Lenskart IPO Day 3: Subscription Crosses 5x As Investor Interest Soars
So the Lenskart IPO is turning heads on Dalal Street. Today marking the third day of bidding, the eyewear giant’s public issue was subscribed an impressive 5 times, reflecting strong investor confidence.
Retail investors showed keen interest with their quota booked 4.94 times, while Non-Institutional Investors (NIIs) subscribed 6.66 times and Qualified Institutional Buyers (QIBs) pitched in at 4.21 times. Even the employee quota saw healthy demand at 3.66 times.
According to BSE data (as of 12:21 IST), Lenskart received 49.92 crore bids against 9.97 crore shares on offer. The IPO, which opened on October 31, will close on November 4, giving investors one last chance to participate.
With solid demand across investor categories and a strong brand presence in the eyewear segment, all eyes are now on Lenskart’s listing performance and whether it will meet investor expectations.
Lenskart IPO GMP Now Premium Hints 14% Listing Gain
The grey market premium (GMP) of the Lenskart IPO is ₹59, which would translate to a listing price of approximately ₹461 per share, which is almost 14.7% higher than the upper issue price of ₹402.
The GMP of Lenskart has been slightly volatile over the last nine trading days, with the lowest and highest values being ₹48 and ₹108, respectively. The recent cooling of the premium indicates that investors have grown cautious after initial excitement. Nevertheless, the management of the continuously growing demand is an indication of high confidence in the market before the highly anticipated listing of the stock begins on November 10.
Lenskart IPO Price Band and Schedule
The price band for the Lenskart IPO is set between ₹382–₹402 per share, targeting a valuation of ₹69,700 crore at the upper end.
- IPO Subscription Period: October 31 to November 4
- Basis of Allotment: November 6
- Refunds Initiation: November 7
- Listing Date (Tentative): November 10 on BSE and NSE
The company has offered a ₹19 discount per share for eligible employees.
Lenskart IPO Allotment Structure
- Qualified Institutional Buyers (QIBs): 75% of total offer
- Non-Institutional Investors (NIIs): 15%
- Retail Investors: 10%
- Employees: ₹19 per share discount
Lenskart IPO Review: Analyst Recommendations
SMIFS View:
- Highlights Lenskart’s strong technology-driven advantages:
- AI-powered remote optometry with 13.45 million+ eye tests
- AR virtual try-on feature with 100 million+ app downloads
- Machine learning–based site selection reducing store payback to 10.29 months (vs industry average of 18 – 24 months)
- Recommends “Subscribe”, citing profitability recovery, strong growth prospects, and a robust tech edge.
SBICAP Securities View:
- Says Lenskart is well-positioned in India’s underpenetrated eyewear market.
- EBITDA margin improved from 7.0% (FY23) to 14.7% (FY25).
- Recommends long-term subscription at the cut-off price, expecting further profitability gains.
Lenskart IPO Utilization Of Funds
Lenskart aims to raise ₹2,150 crore through a fresh issue, alongside an Offer-for-Sale (OFS) of 12.75 crore shares from promoters and investors.
Key Objectives:
- Open 620 new Company-Owned & Company-Operated (CoCo) stores.
- Cover rental, lease, and license costs.
- Invest in technology, cloud services, and brand promotion.
- Explore acquisitions and meet general corporate needs.
(With Inputs)
Also Read: Is This The Great Escape Of Vi? Supreme Court Twist Opens Door To ₹80,000…..
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
Always bold with her opinions, she also never misses the chance to weave in expert voices, keeping things balanced and insightful. In short, Aishwarya brings a fresh, sharp, and fact-driven voice to every story she touches.
