Adia-backed Lenskart readies USD 828 mn IPO

Lenskart IPO eyes market high: Indian eyewear retailer Lenskart Solutions Ltd plans to raise INR 72.8 bn (USD 828 mn) through its upcoming IPO, Business Standard reports. The company will issue new shares worth INR 21.5 bn (USD 245 mn), while existing investors will offload 127.6 mn shares.

Backed by Abu Dhabi Investment Authority (ADIA), SoftBank, KKR, and TPG, Lenskart plans to scale across India and Southeast Asia. ADIA’s investment in 2023 marked one of the largest Gulf bets in the Indian consumer retail segment. The retailer launched UAE operations in 2021 and debuted in Saudi Arabia in 2022.

The offer, priced between INR 382-402 per share, opens for anchor investors on 30 October and to the public from 31 October to 4 November, The Hindu Businessline reports. Lenskart’s valuation, pegged at USD 5 bn last year, was recently marked up to USD 6.1 bn.

Expansion, tech, and brand growth: Proceeds will fund expansion of company-owned stores, lease payments, technology and cloud investments, and brand marketing. Remaining funds will go toward acquisitions and general corporate purposes. Kotak Mahindra Capital, Morgan Stanley, Avendus, and Citigroup are among the lead managers, with MUFG Intime India as registrar.

Lenskart joins a wave of blockbuster listings that have pushed the Indian IPO market toward a record year, with companies already raising USD 16 bn (INR 1.4 tn) in 2025.