India’s eyewear giant Lenskart is gearing up for its highly anticipated initial public offering (IPO), one of the most closely watched listings in India’s consumer retail space this year. The company, known for transforming India’s eyewear industry through its mix of online and offline presence, is preparing to test investor sentiment in the public market.
Lenskart has fixed its price band at ₹382 to ₹402 per share, with a face value of ₹2 per equity share. The IPO subscription window will open on Friday, 31 October 2025, and close on Tuesday, 4 November 2025, while anchor investor bids will take place a day earlier on Thursday, 30 October 2025. The lot size for retail investors is 37 shares, and bids can be placed in multiples of 37 thereafter. In terms of allocation, 75% of the issue is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors. Additionally, eligible employees will receive a discount of ₹19 per share.
Through this IPO, Lenskart aims to raise ₹2,150 Cr via a fresh issue component, alongside an Offer for Sale (OFS) of around 12.75 Cr shares by existing shareholders and promoters. The funds from the fresh issue will be used to open new company-owned and company-operated (CoCo) stores across India, cover lease and rent expenses, and invest in technology and cloud infrastructure. Part of the proceeds will also go towards brand marketing, promotional activities, potential acquisitions, and general corporate purposes. The combination of a fresh issue and OFS indicates that while Lenskart is raising money for growth, some early investors are also partially exiting, which may influence how investors view governance and long-term confidence in the company.
Founded in 2008, Lenskart launched its online platform in 2010 and opened its first physical store in New Delhi in 2013. Since then, the company has built a strong omnichannel presence, with both online and offline operations spanning major Indian metros as well as Tier-2 cities. The brand has also expanded internationally into Southeast Asia and the Middle East, reflecting its ambition to become a global eyewear player.
The IPO timeline outlines that subscriptions will be open from 31 October to 4 November 2025, with the basis of allotment expected to be finalised on Thursday, 6 November. Refunds and crediting of shares to demat accounts are scheduled for Friday, 7 November, and listing on NSE and BSE is likely to take place on Monday, 10 November 2025.
For investors, the price band of ₹382–₹402 provides an early look at Lenskart’s valuation expectations. The high QIB allocation indicates a strong focus on institutional investors, while the limited retail quota may lead to heavy competition among small investors. The fresh issue proceeds reflect Lenskart’s push for aggressive expansion, especially in store rollouts, technology enhancement, and brand growth. However, the large OFS component signals that existing investors are booking some profits, which could raise questions about timing and valuation.
Overall, the Lenskart IPO blends growth potential with partial investor exits, making it an important event for India’s consumer-tech and retail ecosystem. With its strong brand, growing market presence, and clear expansion strategy, Lenskart’s market debut is set to be a key test of investor confidence in India’s fast-evolving digital-first retail sector.