Lenskart Solutions IPO To Open On October 31: Key Highlights, Financials, and Risks from the RHP

October 28, 2025: Lenskart Solutions recently announced that it will be bringing its initial public offering (IPO) with the aim of raising ₹7,278 crore. The red herring prospectus of the company dated October 25, 2025, stated that the issue will start on October 31, 2025 and will be open till November 4. However, the anchor bidding for the issue will be opening a day earlier, on October 30, 2025. It is expected that the company’s shares will list on stock exchanges on November 10.

Key Details of the Lenskart Solutions IPO

The ₹7,278 crore IPO is being managed by Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services.

The price band for the shares has been fixed between ₹382 and ₹402 per share, with the fresh issues totalling around ₹2,150 crore, while 12.7 crore shares are under Offer for Sale (OFS). The promoters of the company will dilute part of their holdings through the OFS, alongside investors.

Lenskart Solutions Utilisation of Proceeds

The company has outlined that it will use the proceeds from the IPO to set up new Company-Owned Company-Operated (CoCo) stores in India, make investments in technology and cloud infrastructure, fuel its brand marketing and promotional activities, and for inorganic acquisitions and general corporate purposes.

Lenskart Solutions Financial Performance

Lenskart reported strong revenue growth over the last three fiscal years. The company generated ₹37,880.28 million in FY23, which increased to ₹54,277.03 million in FY24, and ₹66,525.17 million in FY25. The company was also able to turn profitable in FY25 as it made a net profit of ₹297.3 crore, compared with a loss of ₹10.15 crore in FY24 and ₹63.75 crore in FY23.

Lenskart Solutions IPO Key Risks

While the IPO looks good overall, the investors should keep an eye out for the key risk areas. The first thing to consider is that the company has a high raw material dependency. Around 25% of the company’s total expenses are related to raw materials, which means that Lenskart is vulnerable to supply disruptions and price volatility. The company is also under some ongoing regulatory scrutiny, whereby the Directorate of Enforcement, Gurugram, has sought documents under the Foreign Exchange Management Act, 1999. The company has stated that it cannot guarantee that no further actions may arise in the future regarding the same.

Outlook

Lenskart’s IPO is one of the biggest consumer-tech listings of 2025. The IPO is backed by solid revenue growth, expanding global presence, and improving profitability. The company has operational scalability and brand leadership, which strengthen its position. However, investors should note that there are risks associated with its supply chain and regulatory scrutiny, which they should consider before subscribing to the IPO.

REF: https://static.lenskart.com/media/desktop/corporate/LenskartSolutionsLimited-RHP_signed.pdf

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