Lenskart, India's leading eyewear retailer, plans to launch its highly anticipated initial public offering (IPO) around October 31, targeting a valuation of approximately Rs 70,000 crore. The company filed its Draft Red Herring Prospectus (DRHP) with SEBI on July 29, 2025, marking a significant step towards its public listing. This IPO is expected to be one of the largest in India's consumer-tech sector this year, drawing keen interest from investors looking at the country's booming retail market.^[1][2] ### Eyeing Growth and Expansion The IPO will include a fresh issue of Rs 2,150 crore, alongside an Offer for Sale (OFS) of up to 13.2 crore shares by existing investors and founders. Prominent shareholders like SoftBank and Temasek are expected to sell a portion of their holdings.^[1][3][4][2] Lenskart aims to use the fresh capital primarily for aggressive retail expansion across India. The company plans to allocate Rs 272 crore towards setting up new company-owned and company-operated (CoCo) stores and nearly Rs 591 crore for lease and rent payments related to existing CoCo stores.^[3][5][2] Beyond physical expansion, Lenskart will invest around Rs 213 crore into technology and cloud infrastructure. Another Rs 320 crore is earmarked for brand marketing and promotions. The funds will also support potential inorganic acquisitions as Lenskart continues to strengthen its market position.^[3][5] This strategic allocation highlights the company's commitment to both physical and digital growth. ### Strong Financial Performance Lenskart has shown robust financial performance, achieving profitability in the fiscal year 2025. The company reported a net profit of Rs 297.3 crore for FY25, a significant turnaround from a net loss of Rs 10.1 crore in FY24.^[6][3][7][8] Operating revenue also saw a substantial increase, rising 22.5% to Rs 6,652.5 crore in FY25, up from Rs 5,427.7 crore in the previous fiscal year.^[3][7][8][9] This growth underscores Lenskart's effective business model and operational efficiency. The company's strong financials have attracted attention even before the IPO. Radhakishan Damani, founder of DMart, recently invested approximately Rs 90 crore in Lenskart through a pre-IPO placement.^[10][7] This investment signals confidence from seasoned market players in Lenskart's growth trajectory and future potential. ### From Online Pioneer to Omnichannel Leader Founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi, Lenskart started as an online eyewear platform. It quickly evolved into a vertically integrated company, handling everything from design and manufacturing to distribution and retail of prescription and regular eyewear.^{[11][12][13][14][15]} Lenskart operates a successful omnichannel model, combining its robust online presence with over 2,000 physical stores across India.^{[11][12][16][17]} This hybrid approach allows customers to browse online, use virtual try-on tools, and also visit stores for eye tests and personalized assistance.^{[16][18][19][20]} Lenskart's focus on affordability, quality, and customer convenience has helped it capture a significant share of the Indian eyewear market. As of 2023, Lenskart held a 25% market share in the organized eyewear segment. Some reports even suggest its dominance could be as high as 70% in the organized market.^[12][16] The company's manufacturing facility in Bhiwadi, Rajasthan, boasts an annual production capacity of 5 crore glasses, ensuring efficient supply to its vast network.^[11][14] ### Global Ambitions and Strategic Moves Lenskart is not just an Indian success story; it is rapidly expanding its global footprint. The company operates in 14 countries, with a growing presence in Southeast Asia, the Middle East, Japan, Taiwan, Hong Kong, Australia, and the United States.^{[11][21][5][22][23]} A key strategic move was the acquisition of Japanese eyewear brand Owndays in 2022 for $400 million. This acquisition significantly bolstered Lenskart's presence in Asian markets.^{[11][12][24][15]} Peyush Bansal, Lenskart's CEO, has spoken about the company's long-term vision. He emphasizes investing in research and development to own the full stack of eyewear, from hardware and firmware to software and content.^[25] This integrated approach aims to enhance customer experience and drive innovation, including exploring smart eyewear technologies.^[25] Lenskart is also investing $200 million in a new manufacturing facility in Telangana, which will further strengthen its global production capabilities and reduce costs.^[26] ### Looking Ahead Lenskart's upcoming IPO is a landmark event for the Indian equity markets. It reflects the company's journey from a startup to a profitable, multi-billion dollar enterprise with robust investor backing. The public listing will test investor appetite for Indian consumer-technology companies, especially after a period of fluctuating valuations for some startups.^[27][3] With its strong omnichannel presence, technological innovation, and aggressive expansion plans, Lenskart aims to solidify its position as a global leader in the eyewear industry.