Lenskart’s IPO is a major event in India’s capital markets, with all key information now available—including issue details, latest Grey Market Premium (GMP), financial breakdown, important dates, market sentiment, and expert opinions. Here is a comprehensive overview of everything relevant to the Lenskart IPO as of October 31, 2025.
GMP has fluctuated sharply in recent days (from ₹120 to ₹48), reflecting uncertainty over the valuation pegged at ₹70,000 crore and broader market sentiment.
Subscription & Issue Structure
Subscription Window: October 31 to November 4, 2025 (5 days).
Lead Managers: Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup, Axis Capital, Intensive Fiscal Services.
Registrar: MUFG Intime India.
Financials & Background
Company Profile: Founded by Peyush Bansal, Lenskart Solutions Ltd is India’s largest omnichannel eyewear retailer and a leader in the organized prescription eyeglasses market in Asia.
Retail Reach: Over 2,000 stores in India, Southeast Asia, and the Middle East.
Employee Discount: ₹19 per share for eligible bids.
Minimum Investment:
Retail: ₹14,874 per lot (37 shares).
Small NIIs: 14 lots (518 shares/₹2,08,236).
Big NIIs: 68 lots (2,516 shares/₹10,11,432).
Market Sentiment & Expert Insights
Despite wide interest, debate continues about steep IPO valuations, reflected in GMP volatility.
Lenskart’s brand strength and retail footprint are positive indicators, but analysts warn of a stretched valuation and urge investors to exercise due diligence.
Important Dates & Timeline
Event
Date
IPO Open
October 31, 2025
IPO Close
November 4, 2025
Allotment
November 6, 2025
Listing
November 10, 2025
Refunds/Credit
November 7, 2025
Summary Table
Lenskart’s IPO is a major event in India’s capital markets, with all key information now available—including issue details, latest Grey Market Premium (GMP), financial breakdown, important dates, market sentiment, and expert opinions. Here is a comprehensive overview of everything relevant to the Lenskart IPO as of October 31, 2025.chittorgarh+7
GMP has fluctuated sharply in recent days (from ₹120 to ₹48), reflecting uncertainty over the valuation pegged at ₹70,000 crore and broader market sentiment.bigul+2
Subscription & Issue Structure
Subscription Window: October 31 to November 4, 2025 (5 days).financialexpress+3
Lead Managers: Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup, Axis Capital, Intensive Fiscal Services.financialexpress
Company Profile: Founded by Peyush Bansal, Lenskart Solutions Ltd is India’s largest omnichannel eyewear retailer and a leader in the organized prescription eyeglasses market in Asia.moneycontrol+1
Retail Reach: Over 2,000 stores in India, Southeast Asia, and the Middle East.jmfinancialservices
Big NIIs: 68 lots (2,516 shares/₹10,11,432).bigul
Market Sentiment & Expert Insights
Despite wide interest, debate continues about steep IPO valuations, reflected in GMP volatility.ndtvprofit+1
Lenskart’s brand strength and retail footprint are positive indicators, but analysts warn of a stretched valuation and urge investors to exercise due diligence.ndtvprofit
Lenskart’s IPO valuation has sparked considerable debate due to its aggressive pricing, especially relative to its profitability and market peers. Market reaction is equally divided, with institutional enthusiasm contrasting retail investor caution and expert skepticism.
Valuation Analysis
Valuation Metrics:
Market Cap: ₹70,000 crore (≈ $8.5 billion) at the upper price band.
Price-to-Earnings (P/E): 228–237x FY25 EPS.
EV/Sales: 10–10.1x; EV/EBITDA: 45–68x TTM.
Comparisons: Competitor Titan trades at 88x PE; most Indian retail/lifestyle stocks range 85–110x.
Profitability:
Lenskart became PAT-positive only in FY25, reporting ₹297 crore net profit.
Margins have grown: EBITDA margin improved from 7% (FY23) to 14.7% (FY25).
Business Model & Growth:
Omnichannel retail strategy, strong tech adoption, and international expansion underpin bullish projections.
Brokerages term the valuation “expensive” and recommend subscription only for high-risk, long-term investors.
Veteran investor Shankar Sharma called the offering “overvalued,” raising doubts about sustainability for retail investors.
Market Reaction
Grey Market Premium (GMP):
GMP started high at ₹120, dipped to ₹48–74 before listing, reflecting shifting sentiment.
Implies anticipated 12–18% listing gains, but premium halved as valuation concerns spread.
Subscription Trends:
Strong anchor/institutional interest; anchor book reportedly oversubscribed up to ₹68,000 crore.
Retail response has been cautious—valuation perceived as aggressive, and recent volatility has increased hesitation.
Investor Feedback:
Mixed reactions: Institutional investors chasing growth, but retail and experts wary of stretched multiples and recent profit track record.
Market observers suggest monitoring profitability and successful execution post-listing, as fundamental value may take time to realize.
Peer Comparison Table
Company
Market Cap (Cr)
P/E Ratio
EV/Sales
EV/EBITDA
Profitability Status
Valuation Commentary
Lenskart
70,000
230–237x
10x
45–68x
PAT-positive FY25
“Aggressive, future-driven”
Titan Eye+
~90,000
88x
7x
30x
Profitable >5 years
“Premium, but matured”
Avenue Supermarts (DMart)
~2,55,000
110x
9x
35x
Profitable >8 years
“High, but justified”
In-Depth Sentiment & Outlook
Lenskart’s IPO is seen as a “high-risk, high-potential” bet, mainly for investors who believe in strong long-term growth story and market formalization.
While Lenskart’s expansion, innovative business model, and increasing margins are positive, its aggressive valuation in relation to current profitability sets a high bar for future execution.
The issue highlights a broader debate about tech and consumer IPO valuations in India, with concerns about sustainability and retail investor risk.
