Lenskart IPO LIVE: ₹70 GMP Signals Strong Listing - 1.06x Subscribed so far! - Should You Apply or Avoid?
Lenskart IPO Day 1 LIVE: The public offering (IPO) for eyewear retailer Lenskart Solutions opens for subscriptions starting October 31 and will close on November 4.
Lenskart IPO Key Details
- IPO Dates: October 31 to November 4, 2025
- Price Band: ₹382 – ₹402 per share
- Issue Size: ₹2,150 crore (fresh) + OFS of 12.75 crore shares
- GMP Today: ₹70
- Valuation: ₹69,700 crore (upper band)
With strong investor interest on opening day, here’s how the subscription figures and business fundamentals of Lenskart IPO stack up so far:
Lenskart IPO subscription status was 69% on day 1. The retail portion was subscribed 1.08 times, and NII portion has been booked 28%, Qualified Institutional Buyers (QIBs) portion received 76% bids. Employee portion subscribed 93%.
The company has received bids for 6,86,66,968 shares against 1,59,99,104 shares on offer, at 14:45 IST, according to data on BSE.
In the OFS, promoters Peyush Bansal and others, along with investors like SoftBank, Kedaara Capital, and Alpha Wave Ventures, will sell part of their holdings. The IPO funds will mainly support new store openings and related expansion costs. Founded in 2008, Lenskart now operates across India and key overseas markets in Southeast Asia and the Middle East.
Competitive Strengths
- Centralized Supply Chain and Manufacturing Processes.
- Frame and Lens Engineering and Manufacturing Capabilities.
- Direct-to-consumer model.
- Customer-Focused Product Design Capabilities.
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- Lenskart Brand and Portfolio of Owned Sub-brands.
- Technology First Approach to Customer Experience and Operational Efficiency.
- Omnichannel Retail Network.
- Culture and Values.
- Category Leadership, Scale, and Track Record of Revenue and EBITDA Growth
Business Strategy
1. Increase Markets’ Penetration and, Expand Customer Access Across Channels.
2. Strengthen Manufacturing and Supply Chain Capabilities.
3. Continue to Innovate and Expand Product Portfolio.
4. Invest in New Technologies.
5. Continue to Enhance Customer Experience.
6. Continue to strengthen brand across markets.
Should you apply for Lenskart IPO?
According to SMIFS, the IPO proceeds of ₹21,500 million will fund 620 new CoCo stores plus internal accruals targeting 1,200+ total stores through FY26-FY28, positioning the company to deepen Tier-2/3 penetration. We recommend subscribing to the issue given.
Lenskart’s profitability recovery, 65% penetration headroom in India’s 777 million affected population, technology-led 10-month store payback, and sustainable competitive advantages offering compelling value creation in India’s fastest-growing eyewear retail sector, a high-risk, high-potential opportunity for long-term investors.
Strategic Store Expansion
Lenskart plans to use part of its IPO proceeds — about ₹864 crore — to open new company-owned stores across India and strengthen its retail network. Around ₹272 crore will go toward setting up these stores, while ₹591 crore is reserved for lease and rental costs to secure prime locations.
Overall, Lenskart’s IPO reflects strong brand power, tech-driven growth, and a clear expansion plan, though valuations remain on the higher side. Long-term investors may consider subscribing, while short-term traders should watch subscription trends and GMP before applying.
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