Lenskart IPO Sees Strong Demand as Grey Market Premium Remains Positive

As of November 4, 2025, Lenskart Solutions Limited’s initial public offering (IPO) has garnered significant investor interest, with the subscription period concluding today. The IPO, which opened on October 31, aims to raise ₹7,278.02 crore, comprising a fresh issue of ₹2,150 crore and an offer for sale (OFS) of ₹5,128.02 crore.

Subscription Status and Investor Response

By November 3, the IPO was oversubscribed 2.01 times. Retail investors led the charge with a subscription rate of 3.33 times, while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) recorded oversubscription rates of 1.64 times and 1.88 times, respectively. This robust demand underscores the market’s confidence in Lenskart’s growth prospects.

Grey Market Premium Indicates Positive Sentiment

In the grey market, Lenskart’s shares are trading at ₹461 each, reflecting a premium of ₹59 or 14.68% above the upper end of the ₹402 price band. Although the Grey Market Premium (GMP) has narrowed from ₹95 (a 23.63% premium) at the IPO’s opening, it remains positive, signaling continued investor optimism.

Financial Performance and Future Plans

For the fiscal year ending March 31, 2025, Lenskart reported a total income of ₹7,009.28 crore, marking a 24% increase from the previous fiscal year. The company achieved a net profit of ₹297.34 crore, a significant turnaround from a net loss of ₹10.15 crore in the preceding year. The proceeds from the fresh issue are earmarked for expanding company-owned stores, upgrading technology infrastructure, and enhancing brand marketing initiatives.

Allotment and Listing Timeline

The basis of allotment is expected to be finalized on November 6, with shares anticipated to list on both the BSE and NSE on November 10, 2025. Investors are keenly awaiting the listing, given the strong subscription figures and positive grey market indicators.