Lenskart Solutions is set to kick off a blockbuster phase for India’s primary markets, launching its Rs 7,278 crore IPO on October 31 at an expected valuation of Rs 72,719 crore.
Backed by SoftBank, Temasek, and Kedaara Capital, the eyewear retailer’s public issue includes a fresh share sale of Rs 2,150 crore and an offer-for-sale of 12.75 crore shares by promoters and investors.
The IPO opens to anchor investors on October 30, with public subscription running through November 4. Shares will list on the BSE and NSE on November 10. Neha Bansal, a co-founder, recently sold a 0.13% stake to Shrikanta R Damani – wife of DMart founder Radhakishan Damani – at Rs 402 per share, hinting at a likely IPO price.
Lenskart’s listing marks the start of a high-stakes fundraising spree. Over the next two months, four more major companies – Groww, Pine Labs, ICICI Prudential AMC, and boAt – are expected to raise nearly Rs 35,000 crore, riding a surge in market sentiment as the Nifty 50 trades near record highs.
Groww, the online brokerage platform with over 10 million active users, is planning a Rs 7,000-crore IPO in early November. Pine Labs, a digital payments firm, is also in the pipeline with a multi-thousand crore issue. Mutual fund major ICICI Prudential AMC and electronics brand boAt are both preparing to tap the market before year-end.
This rush follows the successful listings of LG Electronics India and Tata Capital, which together raised more than Rs 27,000 crore in recent weeks. While LG soared 50% on debut, Tata Capital’s muted listing has reminded investors that enthusiasm alone may not guarantee gains.
So far in 2025, Indian firms have raised over Rs 1 lakh crore via IPOs – the strongest run since 2021. A Kotak Equities note estimates that more than 200 companies are lining up to raise Rs 2.9 lakh crore ($35 billion) over the next year, confirming India’s spot among the world’s busiest IPO destinations.