The public subscription for Lenskart’s IPO will remain open for three days and close on Tuesday, November 4, 2025. The company has set a price band of Rs 382 to Rs 402 per equity share (face value Rs 2 each). The IPO aims to raise fresh capital to fuel business expansion and provide an exit opportunity for early investors.
Backed by billionaire Radhakishan Damani, Lenskart’s IPO is one of the most anticipated in India’s fast-growing consumer tech sector this year. The anchor investor allocation is scheduled for Thursday, October 30. The lot size is set at 37 shares, with bids accepted in multiples of this number.
Lenskart Solutions GMP today
On October 30, 2025, the last recorded Gray Market Premium (GMP) for the IPO of Lenskart Solutions was Rs 48. Since the IPO is in the range of Rs 402 per share, this suggests an estimated listing price of around Rs 450, implying a potential gain of around 11.94% per share for investors if the shares trade at this level.
On October 27, the GMP was around 27%, or around Rs 108, indicating that the IPO premium has fallen sharply in just a few days. In simpler terms, the GMP indicates the additional amount that investors are willing to pay above the gray market IPO price, providing an early signal of potential stock market gains once the shares list.
IPO structure and fund allocation
The IPO of Lenskart Solutions is worth Rs 7,278.02 crore. It includes a fresh issue of 5.35 crore shares for an aggregate consideration of Rs 2.1 and an offer for sale of 12.76 crore shares worth Rs 5,128.02 crore. Proceeds from the new issue will be used to expand the company’s stores, upgrade its technology infrastructure and strengthen brand and marketing initiatives. Prior to the IPO, Lenskart received a pre-IPO investment of Rs 90 crore from Radhakishan Damani, reflecting strong investor confidence. Other prominent investors include SoftBank, Temasek, Kedaara Capital and Alpha Wave Ventures.
This IPO is expected to be the fourth largest in India by 2025, after Tata Capital, HDB Financial Services and LG Electronics. The public subscription opens on October 31, 2025 and closes on November 4, 2025, with the share allocation likely to take place on November 6, 2025 and the listing expected on November 10, 2025.
The issue allocation is structured as follows: 75% to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs) and 10% to retail investors. Eligible employees will receive a discount of Rs 19 per share on the IPO price.
Lenskart: building a global consumer brand
Founded in 2008 by Peyush Bansal, Lenskart started as an online eyewear platform and has since grown into an omnichannel retailer with over 2,500 stores across India, the Middle East and Southeast Asia. The vertically integrated model spanning design, manufacturing and retail enables affordable pricing, margin protection and scalable growth.
In FY25, Lenskart achieved 22% year-on-year revenue growth, driven by cost efficiency, stronger brand engagement and a technology-enabled business model.
Key shareholders and strategic plans
The Offer for Sale (OFS) includes shares of promoters Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi, along with institutional investors such as SoftBank Vision Fund II, Temasek, Schroders Capital, Kedaara Capital, Alpha Wave Ventures and PI Opportunities Fund.
Proceeds from the IPO are intended to support strategic initiatives, including expanding company-owned stores (CoCo), meeting lease and rental obligations and improving cloud and technology infrastructure. The funds will also be used to boost marketing efforts and pursue strategic acquisitions, further strengthening Lenskart’s growth trajectory and global ambitions.
Financial highlights
Eyewear retailer Lenskart Solutions achieved a strong financial turnaround in FY25, reporting a net profit of Rs 297 crore on revenues of Rs 7,009 crore, a significant recovery from a loss of Rs 10 crore in FY24.
Market outlook and valuation
Analysts expect strong growth in the Indian eyewear market, fueled by increasing screen time, urban lifestyles and growing awareness of eye care. A Jefferies report noted that Lenskart could benefit from rising vision problems, deeper market penetration and expanded health insurance coverage.
The IPO is expected to attract robust institutional interest, with the company targeting a valuation of around Rs 70,000 crore, implying a price-to-earnings (P/E) ratio of over 200x on a FY25 earnings basis.
According to SBI Securities, Lenskart’s IPO is priced at the top price band of Rs 402 at FY25 EV/Sales of 10.1x and EV/EBITDA of 68.7x. While the valuation may seem high and stock market gains may be modest, Lenskart’s strong business model positions the company well to capitalize on the pervasive organized eyewear market.
The company’s EBITDA margin improved from 7.0% in FY23 to 14.7% in FY25, reflecting steady operational efficiency. Analysts suggest subscribing to the IPO at the closing price for long-term potential, highlighting growth prospects and expected profitability improvements.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
#Lenskart #Solutions #IPO #opens #tomorrow #GMP #drops #invest