🚀 𝗟𝗲𝗻𝘀𝗸𝗮𝗿𝘁 𝗜𝗣𝗢: 𝗧𝗵𝗲 𝗡𝘂𝗺𝗯𝗲𝗿𝘀 𝗧𝗵𝗮𝘁 𝗠𝗮𝘁𝘁𝗲𝗿

 🚀 𝗟𝗲𝗻𝘀𝗸𝗮𝗿𝘁 𝗜𝗣𝗢: 𝗧𝗵𝗲 𝗡𝘂𝗺𝗯𝗲𝗿𝘀 𝗧𝗵𝗮𝘁 𝗠𝗮𝘁𝘁𝗲𝗿

Lenskart is launching India's most ambitious eyewear IPO with a ₹7,278 crore issue at ₹382-₹402 per share, claiming a ₹70,000 crore valuation but here's the twist worth noting.










𝗧𝗵𝗲 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗦𝘁𝗼𝗿𝘆

At the upper price band, Lenskart commands a staggering 237𝘹 𝘗𝘌 𝘳𝘢𝘵𝘪𝘰, compared to established retail giants like Titan at 85-110𝘹. The company only turned profitable in FY25 with ₹297 𝘤𝘳𝘰𝘳𝘦 𝘯𝘦𝘵 𝘱𝘳𝘰𝘧𝘪𝘵 (𝘢𝘧𝘵𝘦𝘳 𝘭𝘰𝘴𝘴𝘦𝘴 𝘪𝘯 𝘍𝘠23-24). This makes the math challenging for conservative investors.


𝗧𝗵𝗲 𝗣𝗿𝗼𝗺𝗼𝘁𝗲𝗿 𝗣𝗹𝗼𝘁

Only ₹2,150 crore of the ₹7,278 crore is fresh capital. The remaining ₹5,128 crore is offer for sale existing shareholders cashing out. Founder Peyush Bansal alone is offloading shares worth ₹825 crore, just three months after buying shares at an ₹8,500 crore valuation. That's an 8.2𝘹 jump in 90 𝘥𝘢𝘺𝘴.


𝗧𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁'𝘀 𝗦𝗸𝗲𝗽𝘁𝗶𝗰𝗶𝘀𝗺

Grey market premium crashed from ₹120 (Oct 26) to ₹48 (Oct 30) a 60% decline signaling investor hesitation. At ₹48 premium, the expected listing gain is just 12%, far below typical IPO euphoria.


𝗪𝗵𝗮𝘁'𝘀 𝗪𝗼𝗿𝗸𝗶𝗻𝗴 𝗳𝗼𝗿 𝗟𝗲𝗻𝘀𝗸𝗮𝗿𝘁

Revenue jumped 22.6% to ₹6,652 crore in FY25. The company operates 2,723 stores (2,067 in India, 656 overseas), making it India's largest organized eyewear retailer by volume. Backed by SoftBank, Temasek, and ADIA, it's clearly a credible brand.


𝗧𝗵𝗲 𝗕𝗼𝘁𝘁𝗼𝗺 𝗟𝗶𝗻𝗲

Lenskart is a genuine growth story but at valuations demanding perfection. When Bansal dismissed valuation concerns saying "𝘐 𝘥𝘰𝘯'𝘵 𝘶𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯" at the press conference, it reinforced investor worries. The IPO opens October 31; whether retail investors believe the vision or the valuations will determine the story.


The call? Strong business, stretched numbers.


#LenskartIPO #IPO2025 #EyewearRetail #Valuation #RetailInvesting #IndianStartups #EyewearIndustry #MarketWatch #BusinessGrowth #Controversy #InvestmentRisks

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