Indian Eyewear Giant Lenskart Targets $8 Billion Valuation in Landmark IPO
- ByStartupStory | October 28, 2025
India’s eyewear retail market is set for a major milestone as Lenskart Solutions Ltd., the country’s largest organized eyewear brand, moves to launch an initial public offering (IPO) aiming for a valuation of nearly $8 billion. The much-anticipated public issue, scheduled to open on October 31 and close on November 4, highlights both Lenskart’s evolution from a tech-first startup into a global retail powerhouse and the growing appetite for consumer internet IPOs in India’s surging equity market.
A Transformative Journey
Founded in 2010 by Peyush Bansal, Lenskart began as an online disruptor in the traditionally fragmented Indian eyewear segment. Over the past decade and a half, the company has grown into a technology-driven omni-channel powerhouse, integrating designing, manufacturing, house-brand retail, and digital customer engagement. As of March 2025, Lenskart boasted 2,723 stores worldwide—including 2,067 outlets in India and a growing international presence in Japan, Southeast Asia, and the Middle East. Their mobile app has crossed 100 million downloads, underlining the brand’s formidable online and offline appeal.
Financials and IPO Details
Lenskart’s IPO is among the largest in India this year, with the company planning to raise as much as ₹7,278 crore (approximately $830 million) at a price range of ₹382–402 per share. The offer comprises a ₹2,150 crore fresh issue and an offer-for-sale of around 127.6 million shares by promoters and early backers, including global investors like SoftBank, Temasek, Kedaara Capital, and Alpha Wave Ventures. Prominent Indian investor Radhakishan Damani (of DMart) has also shown confidence, participating with a pre-IPO investment.
The listing, which will take place on both the NSE and BSE, is expected to value Lenskart between $7.9 billion and $8 billion. The strong response from anchor and retail investors is being seen as an indicator of robust interest in high-growth, profitable consumer-tech companies that have proven their scale and business model in the Indian context.
Use of Proceeds and Growth Ambitions
Lenskart aims to deploy the IPO proceeds for aggressive expansion, both organically through new store openings and inorganically through potential M&A activity. The company will also invest in technology, brand marketing, and supply chain infrastructure, reflecting its ambition to further capture market share in India’s rapidly expanding eyewear segment. With more than 22.9 million eyewear units sold in FY25 and 9.94 million customer accounts, Lenskart’s tech-focused lens manufacturing, robotic automation, and digital supply chain are widely considered to underpin one of the most efficient business models in Indian retail.
Competitive Strengths and Industry Impact
Lenskart’s digital-first approach, robust brand recall, and focus on AI-driven personalization have helped it thrive in India’s dynamic consumer market. The company has tapped growing demand for affordable, customizable eyewear—positioning spectacles, sunglasses, and contact lenses as both a style statement and a health necessity in a nation where screen time and vision issues are rising year-on-year.
Its expansion into international markets further signals confidence in Indian retail models able to compete with legacy global eyewear giants. Lenskart’s business provides a blueprint for digital integration, leveraging data analytics, virtual try-ons, and next-day delivery in dozens of cities. Industry observers highlight Lenskart’s IPO as a test case for the Indian startup ecosystem’s ability to create high-value exits and expand the universe of liquid, listed consumer-tech assets.
What Investors Should Consider
Analysts note that Lenskart’s strong profitability, proven scale, and global ambitions set it apart from the wave of digital-first IPOs that have sometimes struggled with sustainability post-listing. However, factors like intensifying competition, execution risk in newer international markets, and maintaining high growth while protecting margins remain important variables for prospective investors.
Given its history, scale, and clear roadmap for continued innovation, the Lenskart IPO is expected to generate substantial market buzz and influence future strategies of both new-age startups and traditional retail players.
Conclusion
With its bid to secure a valuation close to $8 billion through India’s fifth-largest IPO of 2025, Lenskart is not only charting its own growth trajectory but also helping define the next phase for Indian retail and consumer technology public listings. All eyes will be on Peyush Bansal and his team as the company makes its market debut, aiming to keep India—and the world—seeing clearly in the digitally-powered decades to come.
Follow Startup Story
Related Posts
