LensKart, an omnichannel retailer of eyewear, has established a price range of INR 382 to INR 402 for its initial public offering (IPO), which is scheduled to start on Friday, October 31.

The IPO will value the company at INR 69,726 Cr (about $8 billion), which is at the upper end of the pricing range.

Using its diluted earnings per share for FY25, the company’s price to earnings ratio (P/E ratio) at INR 402 is 228.41 in terms of financial measures.  The P/E ratio is 217.05. This is the bottom end of the pricing range.

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On Thursday, October 30, there will be the anchor bidding for Lenskart’s initial public offering (IPO). The issue will end on November 4.

The IPO includes an OFS component of 12.76 Cr shares and a fresh issue of up to INR 2,150 Cr.  Notably, because promoter Neha Bansal is selling fewer shares, the corporation has reduced the size of the OFS component from 13.23 Cr shares previously.

According to the company’s RHP, on October 23, Shrikanta Damani purchased INR 90 Cr worth of Lenskart shares from Neha Bansal.

Shares will be sold through the OFS by the company’s promoters and cofounders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi as well as institutional investors SVF II Lightbulb (SoftBank), Schroders, PI Opportunities, Macritchie Investments, Kedaara Capital, and Alpha Wave Ventures.

The total IPO size at the upper end of the pricing range will be INR 7,278 Cr, or roughly $827.4 Mn.

The omnichannel eyewear company Lenskart was established in 2010 and has locations in Japan, Singapore, India, Spain, and the United Arab Emirates.  The business makes sales through its robust offline presence in addition to its website and mobile app.

With 2,067 locations in India and 656 in other countries like Southeast Asia, the Middle East, and Japan, the corporation has 2,723 locations worldwide.  By FY29, it plans to open 620 more outlets.

With the money raised from the IPO, Lenskart intends to open more company-owned, company-operated locations around India in order to increase its physical retail footprint.  The funds will also be used for brand promotion, tech infrastructure, rental or license agreements for these stores, and other general business needs.

In terms of finances, Lenskart reported a net profit of INR 61.2 Cr in the first quarter of FY26, compared to a loss of INR 25.7 Cr in the same period last year.  In the first quarter of FY25, operating revenue increased by 25% to INR 1,894.5 Cr from INR 1,520.4 Cr.