Highlights
Lenskart IPO: Omnichannel Eyewear Retailer Files Red Herring Prospectus
Lenskart, the omnichannel eyewear retailer, submitted its Red Herring Prospectus (RHP) on October 25, 2025, in preparation for its initial public offering (IPO). The subscription window will be open from October 31 until November 4, 2025, while the bidding for anchor investors will commence on October 30.
Details of the IPO
According to the RHP, the Gurugram-based company aims to secure Rs 2,150 crore through a fresh issue, while existing stakeholders plan to sell up to 12.75 crore shares as part of an offer for sale (OFS). The size of the OFS has been adjusted to 12.75 crore shares from the previously proposed 13.22 crore shares in the Draft Red Herring Prospectus (DRHP), following co-founder Neha Bansal’s reduction of her share sale by 47.26 lakh shares.
From the 47.26 lakh shares that Neha Bansal opted to sell, 22.38 lakh shares were purchased by Shrikanta R. Damani, who is the wife of DMart founder Radhakishan Damani, at a price of Rs 402 per share, totalling Rs 90 crore. Other participants in the OFS will maintain the share quantities as stated in the DRHP. Notable shareholders such as SoftBank intend to offload 2.55 crore shares, followed by Schroders Capital with 1.91 crore shares, Premji Invest with 87 lakh shares, and Temasek offering 78.5 lakh shares. Additionally, Kedaara Capital and Alpha Wave plan to sell 73.6 lakh and 66.6 lakh shares respectively.
Stakeholder Contributions
Co-founder and CEO Peyush Bansal will be offering 2.05 crore shares, while other co-founders, Neha Bansal and Amit Chaudhary, will offload 10.1 lakh and 28.6 lakh shares respectively. Furthermore, Sumeet Kapahi, a key early member of the founding team, will also be parting with 28.6 lakh shares in the OFS.
Financial Overview
If the issue price is aligned at Rs 402 per share, Lenskart’s total IPO size could approximately reach Rs 7,278 crore, which is the same rate at which Neha Bansal sold shares to Shrikanta R. Damani prior to the RHP submission. The company intends to allocate Rs 272.6 crore from the fresh issue for establishing new CoCo stores, with an additional Rs 591.4 crore earmarked for lease and rental expenses. Moreover, Rs 213.37 crore will be directed towards enhancing technology and cloud frameworks, Rs 320 crore for brand marketing and promotional activities, and the remaining funds will be applied to acquisitions and general corporate objectives.
In terms of financial performance, Lenskart achieved a revenue increase of 22.6% year-on-year, reaching Rs 6,653 crore in FY25, up from Rs 5,428 crore in FY24. This success transitioned the company from a loss of Rs 10 crore in FY24 to net profits of Rs 297 crore in the previous fiscal year. In Q1 FY26, the SoftBank-backed company reported a profit of Rs 61 crore compared to a loss of Rs 10.9 crore in Q1 FY25, while its operating profits climbed by 25% year-on-year, totalling Rs 1,894.4 crore.
