Lenskart Solutions Ltd. is a technology-driven eyewear company established in 2008, focused on the design, manufacturing, and retail of prescription eyewear, sunglasses, and contact lenses. It operates primarily under a D2C model in the Indian market, recording the highest volume of prescription eyeglasses sold in the country in FY 2025.

The company boasts an extensive omnichannel presence, operating 2,723 stores globally as of March 31, 2025 (2,067 in India). Its operations are highly scalable and tech-enabled, supported by over 100 million app downloads and a large technology team. The business model is reinforced by a centralized, in-house manufacturing and supply chain, which allows for rapid fulfillment, including next-day delivery in 40 Indian cities. Lenskart has a strong financial trajectory, with revenues growing consistently from ₹37,880 million in FY 2023 to ₹66,525 million in FY 2025. The combination of market leadership, vertical integration, and aggressive digital scaling makes Lenskart a compelling player in the organized eyewear space.

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• Integrated, Automated Operations: Centralized, automated supply chain and in-house engineering ensures quality, scale, and cost efficiency.
• Omnichannel Market Dominance: Extensive omnichannel platform (stores, app, web) with strong global reach and India’s most trusted brand.
• Technology and Innovation: “Technology-first” approach drives customer experience, operational efficiency, and rapid new product design.
• Strong Financial Trajectory: Track record of consistent high revenue growth and improving EBITDA margins across all operating periods.

The Company LENSKART SOLUTIONS LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Capital expenditure towards set-up of new CoCo stores in India (₹ 272.62 Cr.)
• Expenditure for lease/rent/license agreements related payments for our CoCo stores operated by the Company, in India (₹ 591.44 Cr.)
• Investing in technology and cloud infrastructure (₹ 213.38 Cr.)
• Brand marketing and business promotion expenses for enhancing brand awareness (₹ 320.06 Cr.)

Unidentified inorganic acquisitions and general corporate purposes

At the upper band of IPO ₹ 402, the stock is valued at a high 284.96 P/E multiple. Hence, well-informed investors would cautiously subscribe for medium to long term perspective.