Lenskart IPO Day 1: The initial public offering (IPO) of Lenskart Solutions Limited has hit the Indian primary market today and will remain open until November 4, 2025. The subscription period will be from 31 October to 4 November 2025. The tech-focused eyewear company has declared the Lenskart IPO price from ₹382 to ₹402 per equity share. The book building issue is proposed for listing on the BSE and the NSE. The company aims to raise ₹7,278.02 crore from the Lenskart IPO, which is a mix of fresh shares and offer for sale (OFS).
Lenskart IPO GMP today
Ahead of the Lenskart IPO subscription opening, shares of the company are available in the grey market. According to market observers, Lenskart shares are available at a premium of ₹48 in the grey market today. So, today is ₹48, which signals a 12% listing gain for the potential investors.
Lenskart IPO valuations
Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities, explained that Lenskart is reportedly seeking a valuation of around ₹70,000 crore from its upcoming IPO a level that appears priced for future profits, which remain uncertain given its current financial profile. Despite strong revenue growth, the company’s profit margins are still thin, constrained by high marketing and customer acquisition costs, as well as ongoing investments in offline expansion and logistics infrastructure.
Lenskart IPO details
1] : According to market observers, shares of the company are available at a premium of ₹48 in the grey market today.
2] : Bidding for the public issue has opened today and will remain open until 4 November 2025.
3] Lenskart IPO price: The eyewear company has declared a price band of the public issue at ₹382 to ₹402 apiece.
4] Lenskart IPO size: The company aims to raise ₹7,278.02 crore from its public issue, out of which ₹2,150 crore is aimed through the fresh shares. The remaining ₹5,128.02 crore is reserved for the OFS.
5] Lenskart IPO lot size: A bidder will be able to apply for the public issue in lots, and one lot of the book build issue comprises 37 company shares.
6] Lenskart IPO allotment date: The most likely date for share allotment is 6 November 2025.
7] Lenskart IPO registrar: MUFG Intime India Private Limited has been appointed the official registrar of the public issue.
8] Lenskart IPO lead managers: Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services have been appointed lead managers of the book build issue.
9] Lenskart IPO listing date: The most likely date for share listing is 10 November 2025.
Lenskart IPO: Apply or not?
10] Lenskart IPO review: Assigning a ‘subscribe’ tag to the public issue, Marwadi Financial Services says, “Considering the Annualised EPS – June 2025 of ₹1.41 on a post issue basis, the company is set to list at a P/E of approximately ~285x with a market cap of ₹69,741 Cr. There are no listed companies in India which operate in a similar business model to that of the company. We assign a “Subscribe (With Caution)” rating to this IPO, as the company is the largest seller of prescription eyeglasses in terms of volumes sold in India in FY25. However, the IPO is richly priced and the company will have to continue growing its business at a high growth rate to justify its valuation, which keeps us cautious from a long-term perspective.”
Ventura Securities has also given a ‘buy’ tag to the book build issue, saying, “Lenskart Solutions Limited reported significant growth, with revenue for FY25 reaching ₹6,652.5 cr., a substantial increase from the previous fiscal year. The company achieved a major financial turnaround, swinging from a net loss in FY24 to a Net Profit of ₹295.6 cr. in FY25. The company posted an EBITDA of ₹971.1 cr. in FY25, with an EBITDA margin of 14.7%, driven by strong sales growth and operational efficiencies.”
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