According to market trackers, Lenskart shares are currently trading at a GMP (grey market premium) of around Rs 108 over the upper price band of Rs 402 per share, implying a possible listing price of Rs 510 and a 26.9% potential gain for early investors. This marks a sharp jump from last week’s 19% premium, underscoring the growing investor appetite for consumer-tech plays. The grey market premium (GMP) is an unofficial indicator of investor sentiment and may not accurately reflect the stock’s actual listing price.
The total issue size is estimated at around Rs 7,278 crore, comprising a fresh issue of Rs 2,150 crore and an offer for sale (OFS) of up to 12.75 crore shares by promoters and existing investors, amounting to about Rs 5,128 crore at the upper end of the price band.
The Rs 2,150-crore issue will open on October 31 and close on November 4, with a price band of Rs 382–402 per share (face value Rs 2 each). Investors can bid for a minimum of 37 shares and in multiples thereafter.The anchor investor allocation is slated for October 30, a day before the IPO opens to the public. Lenskart’s offering includes both a fresh issue and an offer for sale (OFS) — the latter allowing early backers to exit partially.
Fund Utilisation and Market Significance
Proceeds from the fresh issue will fuel store expansion, technology upgrades, and brand-building initiatives, as Lenskart aims to sharpen its omnichannel presence across India and international markets.This IPO is poised to be India’s fourth-largest public issue of 2025, following Tata Capital, HDB Financial Services, and LG Electronics, a testament to the growing allure of new-age retail companies on the bourses.
Backed by Big Names
The eyewear unicorn counts SoftBank, Temasek, Kedaara Capital, and Alpha Wave Ventures among its marquee investors. Notably, billionaire Radhakishan Damani, founder of DMart, recently made a Rs 90-crore pre-IPO investment, adding further credibility to Lenskart’s growth story.
Strong Financial Turnaround
Founded in 2008 by Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, Lenskart has transformed from a fledgling online eyewear platform into a retail powerhouse with over 2,500 stores across India, the Middle East, and Southeast Asia.
The company reported a net profit of Rs 297 crore in FY25, reversing a Rs 10 crore loss in FY24, while revenue surged to Rs 6,625 crore, marking a 22% YoY growth. Management attributes the turnaround to cost efficiency, tech integration, and brand engagement initiatives.
Share Allocation and Employee Benefits
According to the red herring prospectus, 75% of the IPO is earmarked for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors. Eligible employees will receive a discount of Rs 19 per share on the issue price.
The tentative share allotment is expected on November 6, with the listing likely to take place on November 10.
Analysts’ Take: Bright Outlook for Lenskart
Analysts are bullish on Lenskart’s growth trajectory. A recent Jefferies report noted that the company is “well-positioned to benefit from rising vision problems, increased screen time, and expanding insurance coverage.”
With a potential valuation of around Rs 70,000 crore, Lenskart could become one of India’s most valuable consumer brands, trading at an estimated P/E of over 200x FY25 earnings, a level investors appear willing to bet on given its strong growth prospects.