Lenskart IPO to Open on October 31: Price Band, GMP, and Subscription Details Revealed
India’s leading eyewear brand Lenskart Solutions Ltd is gearing up for its much-anticipated initial public offering (IPO), opening for public subscription on October 31, 2025, and closing on November 4, 2025. With the price band fixed between ₹382 and ₹402 per share, the ₹7,278-crore public issue has already created significant buzz among retail and institutional investors.
At the upper end of the price band, Lenskart is seeking a valuation exceeding ₹69,700 crore, positioning it among the largest new-age consumer tech listings in India’s market history. The bidding for anchor investors is set to open on October 30, a day before the public issue begins.
Lenskart IPO: Key Details and Offer Structure
The Lenskart IPO comprises both a fresh issue of shares and an offer for sale (OFS) by existing shareholders. According to the offer structure,
75% of the issue is reserved for qualified institutional buyers (QIBs),
15% for non-institutional investors (NIIs), and
10% for retail investors.
The shares are expected to list on November 10, on both the BSE and NSE.
Founded in 2008 by Peyush Bansal, Lenskart started as an online eyewear platform in 2010 and has since evolved into a leading omnichannel retailer, with physical stores across metro, Tier-1, and Tier-2 cities in India, along with a growing footprint in Southeast Asia and the Middle East.
Lenskart IPO Valuation and Financial Performance
According to market analysts, Lenskart’s IPO valuation looks ambitious yet promising. At the upper price band of ₹402, the company’s valuation works out to 10.1x FY25 EV/Sales and 68.7x EV/EBITDA on a post-issue basis.
Analysts at SBI Securities noted that while the valuation appears stretched, the company’s scalable business model, strong brand recall, and the expanding domestic eyewear market offer long-term potential.
Lenskart has also shown notable improvement in profitability metrics over the past two years. The company’s EBITDA margin has increased from 7.0% in FY23 to 14.7% in FY25, reflecting operational efficiency and cost optimization.
Analysts advise investors to subscribe for the long term, particularly at the cut-off price, emphasizing that sustained profitability and market leadership will determine future returns.
Lenskart IPO GMP Today: Grey Market Premium Indicates Positive Sentiment
As of October 28, Lenskart’s IPO is witnessing strong interest in the grey market. According to data from Investorgain, the Lenskart IPO GMP (Grey Market Premium) stands at around ₹90 per share, implying a potential listing gain of over 22%.
This positive sentiment in the unlisted market suggests robust investor appetite ahead of the official subscription opening. Market experts, however, caution that GMP trends are subject to volatility and should not be the sole basis for investment decisions.
Business Overview: Lenskart’s Growth and Market Leadership
Lenskart has emerged as India’s largest organised retailer of prescription eyewear by B2C sales volume and is among the top two eyewear players in Asia. The company’s success lies in its technology-driven supply chain, AI-enabled virtual try-on tools, and direct-to-consumer business model, which help reduce costs and improve accessibility.
Over the past few years, Lenskart has diversified its offerings to include prescription glasses, sunglasses, contact lenses, and accessories, catering to both affordable and premium segments. Its strategic partnerships and acquisitions — including stakes in global eyewear brands — have further strengthened its global presence.
The company’s expansion into Southeast Asia and the Middle East has allowed it to tap into underpenetrated markets, driving steady growth in revenue and customer base.
Market Outlook: The Future of the Eyewear Industry
India’s eyewear industry is witnessing rapid transformation, driven by rising digital adoption, urbanization, and increasing health awareness. According to market reports, the domestic eyewear market is expected to grow at a CAGR of over 10% over the next five years.
As one of the few profitable consumer-tech startups, Lenskart’s scalable omnichannel model positions it well to capitalize on this expansion. The company continues to invest in AI-based lens manufacturing, supply chain automation, and international retail to strengthen its competitive advantage.
Should You Apply for the Lenskart IPO?
While Lenskart’s valuation appears premium, experts believe its long-term fundamentals remain strong. Investors looking for exposure to a high-growth, consumer-driven brand in the new-age retail segment may find the IPO worth considering.
However, those seeking short-term listing gains should be mindful of the stretched valuation and intense competition in the eyewear space. As always, experts recommend a balanced approach, with a focus on long-term growth potential rather than speculative gains.
Lenskart IPO Key Dates at a Glance
| Event | Date |
|---|---|
| IPO Open Date | October 31, 2025 |
| IPO Close Date | November 4, 2025 |
| Anchor Bidding Date | October 30, 2025 |
| Allotment Date | November 8, 2025 |
| Listing Date | November 10, 2025 |
