Lenskart kicks off ₹7,278-crore IPO with ₹3,268 crore anchor investment boost

A day ahead of the opening of the initial public offering (IPO), eyewear retailer Lenskart Solutions, on October 30, raised ₹3,268.3 crore from 147 anchor investors. The Peyush Bansal-led omni-channel eyewear retailer looks to raise ₹7,278 crore via the IPO route at a price band of ₹382–₹402 per share. The three-day public issue opens today, while shares are expected to make their debut on the BSE and NSE on November 10.

As per the exchange data, the company allocated 8.13 crore equity shares at the upper end of the price band of ₹402 per share, which saw participation from both domestic and international investors.

Among the key global investors were the Government of Singapore, the Monetary Authority of Singapore, Norway’s Government Pension Fund Global, T. Rowe Price, Fidelity, BlackRock, Capital Group, and Goldman Sachs, who were part of the anchor book.

On the domestic front, SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, DSP Mutual Fund, Franklin Templeton, WhiteOak Capital, and Mirae Asset participated. Insurance majors such as SBI Life, HDFC Life, ICICI Prudential Life, Bajaj Allianz Life, and Tata AIA Life also took part in the anchor book.

Ahead of the launch of the IPO, Lenskart shares were commanding a grey market premium (GMP) of ₹63 in the unlisted market, a 15.67% premium over the IPO price of ₹402, indicating a listing price of around ₹465 per share. The Lenskart IPO GMP has dropped from its peak of ₹108, touched on November 27, the day the company announced the price band for the issue.

Here’s all you need to know about the Lenskart IPO:

The three-day IPO, which closes on November 4, comprises a fresh issue of ₹2,150 crore and an offer for sale (OFS) of 12.76 crore shares worth ₹5,128.02 crore, according to the company’s draft filing.

At the upper end of the price band, the market valuation is pegged at around ₹69,726 crore, positioning Lenskart among the country’s most valuable consumer-tech listings in recent years.

The lot size for retail investors is 37 shares, requiring a minimum investment of ₹14,874 at the upper end of the price band. The company has reserved up to 75% of the shares for qualified institutional buyers (QIBs), not more than 15% for non-institutional investors (NIIs), and the remaining 10% for retail investors, including employees. A discount of ₹19 per share will be offered to eligible employees.

Under the OFS, Japanese investor SoftBank, Mumbai-based private equity firm Kedaara Capital, Singapore’s state-owned investor Temasek, Alpha Wave Ventures, and promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi plan to offload shares.

As of now, the promoter group, including co-founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, holds a 19.96% stake in the company, with Peyush Bansal alone accounting for about half of it (10.28%).

Of the ₹2,150 crore raised through the fresh issue, ₹272.6 crore will be used to establish around 620 new company-owned, company-operated (CoCo) stores across India by FY29, while ₹591.4 crore has been allocated towards lease deposits for its existing outlets.

The company also plans to deploy ₹213.4 crore to strengthen its technology and cloud infrastructure, with a focus on expanding AI-driven fulfillment systems and robotic lens manufacturing facilities. Additionally, ₹320 crore has been earmarked for brand marketing and business promotion activities.