Lenskart’s IPO was oversubscribed 26-28 times, indicating an overwhelming demand for India’s largest organised eyewear retailer. The IPO, which ran from October 31, 2025, to November 4, 2025, was valued at approximately ₹7,278 crore and priced at ₹382 to ₹402 per share. The issue comprised a fresh equity raise of ₹2,150 crore to fund expansion, and an Offer for Sale (OFS) of around ₹5,128 crore by existing promoters and investors.
Investor response was similar across all categories, including Qualified Institutional Buyers (QIBs), Retail Individual Investors (RIIs), and Non-Institutional Investors—QIBs bid in well over 40 times their quota. In total, bids were placed for over 281 crore shares against approximately 9.97 crore on offer, resulting in a subscription of nearly 28 times the issue size. The enthusiasm drove bids for more than ₹1.1 lakh crore at the upper end of the price band, an overwhelming vote of confidence in Lenskart’s growth prospects, even though some analysts have questioned its lofty valuation.
Lenskart, which rose to fame with its direct-to-consumer business model, has more than 2,700 stores in India and over 650 overseas. It operates a centralized manufacturing facility that powers its omnichannel sales and reported revenue of ₹6,653 crore in FY25, with net profit of ₹297 crore at the bottom line, compared to losses in previous years. The company intends to use proceeds from the IPO to open new company-operated stores, as well as to fund technology and marketing investments and lease obligations.
The IPO has been closely watched as one of the biggest consumer-tech listings of 2025. Anchor investors SoftBank Vision Fund II, Schroders Capital, and Kedaara Capital had bought in large quantities, creating positive buzz. The shares are expected to start trading on major stock exchanges around November 10, 2025.
While some analysts are justifiably wary of a high valuation, which doesn’t leave much room for listing gains in the near term, the broad investor base – ranging from global funds to retail investors – also underscores firm conviction about Lenskart’s prospects over time. The firm is going to reinforce its leadership in the fast-expanding but yet unorganised Indian Organised Eyewear category.
This massive IPO has not only raised a lot of money but also set the stage for Lenskart’s next phase of growth. It is a big deal for India’s consumer tech and retail ecosystem.