Peyush Bansal, CEO, Lenskart addressing the company’s IPO announcement in Mumbai | Photo Credit: FRANCIS MASCARENHAS
The three-day bidding will close on November 4, with a price band of ₹382-402 per share, while anchor bids open on October 30. The issue comprises a fresh share sale of ₹2,150 crore and an offer-for-sale (OFS) of about 12.8 crore shares by existing investors and founders.
Lenskart’s co-founder and CEO Peyush Bansal said the company aims to “become the Amazon of eyewear,” driven by technology and scale. The company plans to add about 450 outlets this year, expanding across key Indian cities and new international markets.
The company is focusing on regions closer to India — Japan, Dubai and Southeast Asia — where eyewear demand and demographics mirror its home market, before expanding farther, Peyush Bansal told businessline in an interaction on Monday. The expansion into Japan follows its acquisition of OWNDAYS, giving it a strong foothold in East Asia.
Peyush Bansal is expected to net around ₹824 crore from the sale while retaining close to nine per cent of the company post-listing. Neha Bansal, Co-founder and executive director, is selling about 10.1 lakh shares and is expected to earn around ₹40.6 crore.
Fund utilisation
The proceeds from the fresh issue will be used to open new company-owned stores, enhance technology infrastructure and fund marketing and brand initiatives.
Lenskart’s management said the company had long delayed its listing plans because it had sufficient cash reserves and strong internal accruals to fund growth. The relatively modest size of the fresh issue reflects that view, the Chief Financial Officer Abhishek Gupta told businessline.
Gupta said the company had to persuade some early backers, including founders Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, as well as investors such as SoftBank Vision Fund II, Temasek, Kedaara Capital, Schroders Capital and Alpha Wave Ventures, to part with shares to meet SEBI’s 10 per cent minimum public float rule.
The shares will be listed on the NSE and BSE. Kotak Mahindra Capital, Morgan Stanley, Avendus Capital, Citigroup, Axis Capital and Intensive Fiscal are the book running lead managers to the issue.
The offering comes close on the heels of major listings by Tata Capital and LG Electronics India, as the equity market heads for another record year for public offers.
Published on October 27, 2025
