Lenskart IPO: Check IPO Date, Live Subscription and Key Details
Lenskart Solutions Limited, founded in 2008, is a tech-led eyewear company and one of Asia’s two largest organized eyewear retailers by B2C sales volume in FY25. The company is involved in designing, manufacturing, branding, and selling eyewear products, including prescription glasses, sunglasses, contact lenses, and accessories, all under its own brands. Lenskart operates a successful omnichannel network of mobile apps (over 100 million downloads) and 2,806 stores worldwide (2,137 in India). It boasts a vertically integrated model, strong in-house R&D, and manufacturing capabilities, allowing for a direct-to-consumer approach. In FY25, Lenskart served nearly 10 million customers in India and achieved a net profit of ₹297.34 crore, reversing previous losses.
Price Range
₹382.0 - ₹402.0
Issue Size
₹7,278 Crore
Lot Size
37 shares
IPO Type
Mainboard
GMP
₹51(+12.69%)
Est. Listing Price
₹453
Invisible
-
Invisible
-
Key Metrics
Check Live GMP
Face Value
₹2
EPS
1.77
P/E Ratio
227.27
RoNW
4.84%
ROE
4.79%
Debt to Equity
0.06
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Timeline
IPO Opens
31 Oct
IPO Closes
4 Nov
Allotment
6 Nov
Listing
10 Nov
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 31 October 2025 | Subscription starts |
| IPO Close Date | 4 November 2025 | Subscription ends |
| Allotment Date | 6 November 2025 | Allotment |
| Listing Date | 10 November 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,874 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,362 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,08,236 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,96,558 |
BHNIAbove ₹10,00,000 | 68 | ₹10,11,432 |
IPO 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 the Company, in India.
- Investing in technology and cloud infrastructure.
- Brand marketing and business promotion expenses for enhancing brand awareness.
- Unidentified inorganic acquisitions and general corporate purposes.
Strengths
- The company uses a centralized supply chain and vertically integrated manufacturing, covering design to retail, ensuring cost efficiency and high gross margins (around 70%).
- It is the largest seller of prescription glasses in India and one of Asia's two largest organized eyewear retailers, holding a strong market leadership position.
- The business operates a D2C model combined with an expanding omnichannel network, featuring a highly-rated mobile app and over 2,800 global stores.
- The company uses a technology-first approach, employing AI and virtual try-ons to significantly enhance customer experience and operational efficiency.
- It achieved a strong financial turnaround to net profitability (₹297.34 Cr PAT) in FY25, and maintains high customer retention (98% repeat purchases).
Weaknesses
- The high P/E ratio of 227x (pre-IPO) is significantly higher than peers, indicating a very aggressive valuation that relies heavily on projected exponential growth.
- A significant portion of IPO proceeds (₹591.44 Cr) is earmarked for store lease/rent payments, highlighting substantial fixed and non-flexible operating costs.
- The company's aggressive store rollout strategy presents significant execution and execution risks, requiring continuous capital deployment.
- The business is vulnerable to intense competition from both traditional opticians and major organized players, requiring constant marketing spend.
- There is a high reliance on a few large institutional investors (SoftBank, Temasek, KKR) for historical funding, though the current OFS allows for their exit.
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Financial Performance
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 10,845.68 | 10,471.02 | 9,531.02 | 9,528.28 |
| Revenue (₹ Cr.) | 1,946.1 | 7,009.28 | 5,609.87 | 3,927.97 |
| PAT (₹ Cr.) | 61.17 | 297.34 | -10.15 | -63.76 |
| Net Worth (₹ Cr.) | 6,176.87 | 6,108.3 | 5,642.38 | 5,444.48 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Lenskart Solutions Ltd. | 11.03 | 227.27 | 4.84% | 6,176.87 |
| Titan Company (Eyecare) | 28.37 | 88.83 | 28.71% | 11,624 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.42x | 1.64x | 4.16x |
| NII | 0.41x | 1.89x | 6.27x |
| S-HNI | 0.63x | 2.38x | 4.69x |
| B-HNI | 0.3x | 1.64x | 7.06x |
| RII | 1.32x | 3.35x | 4.85x |
| EMP | 1.1x | 2.62x | 3.57x |
| Total | 1.13x | 2.02x | 4.85x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 5,41,87,724 | 22,53,58,120 | 9,059.4 |
| NII | 2,70,98,027 | 16,99,11,770 | 6,830.45 |
| Small NII | 90,32,676 | 4,24,07,587 | 1,704.78 |
| Big NII | 1,80,65,352 | 12,75,04,183 | 5,125.67 |
| RII | 1,80,65,352 | 8,75,77,890 | 3,520.63 |
| EMP | 3,91,645 | 13,97,416 | 56.18 |
| Total | 9,97,42,748 | 48,42,45,196 | 19,466.66 |
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Company Details
- Lenskart Solutions Ltd.
- Plot No. 151, Okhla Industrial Estate, Phase III, Delhi, -110020
- +91 124 429 3191
- compliance.officer@lenskart.co
- https://www.lenskart.com
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- lenskart.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html