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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Setting up new company-owned stores
Capital spending to open additional stores that Lenskart owns and operates.
Lease and running costs for new company-owned stores
Funding lease payments and related expenses for the new company-owned store rollout.
Technology and cloud infrastructure
Investment in the company's technology stack and cloud capabilities.
Brand marketing and promotion
Spending on advertising, brand building and business promotion.
Inorganic growth and general corporate purposes
Funding potential acquisitions and general corporate purposes; the specific amount is not separately quantified in the offer documents.
(₹ in Crore)
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Lenskart Solutions Limited is a technology-led eyewear company that designs, makes, markets and sells prescription eyeglasses, sunglasses, contact lenses and related accessories. It runs a direct-to-consumer model that spans its own online channels and a large chain of physical stores, and it keeps most of its supply chain in-house, from product design through manufacturing to fulfilment. The company was founded in 2008 and has grown into one of India's largest eyewear retailers. As of March 31, 2025 it operated 2,723 stores worldwide, of which 2,067 were in India and 656 were overseas; within India, 1,757 were owned and operated by the company and 310 were run by franchise partners. According to the Redseer report cited in its offer documents, Lenskart sold the highest volume of prescription eyeglasses in India during fiscal 2025. Lenskart leans heavily on data and automation across its operations, using analytics to guide store site selection, inventory and merchandising. Its overseas business has been expanding and, at a comparable scale, has shown stronger product margins than the early India operation. A meaningful part of the proceeds from its public issue is earmarked for opening more company-owned stores, investing in technology and cloud infrastructure, and building the brand.
Lenskart raised about Rs 3,268.36 crore from a group of 147 anchor investors, whose bids were finalised on October 30, 2025 at Rs 402 per share (the upper end of the price band). The anchor book included large domestic mutual funds such as SBI, HDFC and ICICI Prudential, overseas sovereign wealth funds, and global asset managers including Fidelity, BlackRock, Goldman Sachs and JP Morgan.
Source: RHP • Analysis provided for informational purposes
Last Updated: 12 July 2026, 5:30 AM
In-house supply chain
Lenskart controls a large part of its eyewear supply chain, from design and manufacturing through to distribution, which supports cost control and product consistency.
Technology across operations
The company applies data science, and even satellite imagery, to decisions such as where to open stores, helping it lower the risk of weak launches and deploy capital more efficiently.
Hard-to-copy retail network
Its wide physical store footprint offers fitting and prescription services that are difficult for purely online or technology players to replicate, positioning it well in the emerging smart-eyewear space.
Improving international economics
At a comparable scale, the overseas operations have earned higher product margins than the India business did, suggesting international markets could become a larger profit contributor over time.
Execution risk in rapid expansion
Continuing to grow the store network quickly puts pressure on supply chain and operational execution, and any slippage could affect service and costs.
Reliance on ongoing technology spend
The business depends on sustained investment in technology, and any disruption to its systems could hurt operations.
Premium valuation
The issue is priced at a high earnings multiple relative to current profitability, which leaves limited room for disappointment if growth slows.
Lenskart Solutions Limited
MUFG Intime India Private Limited
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