Lenskart files RHP; IPO to open on October 31

Omnichannel eyewear retailer Lenskart filed its Red Herring Prospectus (RHP) on October 25, 2025, for its initial public offering (IPO). The issue will open for subscription on October 31 and close on November 4, 2025, while the anchor investor bidding will open on October 30.

According to the company’s RHP, the Gurugram-based firm plans to raise Rs 2,150 crore through a fresh issue, while existing shareholders will offload up to 12.75 crore shares via an offer for sale (OFS).

The total offer-for-sale (OFS) size has been trimmed to 12.75 crore shares from 13.22 crore shares proposed in the DRHP, as co-founder Neha Bansal reduced her share sale by 47.26 lakh shares. 

Of the 47.26 lakh shares, Neha Bansal sold 22.38 lakh shares to Shrikanta R. Damani, wife of DMart founder Radhakishan Damani, at Rs 402 per share, amounting to Rs 90 crore.

The remaining OFS participants will retain the same share sale quantities as stated in the DRHP. SoftBank will offload 2.55 crore shares, followed by Schroders Capital (1.91 crore), Premji Invest (87 lakh), and Temasek (78.5 lakh). Kedaara Capital and Alpha Wave will sell 73.6 lakh and 66.6 lakh shares, respectively.

Co-founder and CEO Peyush Bansal will sell 2.05 crore shares, while co-founders Neha Bansal and Amit Chaudhary will offload 10.1 lakh and 28.6 lakh shares, respectively. Sumeet Kapahi, an early member of the founding team, will also offer 28.6 lakh shares in the OFS.

Lenskart’s total IPO size could be around Rs 7,278 crore if the issue price is set at Rs 402 per share, the same price at which Neha Bansal sold shares to Shrikanta R. Damani ahead of the RHP filing.

Lenskart plans to use Rs 272.6 crore from the fresh issue to set up new CoCo stores and Rs 591.4 crore for lease and rental payments. Further, Rs 213.37 crore will go toward technology and cloud infrastructure, Rs 320 crore for brand marketing and promotions, and the remaining funds for acquisitions and general corporate purposes.

On the financial front, Lenskart’s revenue grew 22.6% year-on-year to Rs 6,653 crore in FY25 from Rs 5,428 crore in FY24, driving the firm from a Rs 10 crore loss in FY24 to a net profit of Rs 297 crore in the last fiscal year.

In Q1 FY26, the SoftBank-backed company posted a profit of Rs 61 crore, compared with a loss of Rs 10.9 crore in Q1 FY25, while its operating profit rose 25% year-on-year to Rs 1,894.4 crore.