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Domestic eyewear brand Lenskart opened its highly anticipated ₹7,278 crore initial public offering (IPO) for subscription on Friday, October 31. Supported by global investors such as SoftBank, Kedaara Capital, and Alpha Wave Ventures, the issue has drawn significant attention.
The IPO comprises a fresh issue of ₹2,150 crore and an offer for sale (OFS) worth ₹5,128 crore by existing shareholders and promoters.
Prominent investors, including SoftBank’s SVF II Lightbulb (Cayman), Kedaara Capital, and Alpha Wave Ventures, will dilute part of their holdings. Founders Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary will also sell a small fraction of their shares.
Ahead of the official opening, The Lenskart IPO has been actively discussed in the grey market, where shares are trading at a premium of around ₹108.
As of October 31, the grey market premium stands at approximately ₹72 — around 18% higher than the upper end of the IPO price band. However, it is essential to remember that GMP is only an indicator and may fluctuate based on investor sentiment and subscription levels during the bidding period.
The IPO opens on October 31 and will remain available for bidding until November 4. The price band has been set at ₹382–₹402 per share, with a lot size of 37 shares.
Retail investors can start with a minimum investment of ₹14,874 and can apply for up to 13 lots (481 shares), amounting to ₹1.93 lakh. The basis of allotment will be announced on November 6, and the shares are likely to be listed on both BSE and NSE on November 10.
Funds raised through the fresh issue will be directed towards expanding retail stores, upgrading technology, and strengthening brand marketing.
The company also plans to utilise part of the proceeds to repay rental obligations, pursue acquisitions, and enhance its presence in offline and international markets, especially in Southeast Asia and the Middle East.
Founded in 2008 as an online eyewear platform, Lenskart has evolved into a major omnichannel retailer. Lenskart clocked Rs 6,653 crore in revenue in 2024-25 (FY25) and turned profitable (Rs 297 crore) for the first time.
Since opening its first brick-and-mortar store in 2013, the company has rapidly expanded across Tier-1 and Tier-2 cities, blending online convenience with offline accessibility. Today, it serves lakhs of customers in India and overseas through 472 stores.
