Lenskart Solutions Limited has announced the incorporation of a new step-down subsidiary in the United Kingdom, marking a significant expansion of its international retail operations. The Board of Directors of Stellio Ventures, S.L., a subsidiary of Lenskart Solutions Limited, approved the incorporation of Stellio Ventures UK LTD on December 26, 2025.

Corporate Structure and Ownership

The new subsidiary will operate under a clear corporate hierarchy, with specific ownership arrangements that maintain Lenskart's strategic control.

Business Objectives and Market Focus

The newly incorporated entity has been established with a specific strategic purpose in the UK eyewear market. Stellio Ventures UK LTD will focus on establishing and operating retail stores throughout the United Kingdom for the sale of eyewear products and related accessories under the 'Meller' brand. The company will operate within the retail eyewear industry, leveraging Lenskart's expertise in eyewear retail and brand management.

Financial Investment Details

The incorporation involves a structured financial commitment from the parent company, with provisions for future expansion.

Regulatory Compliance

Lenskart Solutions Limited has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received intimation from Stellio Ventures regarding the subsidiary incorporation on December 26, 2025, and promptly communicated this development to the National Stock Exchange of India Limited and BSE Limited. The disclosure includes comprehensive details as required by SEBI Circular no. SEBI/HO/CFD/CFD-PoD2/CIR/P/2024/185 dated December 31, 2024.

This strategic expansion into the UK market represents Lenskart's continued international growth strategy, utilizing its established subsidiary structure to enter new geographical markets with targeted brand positioning.

Lenskart Solutions has received positive analyst attention as Avendus Spark initiated coverage with an 'Add' rating and a target price of ₹490.00. However, the brokerage's target implies only 10% upside potential from current levels, suggesting limited near-term price appreciation despite the positive recommendation.

Stock Performance and Market Position

Shares of Lenskart have gained 12% from their issue price of ₹402.00 per share but have corrected nearly 10% from their post-listing high of ₹495.00. The stock ended Wednesday's trading session 3.60% lower at ₹448.95, reflecting recent volatility following the initial public offering enthusiasm.

Analyst Coverage Overview

According to current analyst coverage, sentiment remains largely positive for the stock. The coverage breakdown shows strong institutional support:

Five analysts now provide coverage on Lenskart, with the majority maintaining optimistic outlooks despite varied price targets.

Business Model and Strategic Advantages

Avendus Spark emphasized that Lenskart's manufacturer-to-consumer (M2C) business model addresses multiple industry challenges simultaneously. The approach tackles traditional category constraints including awareness, affordability, and accessibility while solving business limitations around assortment, quality, scalability, and supply chain agility.

The company is leveraging proprietary technology to enhance operational agility, network expansion, and customer conversion rates. Lenskart operates an omni-channel network of over 2,200 stores and provides free in-store and remote eye testing services, with rapid fulfillment capabilities offering next-day delivery across 59 cities.

Financial Performance and Growth Projections

In its first quarterly performance post-listing, Lenskart demonstrated strong operational metrics:

Avendus expects Lenskart's consolidated revenue to grow at a compound annual growth rate of 21% over FY25-28, with EBITDA margin expansion of 550 basis points during the same timeframe.

International Expansion Strategy

The brokerage noted that Lenskart is replicating its India playbook to scale globally, expanding into international markets including Japan, Singapore, Thailand, and the UAE. This geographic diversification strategy aims to capitalize on aging populations, premiumization trends, and insurance-backed prescription demand in these markets.