Lenskart Solutions’ IPO values the company at roughly ₹69,727 crore (about $7.9 billion) at the top end, reflecting ultra-high multiples and a strong brand amid market leadership.

The IPO opened on October 31, 2025 and closes on November 4, 2025, with allotments expected by November 5–6, refunds by November 7, demat by November 9, and listing targeted on November 10 on NSE and BSE.

QIBs subscribed over 40x, HNIs over 18x, and retail about 7x, with roughly 3.2 million applications highlighting robust demand.

Anchor investors subscribed 15x, adding positive sentiment ahead of listing, while the grey market premium stayed above 20% during the offer period.

The ₹7,278 crore offer includes a fresh issue of ₹2,150 crore to fund expansion, technology, and marketing.

Lenskart operates a global omnichannel model with about 2,806 stores (2,137 in India) and strong integration between online platforms and physical outlets.

The Indian eyewear market is fragmented, with organised players like Lenskart and Titan Eye+ expanding through enhanced supply chains, pricing, and retail experience; organised channels are expected to grow faster than unorganised to about 31% by FY30.

IPO subscriptions approached ₹1.13 trillion, reflecting strong investor demand and near-30x overall subscription.

The issue structure favored QIBs (about 75%), with ~15% for HNIs and ~10% for retail; major shareholders like SoftBank and Temasek partly cashing out remain significant post-IPO.

SBI Securities views the issue as stretched but believes Lenskart is well-positioned to capture growth, suggesting a long-term subscribe at the cut-off price.

Lenskart’s profile features in-house brands, AI-powered store tests, and tech initiatives like AI eye tests and Qualcomm-backed smart glasses to support scalable, fast-fashion eyewear growth.

Forward-looking valuations imply very high multiples (roughly 163x–171x forward P/E for FY26), underscoring expectations of long-term growth potential.