Lenskart IPO Closes on Nov 4: ₹7,278 Crore Issue at ₹382–₹402 Price Band: Listing Trend Points to ~21% Upside

Mumbai | November 3

India’s largest organised eyewear retailer Lenskart Solutions Ltd is closing its highly-anticipated ₹7,278-crore initial public offering (IPO) on Tuesday, November 4, after attracting robust investor interest across institutional and retail categories. The IPO, which opened for subscription on October 31, has already crossed full subscription and is emerging as one of the most significant consumer-tech listings of the year.

IPO Snapshot and Valuation

The Lenskart IPO price band is fixed at ₹382 to ₹402 per share, valuing the company at around ₹69,700 crore at the upper end. The offer comprises:

• Fresh Issue: ₹2,150 crore (to fund expansion and capital projects)
• Offer for Sale (OFS): 12.75 crore shares worth ≈₹5,128 crore by promoters and early investors

Existing shareholders participating in the OFS include founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with global backers such as SoftBank Vision Fund II, Schroders Capital Private Equity Asia, Kedaara Capital Fund II LLP, PI Opportunities Fund II, MacRitchie Investments Pte Ltd, and Alpha Wave Ventures LP.

Each lot comprises 37 shares, translating into a minimum retail investment of ₹14,874 at the upper band. The issue is expected to raise around ₹7,278 crore in total proceeds.

Use of Proceeds and Strategic Focus

The funds from the fresh issue will be used for:

• Expanding company-owned, company-operated (CoCo) stores across India
• Lease and rental commitments for new retail spaces
• Technology and cloud infrastructure investment
• Brand marketing and visibility campaigns
• Potential acquisitions and general corporate purposes

These investments underline Lenskart’s vision of scaling its omnichannel network and strengthening its technological moat amid India’s rapidly formalising eyewear industry.

Business Overview

Founded in 2010 by Peyush Bansal, Lenskart has evolved from a digital start-up to a consumer tech powerhouse with a global footprint. The company currently operates over 2,700 stores worldwide, including 2,067 in India, and is among Asia’s largest eyewear chains by volume.

Its vertically integrated model — from design and manufacturing to last-mile delivery — has enabled cost control and consistency in quality. A blend of digital analytics, AI-driven recommendations and physical presence has given Lenskart a distinct edge in customer acquisition and retention.

IPO Timeline and Allotment Schedule

• Issue opens: October 31, 2025
• Issue closes: November 4, 2025
• Basis of allotment: November 6, 2025
• Refunds / Share credit: November 7, 2025
• Listing date: November 10, 2025 (on BSE and NSE)

Investor Response and Subscription Trends

By Day 2, the IPO was booked 1.19 times, driven by strong retail and institutional demand. Analysts say investor sentiment has been buoyed by Lenskart’s clear growth visibility, profitable domestic operations and rising international ambitions in markets like the Middle East and Southeast Asia.

The company’s asset-light expansion strategy and its ability to deliver affordable eyewear through direct-to-consumer channels are key drivers of valuation confidence. However, analysts note that margin improvement and consistent execution will remain critical for long-term shareholder returns.

Grey Market Premium (GMP): Signals Strong Debut

As of Monday, the Lenskart IPO GMP stood around ₹85 per share over the upper price band of ₹402. This implies an expected listing price near ₹487, indicating a potential 21% premium on the bourses.
Market participants say the GMP trend reflects bullish sentiment around India’s consumption and retail growth story. While grey-market activity is not an official indicator of listing performance, it often captures short-term trading momentum and investor appetite ahead of debut.

Investor Takeaway

The Lenskart IPO offers a blend of strong consumer franchise, digital scale, and visible growth potential — balanced against a premium valuation and execution risk.
For short-term traders, the current GMP suggests healthy listing gains. For long-term investors, the company’s ability to defend margins while scaling globally will be the key determinant of value creation.

Lenskart’s market debut on November 10 will be closely watched as a barometer for investor confidence in India’s new-age consumer tech listings.

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Disclaimer: The Grey Market Premium (GMP) is an unofficial indicator of investor sentiment and is not regulated by SEBI. It should not be considered the sole basis for investment decisions.