Lenskart IPO: Eyewear company Lenskart Solutions Ltd will launch its initial public offering (IPO) on October 31 to raise over ₹7,200 crore from the primary markets. Lenskart IPO will remain open for subscription till November 4.
Lenskart is India’s largest and amongst the top two players in Asia in the organized retailers of prescription eyeglasses in terms of B2C eyeglasses sales volumes.
Lenskart IPO price band has been fixed at ₹382 to ₹402 per share. At the upper-end of the price band, the Peyush Bansal-led company aims to raise ₹7,278.02 crore from the public issue which is a combination of fresh issue of 5.35 crore equity shares worth ₹2,150 crore, and an offer-for-sale (OFS) component of 12.76 crore shares amounting to ₹5,128.02 crore.
The equity shares of Lenskart Solutions will be listed on both the stock exchanges, BSE and NSE, with a tentative Lenskart IPO listing date fixed as November 10, 2025.
Axis Capital, Kotak Mahindra Financial, Morgan Stanley India, Avendus Capital, Citigroup Global, and Intensive Fiscal are the book running lead managers, while MUFG Intime India Pvt. Ltd. is the Lenskart IPO registrar.
Ahead of the Lenskart IPO opening, the trends in the grey market premium (GMP) for Lenskart shares remains strong. Here’s a look at what Lenskart IPO GMP today signals:
Lenskart IPO GMP Today
Lenskart shares are commanding a decent GMP today. According to portals tracking the grey market, Lenskart IPO GMP today is ₹70 per share. This indicates that in the grey market, Lenskart shares are trading higher by ₹70 apiece than their issue price.
Lenskart IPO GMP today signals that the stock is trading at ₹472 apiece in the grey market, a premium of 17.41% to the issue price of ₹402 per share.
Lenskart IPO Review
At the upper band of ₹402, the Lenskart IPO is valued at FY25 EV/Sales and EV/EBITDA multiples of 10.1x and 68.7x, respectively, based on post-issue capital, according to SBI Securities.
“Valuation of Lenskart seems to be stretched and hence listing gain is likely to be muted. However, looking at the robust business model, the company is well placed to encash on the fast-growing domestic organized underpenetrated eyeglasses market. Moreover, as business scales up, there is scope of improvement in profitability over the medium to long term,” said the brokerage firm.
Meanwhile, listed international peers have robust margin profiles and going forward, the street will keenly track the path to profitability for Lenskart too. As per the historical track record, the company has consistently improved its reported EBITDA margin and incremental improvement will be keenly tracked by the investors, it added.
SBI Securities recommends investors to ‘subscribe’ to Lenskart IPO for long term at the cut-off price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
