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Lenskart Solutions Limited is a technology-driven, vertically integrated eyewear company that designs, manufactures, distributes, and retails its own brands. Operating an omnichannel model, Lenskart combines its extensive online presence through its website and mobile apps with a large network of physical stores across India, Southeast Asia, Japan, and the Middle East. Its brand portfolio includes Lenskart, Owndays, John Jacobs, and Vincent Chase, catering to a wide range of customers with products from affordable to premium segments. The company leverages technology and AI for customer experience, manufacturing, and supply chain management to provide quality eyewear at accessible prices.
Opening Date
Oct 30, 2025
Closing Date
Nov 03, 2025
Listing Date
Nov 09, 2025
IPO Type
Mainboard
IPO Status
Open
Issue Size
7278.02 Cr
Fresh Issue
2150 Cr
Offer for Sale
5128.02 Cr
Price Band
₹382 - ₹402
Lot Size
37
The main objectives of the issue are to utilize the net proceeds for the following purposes:
Funding capital expenditure towards the set-up of approximately 620 new Company-Owned, Company-Operated (CoCo) stores across India to deepen market penetration and expand customer access.
Financing expenditure for lease, rent, or license agreement-related payments for the new CoCo stores to be operated by the company in India.
Investing in technology and cloud infrastructure to enhance customer experience, drive operational efficiencies, and support long-term profitability through AI tools and automation.
Funding brand marketing and business promotion expenses to strengthen brand awareness and equity for Lenskart and its sub-brands across domestic and international markets.
Funding unidentified inorganic acquisitions and general corporate purposes to support growth strategies, which may include acquiring complementary businesses, assets, or technologies.
P/E Ratio
18.03
EPS
21.43
ROE
4.84%
ROCE
13.84%
RONW
4.84%
Debt to Equity Ratio
—
PAT Margin
3.65%
EBITDA Margin
14.6%
P/B
11.03
Vertically integrated model with a centralized supply chain and in-house manufacturing, enabling cost efficiency and quality control.
Robust omnichannel retail network combining a large physical store footprint with a strong online presence.
Strong brand portfolio including Lenskart, Owndays, and John Jacobs, catering to diverse customer segments.
Technology-first approach leveraging AI for customer experience, store location selection, and operational efficiency.
Significant reliance on manufacturing facilities and raw material imports from China, posing supply chain and geopolitical risks.
Dependence on franchisee-operated stores, which allows for less direct operational and brand control.
History of incurring losses and negative cash flows from investing and financing activities in past financial years.
High dependence on key promoters and senior management for strategic direction and business continuity.
Large untapped market with low eyewear penetration in India, Southeast Asia, and the Middle East.
Growing trend of eyewear being adopted as a fashion and lifestyle accessory, increasing purchase frequency.
Continued shift in the retail market from unorganized to organized players, creating room for market share growth.
Expansion into new international markets and deepening presence in existing ones through organic and inorganic growth.
Intense competition from a large, fragmented unorganized retail sector and other organized players.
Advancements in medical procedures like LASIK and SMILE surgery that may reduce long-term demand for corrective eyewear.
Potential disruptions in global supply chains and adverse changes in international trade policies, especially concerning China.
Evolving data protection laws and other regulations across multiple jurisdictions that could increase compliance costs and operational complexities.
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