Indian eyewear giant Lenskart Solutions is set to launch its much-awaited Initial Public Offering (IPO), aiming to raise approximately ₹7,278 crore in one of the largest public issues from the consumer technology sector this year. The IPO is structured as a combination of a fresh issue and an Offer For Sale (OFS), reflecting the company’s dual objective of providing liquidity to early investors and fueling aggressive future expansion.
Lenskart, founded in 2010, has become India’s leading eyewear retailer, utilizing a tech-enabled omni-channel model that integrates online platforms with a vast physical network. This strategy has allowed the company to rapidly capture market share in a segment historically dominated by unorganized local players.
Presently, the company serves more than 10 million consumers and boasts a significant footprint with over 2,000 stores across India . The company’s ambitions extend beyond domestic borders, as it has also established a strong business presence across Southeast Asia and the Middle East, positioning itself as a major player in the global eyewear market.
The bidding for the subscription is scheduled to open on October 31 and will close on November 4. Lenskart is expected to make its market debut on the NSE and BSE on November 10. The IPO comprises a fresh issue of ₹2,150 crore and an OFS of 13.22 crore shares.
The funds generated from the fresh issue, specifically the ₹2,150 crore, are earmarked for crucial company growth and expansion plans. These plans include the capital expenditure required for opening new stores in both existing and untapped markets across India and its international geographies. A portion of the proceeds will be directed toward infrastructure upgrades, including investments in supply chain automation and technology integration, ensuring a seamless and efficient omni-channel experience for customers. The remaining funds will be utilized for leasing, renting, and marketing initiatives, which are essential for driving brand visibility, customer acquisition, and market penetration in a highly competitive retail landscape.
The successful listing of Lenskart is expected to be a key indicator of investor confidence in India’s technology-driven retail segment. The issue is being managed by a consortium of reputable Book Running Lead Managers (BRLMs), including Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, and Intensive Fiscal Services Private Limited. Their presence underscores the importance and scale of this public offering, which is set to fund the next phase of Lenskart’s journey towards becoming a dominant global eyewear leader.
