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Chandigarh: Eyewear major Lenskart Solutions Limited, one of India’s largest omni-channel eyewear retailers, has successfully raised ₹3,268.36 crore from anchor investors ahead of its much-awaited initial public offering (IPO). The company allotted 8.13 crore equity shares to marquee domestic and global institutional investors at the upper end of the price band—₹402 per equity share (face value ₹2 each).
The IPO opens for public subscription today (October 31) and will close on November 4, 2025. The price band for the issue has been fixed between ₹382 and ₹402 per share, with a minimum bid lot of 37 shares and in multiples thereof.
The IPO comprises a fresh issue of equity shares aggregating up to ₹2,150 crore and an offer for sale (OFS) of up to 12.75 crore shares by existing shareholders, including the company’s founders and prominent institutional investors.
Strong Institutional Response: ₹3,268 Crore Anchor Investment
The anchor round witnessed robust investor demand, drawing participation from top domestic mutual funds, life insurers, and foreign institutional investors (FIIs).
Out of the total anchor allotment, 2.87 crore shares (35.34%) were subscribed by 21 domestic mutual funds across 59 schemes, reflecting strong confidence from long-term Indian investors in the company’s growth trajectory.
Among the domestic participants, the anchor book included marquee names such as SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset, DSP, Franklin India, HSBC, WhiteOak, Edelweiss, Bandhan, and Canara Robeco.
Insurance majors such as SBI Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, Bajaj Allianz Life Insurance, Kotak Mahindra Life Insurance, Axis Max Life, Reliance Nippon Life Insurance, and Tata AIA Life Insurance also participated in the anchor book.
Strong Global Investor Interest
The anchor portion also attracted significant participation from global sovereign and institutional funds, underscoring the company’s international appeal and solid fundamentals.
Notable global investors in the anchor book included the Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global (Norway), New World Fund Inc, Fidelity, T. Rowe Price, BlackRock, Capital Group, Goldman Sachs, Nomura, Amundi, JP Morgan, and Wellington Management Company LLP.
Such strong global participation signals growing foreign investor confidence in India’s rapidly evolving digital-first consumer retail sector, with Lenskart positioned as one of its leading players.
Offer Structure and Objectives
The IPO consists of two components:
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Fresh Issue: Equity shares worth ₹2,150 crore
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Offer for Sale (OFS): Up to 12.75 crore shares by existing shareholders
The selling shareholders include Lenskart’s founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, alongside institutional investors such as SVF II Lightbulb (Cayman) Limited, Schroders Capital Private Equity Asia Mauritius Limited, PI Opportunities Fund – II, MacRitchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP.
Additionally, the offer includes an Employee Reservation Portion aggregating up to ₹150 million, with the remaining portion forming the Net Offer.
Use of Proceeds
Lenskart plans to utilise the net proceeds from the IPO for several strategic initiatives, including:
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Expansion of retail presence through new company-owned, company-operated (CoCo) stores across India
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Lease and rental payments for retail operations
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Investments in technology and cloud infrastructure to strengthen its online and omnichannel ecosystem
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Brand marketing and advertising to deepen market penetration
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Inorganic acquisitions in adjacent categories and geographies
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General corporate purposes
These initiatives are aimed at accelerating the company’s growth strategy, improving operational efficiency, and reinforcing its position in India’s rapidly expanding eyewear market.
About Lenskart
Founded in 2010, Lenskart Solutions Limited has revolutionized the eyewear industry in India through its omni-channel model, which seamlessly integrates online and offline retail. The company offers prescription eyeglasses, sunglasses, and contact lenses across multiple price points, blending affordability with style and quality.
Today, Lenskart operates one of the largest optical retail networks in India, supported by cutting-edge technology for 3D try-on, AI-powered recommendations, and home eye check-ups. Its direct-to-consumer (D2C) strategy, coupled with supply chain integration, has enabled competitive pricing and efficient delivery.
Book Running Lead Managers
The IPO is being managed by a consortium of leading investment banks and financial advisors:
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Kotak Mahindra Capital Company Limited
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Morgan Stanley India Company Private Limited
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Avendus Capital Private Limited
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Citigroup Global Markets India Private Limited
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Axis Capital Limited
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Intensive Fiscal Services Private Limited
The company’s shares are expected to list on both the BSE and NSE, with listing tentatively scheduled after the IPO closes on November 4, 2025.
Market Outlook
Analysts say Lenskart’s IPO comes at a favorable time for India’s retail and lifestyle sector, which continues to benefit from rising disposable incomes, digital adoption, and shifting consumer preferences toward organized retail. The company’s consistent revenue growth, scalable business model, and technology-driven operations make it one of the most anticipated listings of the year.
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