Lenskart Solutions Ltd IPO
FMCG
Price Band
₹382 – ₹402
Lot Size
37
Minimum Bid Quantity
37
Minimum Investment
₹14874
Issue Size
₹7278.02Cr
Opens
2025-10-31
Closes
2025-11-04
Listing
10-11-2025
Subscription Status
Qualified Institutional Buyers
40.35 x
Non-Institutional Investor
18.23 x
Retail Individual Investor
7.54 x
Employees
4.96 x
Total
28.26 x
IPO Details
Issue Type
BB
Face Value
₹2
Tick Size
1
ISIN
INE956O01016
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Lenskart Solutions Limited is a technology-driven eyewear company with integrated operations spanning the designing, manufacturing, branding, and retailing of eyewear products. The company designs its eyeglasses, both frames and lenses, supported by a 109-member design and merchandising team, as of June 30, 2025. It primarily sells prescription eyeglasses, sunglasses, contact lenses, and eyewear accessories. The company claims to be the largest seller of prescription eyeglasses in volume terms in India in the financial year 2025, among organised retailers. The company has a presence in international markets, including Japan, Southeast Asia, and the Middle East. Use of proceeds: The IPO is a combination of a fresh issue of shares and an offer for sale (OFS) of 12.76 crore shares. The amount garnered from the OFS will go to the promoter selling shareholders in proportion to the number of shares offered by them for sale. The proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Capital expenditure for setting up new CoCo stores in India — Rs 272.62 crore. Expenditure for lease/rent/license agreement-related payments for its CoCo stores in India — Rs 591.44 crore. Investing in technology and cloud infrastructure— Rs 213.37 crore. Brand marketing and business promotion expenses — Rs 320.06 crore. Unidentified inorganic acquisitions and general corporate purposes — Remaining amount.
Pros
- • Lenskart’s products span a wide range of price points and age categories, catering to the requirements of an entire household. During the three months ended June 30, 2025, and FY25, it launched 42 and 105 new in-house designed and engineered collections globally, respectively, including in collaboration with popular brands and celebrities.
- • The two-year purchase frequency among new customers of Lenskart in FY23 was 3.62 eyeglasses, compared to an India average of 1.8 eyeglasses, according to a Redseer report.
- • In FY25, Lenskart was awarded “India’s Most Trusted Eyewear Brand of 2025” by TRA Research.
Cons
- • Lenskart’s cost of raw materials consumed constituted a significant portion of its expenses at Rs 467.34 crore, or 25.45%, and Rs 1,622.97 crore, or 24.52%, of its total expenses in the three months ended June 30, 2025, and FY25, respectively. Any delays, interruptions, or reduction in the supply of raw materials or fluctuations in their prices could adversely affect its business, results of operations, and finances.
- • Import of frames and other raw materials from China accounted for Rs 354.75 crores (53.38%) in the three months ending June 2025; Rs 1,062.43 crore (42.21%) in FY25; Rs 769.97 crores (41.09%) in FY24; and Rs 868.22 crores (54.15%) in FY23. Any delays, interruptions, or reduction in the supply of such frames or other raw materials could hurt its business and finances.
- • Capacity utilisation has remained low over the years. For the three months ended June 25, capacity utilisation at the Gurugram unit was 39.22%, Bhiwadi 68.26%, Singapore 61.93%, and Dubai 40.58%. The overall average during the period stood at 55.10%. For FY25, capacity utilisation for Gurugram stood at 40.92%, Bhiwadi 54.31%, Singapore 54.40%, and Dubai 22.24%, at a total average of 47.93%. For FY24, capacity utilisation at Gurugram was 44.47%, Bhiwadi 48.05%, Singapore 42.70%, and the total average of 45.91%. For FY23, the figure for Gurugram was 52.28%, Bhiwadi 19.95%, Singapore 27.63%, and total average of 47.17%. The company needs to increase the capacity utilisation level to register optimum business and profits.
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