Lenskart IPO Day 1: ₹7,278 Crore Issue Subscribed 9%; GMP at 18% Before Listing
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Lenskart IPO opened for public subscription on October 31 with a ₹7,278 crore issue. The IPO saw 9% subscription by 11 a.m. on Day 1, with retail investors leading at 37%. GMP ranges between 11–18% ahead of listing on November 10.
Eyewear brand Lenskart opened its Initial Public Offering (IPO) for public bidding on October 31. The ₹7,278 crore issue was subscribed 9% by 11 a.m. on Day 1, as per NSE data.
So far, investors have applied for 88.55 lakh shares against a total offer of 9.98 crore shares.
Retail investors subscribed to 37% of their portion.
Non-Institutional Investors (NIIs) booked 8%.
Qualified Institutional Buyers (QIBs) are yet to make big bids.
Lenskart IPO Details
Lenskart plans to raise ₹7,278 crore, which includes:
A fresh issue of ₹2,150 crore.
An offer for sale (OFS) of 12.75 crore shares.
The IPO is open from October 31 to November 2.
The price band is ₹382–₹402 per share, giving the company a valuation of about ₹70,000 crore.
Minimum investment: 37 shares or about ₹14,874.
Allotment date: November 5
Listing date: November 10
Grey Market Premium (GMP)
Before the listing, Lenskart’s unlisted shares were trading with a GMP of 18.41% above the IPO price, according to Investorgain.
This was higher than 17.41% the previous day and 11.94% the day before.
IPO Watch reported a GMP of around 11.45%.
Experts’ Views — Should You Apply?
Analysts say the IPO has attracted strong attention due to Lenskart’s strong brand and tech-based business model.
Shravan Shetty (Primus Partners) said the stable GMP, despite the high valuation, shows investor confidence.
Siddharth Maurya (Vibhavangal Anukulakara) said that while Lenskart is growing fast globally, profitability and cost control will decide its long-term success.
Shivani Nyati (Swastika Investmart) gave a ‘Neutral’ rating, pointing to high valuation despite solid performance.
Valuation Concerns
Experts say Lenskart’s valuation is high, with a P/E ratio of 230.
Even if profits triple in the next few years, the P/E would still be around 70, which is considered expensive.
CEO Peyush Bansal told CNBC-TV18 that the company has seen 90% EBITDA CAGR and has strong long-term growth plans.
He said, “Our job is to create value for customers and shareholders. The market decides the valuation.”
Anchor Investors
Before the IPO opened, Lenskart raised ₹3,268.4 crore from 147 anchor investors.
Major global names include:
Government of Singapore, BlackRock, Goldman Sachs, Fidelity, Nomura, JP Morgan, T Rowe Price, and others.
