Summary of this article
Lenskart IPO is scheduled to open on October 31
Lenskart IPO GMP ranged between Rs 64 to Rs 80
Lenskart IPO seeks to raise Rs 7,278.02 crore via its public issue
Lenskart Solutions IPO GMP: Eyewear retailer Lenskart Solutions India's public issue is scheduled to open for bidding on October 31. The subscription window for Lenskart Solutions IPO is scheduled to close on November 4. The grey market premium of the eyewear manufacturer moderated on October 29.
Before the subscription window opens, here's a look at some of the details of the eyewear retailer's peers, financials, strengths and risks before it opens for subscription:
Lenskart Solutions IPO GMP
Lenskart Solutions IPO GMP is ranging between Rs 64 to Rs 80 per share on October 29 according to multiple websites which monitor the movement of unlisted shares on the grey market. Based on the premium, shares of the eyewear company can list at Rs 482 apiece with potential listing gains of nearly 20 per cent.
Lenskart Solutions IPO: Offer Size and Key Dates
Lenskart Solutions IPO offers size aggregates to Rs 7,278.02 crore. The eyewear company's issue has a fresh issue component of 53.5 million shares amounting to Rs 2,150 crore and an offer-for-sale of 127.6 million shares aggregating to Rs 5,128.02 crore.
Lenskart Solutions IPO price band has been fixed at Rs 382 to Rs 402 per share. The minimum lot size to apply for Lenskart Solutions IPO for retail investors has been set at one lot consisting of 37 shares aggregating to a minimum investment of Rs 14,874.
The anchor investment round for Lenskart Solutions IPO will take place on October 30. The basis of allotment for Lenskart Solutions IPO is expected to be determined on November 6. Once the share allotment status of Lenskart Solutions IPO is decided, successful bidders will receive shares of Lenskart Solutions in their demat accounts on November 7. Lenskart Solutions' shares are slated to list on the BSE and NSE. Lenskart Solutions IPO listing date is November 10.
Lenskart Solutions: Key Financials
Lenskart Solutions Ltd's total income for the June quarter of FY25 stood at Rs 1,946.1 crore, the company's profit-after-tax stood at Rs 61.17 crore, and the company's net worth stood at Rs 6,176.87 crore.
Lenskart Solutions' total income increased by more than 24 per cent to Rs 7009.28 crore in the financial year ended March 31, 2025, compared to Rs 5609.87 crore in the preceding fiscal. The company's profit-after-tax for FY 2024-25 stood at Rs 297.34 crore compared to a net loss of Rs 10.15 crore in FY 2023-24.
Lenskart IPO: Pre IPO Investors
On October 29, SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF) cumulatively invested Rs 100 crore in Lenskart Solutions Ltd. The investment was made to acquire shares of the company from the selling promoters. Notably, Neha Bansal transferred 24,87,561 equity shares. The deal took place at a price of Rs 402 per share. Prior to the issue, Bansal held a 7.61 per cent stake in the company and now has 7.46 per cent.
Lenskart Solutions: Business Model
Lenskart Solutions Ltd stated in its RHP that it is a technology-driven eyewear company that designs, manufactures, markets, and retails eyewear products. The company's product portfolio includes prescription eyeglasses, sunglasses, and other products such as contact lenses and eyewear accessories. The company runs its business via a direct-to-consumer model, designing and selling eyewear products under its own brands.
Lenskart Solutions: Competitors
Lenskart Solutions cited a Redseer Report and mentioned in its RHP that 77 per cent of India's prescription eyeglasses market (in value terms) is led by small, unorganised opticians, as of Financial Year 2025. The company mainly competes with other large eyewear retailers in India. Some of the key competitors of Lenskart India include Eyegear Optics India Private Limited, Gangar Opticians Private Limited, GKB Opticals Limited, Lawrence and Mayo (India) Private Limited, Specsmakers Opticians Private Limited, and Titan Company Limited (Eyecare division). The company also faces indirect competition from global lens companies such as Hoya Corporation and Carl Zeiss AG, amongst others.
Lenskart Solutions IPO: Risks and Strengths
Lenskart Solutions' business faces these risks as per the company's RHP:
Lenskart stated in its RHP that it manufactures some of its frames in the People's Republic of China and also imports some of its raw materials through Baofeng Framekart Technology Ltd, its joint venture. Thus, any disruption in the region which can affect the supply of raw materials and frames can negatively affect the company.
Lenskart said in its RHP that it does not exercise complete operational or financial control over its franchisee-operated retail stores. Thus, the company's franchisees may take actions that are inconsistent with the brand standards, operational policies, or strategic objectives. Such actions can affect the business negatively.
The eyewear retailer stated that the recent medical advancements in the eyecare industry may adversely affect the demand for eyewear products, especially advancements in laser-assisted in situ keratomileusis (LASIK) and small incision lenticule extraction ("SMILE") surgeries.
Here's a look at some of the key strengths of Lenskart Solutions according to the company's RHP:
Lenskart Solutions claims that it has a centralised supply chain, which enables it to deliver consistent quality at scale, achieve lower raw material and manufacturing costs, and enable faster delivery of products.
The company added that it has customer-focused product design capabilities. The company has increased its new product development to 105 new collections across its markets during the Financial Year 2025.
The eyewear retailer claims that its brand appeals to customers across price segments, with 18.13 per cent of sales stemming from products with a transaction value of Rs 2,000 and 18.14 per cent from products with a transaction value above Rs 10,000.
Lenskart Solutions IPO: Objective
Lenskart Solutions seeks to use the public issue proceeds to set up new co-owned, co-operated stores in India. A portion of the proceeds will also be used to establish lease agreements for the stores. The public issue proceeds will also be used to set up a technology and cloud infrastructure, brand marketing, and business promotion expenses to enhance brand awareness and inorganic acquisitions.
