Picture this: you build a company in your bedroom, and one day, it becomes the largest eyewear brand in India. That’s the Lenskart story. Its IPO isn’t only about raising money; it’s about proving whether India’s biggest internet-based brands can deliver real profits on the stock market. The response so far has been massive, with the ₹7,278 crore IPO already attracting huge demand. Investors are curious: Will Lenskart’s valuation, grey market premium, and buzz stand the test?
Lenskart’s Growth Story: From Startup to Market Leader
Lenskart started out as an online-only eyewear retailer. Over the years, it has grown into India’s biggest name in eyeglasses and sunglasses, with over 2,700 stores worldwide and a major production facility in Rajasthan.
A Winning Mix of Online and Offline Sales: Lenskart’s “omnichannel” strategy means you can buy from its website, app, or a physical store across India, Southeast Asia, or even the Middle East.
Smart Manufacturing: Its Bhiwadi plant is highly automated, helping Lenskart deliver more products at lower costs, improving margins and quality at the same time.
Recent Profits: For FY25, Lenskart’s revenue jumped to about ₹6,653 crore (a rise of over 22%), with net profit reaching ₹297 crore-impressive after posting a loss the previous year.
Leading the Market: Lenskart now holds the top market share for prescription glasses in India, thanks to aggressive expansion and making eyewear more affordable and available.
This explosive rise has brought Lenskart to its current IPO-seen as a milestone not only for the company but for all of India’s consumer-tech sector looking for validation in the stock market.
Lenskart IPO: Key Details Every Investor Needs to Know
Details
Lenskart IPO
Issue Size
₹7,278.02 crore
Fresh Issue
₹2,150 crore
Offer for Sale (OFS)
₹5,128 crore
Price Band
₹382–₹402 per share
Lot Size
37 shares (~₹14,874 min)
IPO Dates
Oct 31 – Nov 4, 2025
Tentative Listing Date
Nov 10, 2025
Exchanges
BSE, NSE
Anchor Investors
₹3,268 crore raised at ₹402/share
Retail Quota
10%
Where Is the Money Going? Fresh funds will help expand stores, boost tech and cloud infrastructure, and support general business needs. The remaining shares (Offer for Sale) allow early backers and founders to cash out.
Investor Interest and Subscription Status
By Day 2, the IPO saw healthy interest:
– Retail-over 1.82x subscribed
– QIB (Institutional)-1.42x subscribed
– Non-Institutional-0.73x subscribed
– Employees-1.49x subscribed
Overall, the IPO is about 1.3x oversubscribed midway through and likely to close even higher.
Big Mutual Funds Onboard: Global names like Fidelity, BlackRock, T. Rowe Price, along with Indian stalwarts SBI, HDFC, and Axis, have all picked up anchor stakes, backing Lenskart’s growth.
Retail Investor Frenzy: Many individuals are keen, believing that the listing will produce decent returns in the short term. However, some experts caution against excessive optimism.
What’s Behind the Numbers and Trends?
Strong Sales, Rebounding Margins: With sales and profits rising, Lenskart’s valuation looks justified for some, though not all analysts agree.
Grey Market Premium (GMP): Initially, the GMP soared above ₹100-the premium investors were willing to pay over the IPO price. It has fallen to ₹46–₹63 more recently, still indicating positive sentiment but also cooling expectations for immediate post-listing profits.
High Valuation Debate: With a valuation at the upper end nearing ₹70,000 crore (~$8 billion) and a P/E above 200x, there’s concern about whether the stock price is running too far ahead of business fundamentals.
Accounting Profits vs. Real Profits: Some of the reported profit for FY25 came from one-off accounting items-not yet from repeated, core business growth.
Risks: Lenskart depends on imports for some frames and lenses, making it vulnerable to supply chain disruptions. Auditor reports also flagged areas like inventory control as risk factors. There are also significant ongoing legal proceedings involving the company.
Where Does Lenskart Stand?
Lenskart dominates the prescription eyeglasses market and is pushing into smaller Indian cities and overseas markets. Its direct-to-consumer model and data-driven design put it ahead of traditional eyewear chains.
When Should You Act?
Key dates for investors:
Subscription closes: November 4, 2025
Allotment: November 6, 2025
Tentative listing: November 10, 2025
Given high demand, check your broker app after the close for lottery outcomes and watch for allotment emails.
Why Exercise Caution?
Expensive Stock: High IPO pricing has tripped up other Indian tech stocks in the past-hopes for long-term gains rest on consistent profit growth.
GMP Cooling: Less short-term listing gain expected compared to the IPO frenzy of 2021–22.
Market Timing: The IPO lands when broader investor mood is turning cautious, especially around costly tech plays.
How Should Investors Decide?
For Quick Gains: Expect moderate returns, not wild pops.
For the Long Haul: Only invest if you believe in Lenskart’s ability to keep growing and turning a real, recurring profit. Make it a small slice of your portfolio.
Or, Watch and Wait: Many experienced investors recommend waiting for the stock to list and prove itself before buying in.
Lenskart IPO Subscription Status by Investor Category
Market Impact: How Lenskart’s Listing Shapes the Indian IPO Scene
Lenskart’s IPO offers more than just cash for the company:
Setting a New Benchmark: If successful, it may boost confidence in India’s consumer tech startups looking to go public, opening doors for other digital brands.
Boosting Retail Participation: More people investing in IPOs helps deepen India’s equity markets.
Attracting Global Investors: The participation of premier global funds highlights India’s growing appeal as a destination for global capital.
A Mixed Signal: Some heavyweights chose to skip the IPO, showing that the market is becoming more disciplined and less blinded by hype.
What’s Next for Lenskart and IPO Investors?
The real challenge begins after listing. For Lenskart to justify its premium price, it needs to:
Continue delivering real profit growth (not just one-time gains)
Show positive cash flows each quarter
Expand globally without losing efficiency and quality
If it checks these boxes, Lenskart could lead the way for future consumer IPOs. Otherwise, its pricey stock may correct over time.
₹382–₹402 per share; retail investors need to invest at least ₹14,874 (37 shares).
When is the IPO listing date?
November 10, 2025, on BSE and NSE.
What’s the current GMP (Grey Market Premium)?
Around ₹46–₹63, suggesting a potential listing price between ₹448 and ₹465 per share, but this isn’t guaranteed.
Should I buy this IPO?
Short-term gains may be modest. For long-term investment, only consider if you trust Lenskart’s future profit growth and business model.
What are the big risks?
High valuation, reliance on imported materials, profit quality, legal issues, and some flagged controls by auditors.
Abu Zain
I'm an intraday trader with a strong interest in the stock market. I follow Nifty 50, Bank Nifty, and F&O segments closely and enjoy tracking daily price movements and market trends. Trading for me is more than just buying and selling, it's about understanding the market, learning every day, and sharing those insights with others. Through my blogs, I try to make stock market updates simple, useful, and easy to follow for fellow traders and investors.