Peyush Bansal-led eyewear retailer Lenskart Solutions Limited is aiming for a post-money valuation of around Rs 70,000 crore ($7.97 billion) for its upcoming IPO at the higher end of the price band. Backed by investors such as SoftBank, ADIA, and Temasek, the company is expected to file its red herring prospectus soon and plans to open the issue for public subscription on October 31, November 3, and November 4, with the anchor portion slated for October 30. Dates may shift slightly depending on RoC approval.
The total size of the IPO, factoring in pre-IPO rounds, is likely to range between Rs 7,250 crore ($826 million) and Rs 7,350 crore ($837 million), with strong demand anticipated from domestic and global anchor investors. As per the draft red herring prospectus filed in July, Lenskart plans to raise Rs 2,150 crore via fresh issuance, while promoters and investors intend to sell 13.22 crore shares. Fresh proceeds will fund 620 new stores, lease deposits, technology and AI-led fulfillment upgrades, and brand marketing.
Lenskart posted a net profit of Rs 297.3 crore in FY25, up from a Rs 10.2 crore loss in FY24, with revenues rising 23% YoY to Rs 6,652.5 crore and gross margins improving to 69%. The company operates 2,723 stores globally, with plans to add 450 stores in FY26, leveraging robotic lens labs, centralized supply chains, and AI-driven operations for next-day delivery in 40 cities.
