, contact lenses, and accessories. India serves as its primary market, and as per the Redseer Report, the company recorded the highest volume of prescription eyeglasses sold in India during FY 2025.
Operating under a direct-to-consumer model, the company offers a broad range of eyewear under its own brands and sub-brands, catering to all age groups and price segments. In FY 2025, 105 new collections were launched, including collaborations with well-known brands and personalities.
- Centralized supply chain and in-house manufacturing
- In-house frame and lens engineering
- Direct-to-consumer approach
- Customer-centric product design
- Owned eyewear brand portfolio
- Technology-led operations and retail experience
- Omnichannel retail presence
- Multi-year revenue and EBITDA growth trajectory
- High dependence on India for revenue; limited international contribution so far.
- Faces intense competition from online and offline eyewear players.
- Incurred losses in FY23 and FY24; profitability depends on scaling.
- Subject to risks related to rapid expansion and supply chain management.
- Relies on continuous tech investment; any disruption may affect operations.
Registered office: Plot No. 151, Okhla Industrial Estate, Phase III, New Delhi–110020, Delhi, India
- Phone: +911244293191
- E-mail:compliance.officer@lenskart.com
MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- lenskart.ipo@in.mpms.mufg.com
Lenskart Solutions IPO FAQs
The Lenskart Solutions IPO is a Mainboard Bookbuilding IPO with a total issue size of ₹7,278.02 crore.
The IPO will open for subscription on Fri, 31 Oct 2025 and will close on Tue, 04 Nov 2025.
The shares are being offered at a price band of ₹382 to ₹402 per equity share.
Investors can apply for the IPO with a minimum lot size of 37 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹14,874.
The shares of Lenskart Solutions are expected to be listed on NSE & BSE on Mon, 10 Nov 2025.
Each equity share in the IPO has a face value of ₹2.
The IPO consists of a Fresh Issue + Offer For Sale, where shares are being offered by existing shareholders.
How to Apply for Lenskart Solutions IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
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