Two big names from completely different sectors- Lenskart, India’s eyewear powerhouse, and Studds Accessories, a leader in motorcycle helmets are hitting the markets around the same time. But which IPO deserves your attention?
Although both these companies enjoy brand recognition in their respective segments, their IPO structures, objectives, and growth potential tell two very different stories.
Let’s take a look at the key details every investors need to know before placing their bets –
Lenskart Vs Studds Accessories IPO: The issue size and structure
Talking about Lenskart IPO, it is a mix of fresh issue and offer for sale (OFS). It is a bookbuilt issue of Rs 7,278.02 crores.
Alongside, promoters and early investors including Peyush Bansal, Neha Bansal, Kedaara Capital, and Alpha Wave Ventures will sell over 12.75 crore shares in the OFS.
Now coming to Studds Accessories IPO, it is a pure OFS worth Rs 455 crore, with promoters and existing shareholders cashing out. The company won’t receive any proceeds. This means that there is no capital infusion to fund future expansion.
Lenskart Vs Studds Accessories IPO: Price band, lot size, and retail reach
The eyewear powerhouse has fixed its price band at Rs 382–402 per share, with a lot size of 37 shares. Retail investors can start with a minimum investment of Rs 14,874 at the upper price band.
Meanwhile, Studds Accessories has fixed a price band of Rs 557–Rs 585 per share and a lot size of 25 shares. This translates to a minimum investment of Rs 14,625.
Lenskart Vs Studds Accessories IPO: Eyewear vs Helmet
Lenskart is among India’s largest omni-channel eyewear retailers. The company offers prescription glasses, sunglasses, and contact lenses through its website, app, and over 2,000 stores. Since its launch in 2010, it has revolutionised the eyewear market with its “click-and-brick” model and data-driven design innovations.
Studds Accessories, on the other hand, represents India’s homegrown manufacturing strength. The company was founded in 1975. It has become one of the largest two-wheeler helmet and motorcycle accessory makers in the country, selling products under the ‘Studds’ and ‘SMK’ brands.
Lenskart Vs Studds Accessories IPO: Financial performance of the company
Looking at the past three financial years performance of Lenskart, its revenue has shown steady growth. The company posted revenue of Rs 6,652.52 crore in FY25, up from Rs 5,427.70 crore in FY24 and Rs 3,788.03 crore in FY23. This translates to a 22.6% rise in FY25 and a 43.3% jump in FY24.
On the other hand, in FY25 Studds Accessories net profit rose to Rs 69.64 crore from Rs 57.23 crore in FY24, while revenue climbed to Rs 556.71 crore from Rs 485.56 crore. Even in the June 2025 quarter, Studds posted a profit of Rs 20.25 crore.
Lenskart IPO Vs Studds Accessories IPO: The expert take
SBI Securities, in its IPO note on Lenskart, said, “As per the historical track record, the company has consistently improved its reported EBITDA margin (7.0% in FY23 to 14.7% in FY25) and incremental improvement will be keenly tracked by the investors. We recommend investors to ‘Subscribe’ to the IPO for long term at the cut-off price.”
In comparison, “at the upper price band of Rs 585, Studds Accessories is valued at FY25 PE of 33.1x on post issue capital. We recommend investors to Subscribe to the issue at the upper price band,” said SBI Securities in its IPO note.
