Lenskart IPO Sees Strong Demand: Subscription Crosses 5x As GMP Indicates 14% Listing Premium, Here Is What You Need To Know

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)

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