Lenskart IPO Sees Robust Subscription Amid Positive Market Sentiment
As of November 4, 2025, Lenskart Solutions Ltd.’s initial public offering (IPO) has garnered significant investor interest, with the subscription period concluding today. The ₹7,278.02 crore IPO, which opened on October 31, comprises a fresh issue of ₹2,150 crore and an offer for sale of ₹5,128.02 crore. The price band is set between ₹382 and ₹402 per share, with a lot size of 37 shares.
Subscription Status and Investor Response
By November 3, the IPO was oversubscribed 2.01 times. Retail investors led the demand, with their portion subscribed 3.33 times. Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) showed strong interest, with oversubscription rates of 1.64 times and 1.88 times, respectively. The employee category saw a subscription of 0.86 times.
Grey Market Premium (GMP) Trends
The Grey Market Premium (GMP) for Lenskart’s IPO has remained positive throughout the subscription period. As of November 4, the GMP stands at ₹55, indicating an expected listing price of ₹457 per share, which suggests a potential gain of approximately 13.68% over the upper price band of ₹402. Notably, the GMP has experienced fluctuations, peaking at ₹95 (a 23.63% premium) when the IPO opened on October 31, before settling at the current level.
Company Overview and Financial Performance
Founded in 2008 by Peyush Bansal, Lenskart has evolved into a leading technology-driven eyewear company, offering a wide range of products including prescription eyeglasses, sunglasses, contact lenses, and accessories. Operating on a direct-to-consumer model, the company has expanded its presence with over 2,500 stores across India, the Middle East, and Southeast Asia. In the fiscal year 2025, Lenskart reported a revenue of ₹7,009 crore and an EBITDA of ₹971 crore, reflecting a margin of approximately 14%. The company achieved a profit after tax of ₹297 crore, marking a turnaround from previous losses.
IPO Allocation and Listing Details
The IPO allocation is structured with 75% reserved for QIBs, 15% for NIIs, and 10% for retail investors. Eligible employees are offered a discount of ₹19 per share. The subscription period concludes on November 4, with the basis of allotment expected to be finalized on November 6. Lenskart shares are scheduled to list on both the BSE and NSE on November 10, 2025.
Proceeds from the fresh issue are earmarked for expanding company-owned stores, upgrading technology infrastructure, enhancing brand and marketing initiatives, and potential acquisitions. The strong subscription figures and positive GMP indicate robust market confidence in Lenskart’s growth trajectory and business model.
