Lenskart Solutions IPO Review & Investor Guide

For investors, it can be quite challenging to decide if the Lenskart Solutions IPO is a good investment or not. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we present the top key factors and a detailed review of the Lenskart Solutions IPO. This will help you analyze the strengths, risks, and financial details of the Lenskart Solutions IPO, making your investment decision better.

About Company 

Lenskart Solutions Limited, incorporated in 2008, is one of the leading technology-based eyewear companies engaged in designing, manufacturing, branding, and selling eyewear products. To them, a clear vision is essential for an individual’s well-being and personal growth. Their goal is to incorporate technology-enabled solutions that make quality and affordable ‘Eyewear for All’.

The company’s portfolio consists of a wide range of products, including prescription eyeglasses, sunglasses, contact lenses, and eyewear accessories. In FY25, according to the report, Lenskart is the largest seller of prescription eyeglasses. India is their largest market, and the company has expanded into selected international markets such as Japan, Southeast Asia, and the Middle East. 

The company mostly designs and sells its products under its own brand and sub-brands. As of March 31, 2025, the company consists of a 105-member design and merchandising team who are involved in designing eyeglasses, including both frames and lenses. They provide diversified eyewear products for all price ranges and age groups, targeting the needs of each customer. Moreover, in FY25, Lenskart had launched 105 new in-house designed collections worldwide, also collaborating with famous brands and celebrities. Its mobile app had over 100 million downloads, and it runs a total of 2,723 stores worldwide, 2,067 in India and 656 abroad as of March 31, 2025.

Strengths

• The company consists of its own in-house frame and lens engineering and manufacturing capabilities, which allow it to design, produce, and deliver high-quality eyewear that serves the unique customer requirements.

• Rather than just focusing on trends, Lenskart follows a customer-focused approach where they design their eyewear according to the customer’s needs, feedback, and preferences.

• Through its Omnichannel Retail Network, Lenskart reaches its customers via both online and offline channels, making it convenient and accessible to all.

• They aim to offer innovative, quality, affordable, and accessible eyewear for all, filling the gap within the eyewear industry. 

Weaknesses

• The company makes some of its frames in China, as well as imports some raw materials from them. Meaning that any interruption or delay in this supply can badly affect the business, cash flow, and operations.

• Over the last 3 years, the company has shown a low return on Equity (ROE) of 1.16% which indicates weak profitability.

• The company’s Earnings include other income of ₹351 Crores, which refers to most of its profits coming from outside-business activities, and not from its main business. 

• In the past, the company suffered from losses and only recently turned profitable.

Lenskart Solutions IPO Review 

Lenskart Solutions IPO Details

Financial Performance Trend Details 

Peer Comparison with the Company

There are no listed companies in India or globally that operate in a similar business model to theirs.

Key Performance Indicator

Promoters & Track Records, if any

• Peyush Bansal, born on February 25, 1984, aged 41 years, is the Chairman, Managing Director, and Chief Executive Officer of the Company. He holds 173,222,220 of Equity Shares, representing 10.28% of pre-Offer paid-up Equity Share Capital in the company.

• Neha Bansal, born on October 29, 1981, aged 43 years, is the Executive Director of the Company. She holds 128,271,184 of Equity Shares, representing 7.61% of pre-Offer paid-up Equity Share Capital in the company.

• Amit Chaudhary was born on July 16, 1986, aged 39 years, and is the Executive Director of the Company. She holds 16,585,630 of Equity Shares, representing 0.98% of pre-Offer paid-up Equity Share Capital in the company.

• Sumeet Kapahi was born on May 12, 1965, aged 60 years, and is the Global Head of Sourcing of the Company. He holds 16,107,050 of Equity Shares, representing 0.96% of pre-Offer paid-up Equity Share Capital in the company.

Expansion 

• The proceeds raised from the fresh issue will be used towards the set-up of new CoCo stores in India.

• A portion of the funds will be utilized for expenditures for lease/rent/license agreements, related payments for our CoCo stores operated by the Company.

• Some funds will be used towards technology and cloud infrastructure.

• A portion of it goes towards Brand marketing and business promotion expenses for enhancing brand awareness.

• Lastly, the remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes.

Lenskart Solutions IPO – Should You Apply or Not?

Lenskart Solutions boasts strong market leadership, an Omnichannel business model, consistent revenue growth, and technology-driven & customer-centric operations, positioning it well for long-term growth. While the Indian eyewear/optical market has significant growth potential, investors should also consider key risks such as competitive pressure, supply chain dependence, and high valuation. 

As of October 29, the GMP of Lenskart Solutions is ₹80, indicating a listing gain of around 18% to 22%. Short-term investors may apply for the IPO for listing gains, given attractive Grey Market Premium (GMP) trends and strong brand recall. Whereas Long-term investors must analyze the risks, high valuation, competitive pressure, and market sentiment before investing their money in it.

Please note:

Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.