Lenskart IPO Day 2: Issue Subscribed 1.27x So Far; GMP Rises 21% – Should You Subscribe?

Updated: November 03, 2025 11:04

Image Source : Moneycontrol

Lenskart Solutions’ IPO is seeing strong investor interest with a 1.27x subscription on Day 2 and a grey market premium (GMP) soaring to 21%, suggesting robust listing gains. The Rs 7,278 crore issue features a price band of Rs 382-402, with allotment expected by November 6 and listing on November 10.

Lenskart Solutions, India’s leading eyewear retailer, is currently in the second day of bidding for its Rs 7,278 crore IPO, which opened on October 31 and closes November 4, 2025. The IPO comprises a fresh issue of Rs 2,150 crore and an offer for sale of Rs 5,128 crore. The price band is fixed at Rs 382-402 per share, with lots of 37 shares, translating to a minimum investment of around Rs 14,874 at the upper band.

On Day 1, the issue was subscribed 1.13 times, and by Day 2 morning, subscription rose to approximately 1.27 times. The Qualified Institutional Buyers (QIB) segment leads with 1.42x subscription, retail investors show strong interest at 1.46x, while non-institutional investors are at 0.54x so far.

Notably, the grey market premium has surged to Rs 85 per share, a 21% premium over the IPO price, indicating positive sentiment and a probable listing price near Rs 487, suggesting healthy aftermarket gains.

Investors should note Lenskart’s recent transition to profitability (FY25 net profit of Rs 297 crore) and its extensive omni-channel presence with over 2,700 stores globally. However, valuations are high with a P/E over 200x, warranting cautious optimism.

Key Highlights:

IPO Size: Rs 7,278 crore (Fresh Issue Rs 2,150 crore + OFS Rs 5,128 crore)
Price Band: Rs 382-402 per share; Lot size: 37 shares
Subscription Day 2: 1.27x (QIB 1.42x, Retail 1.46x, NII 0.54x)
Grey Market Premium: Rs 85 (21% above IPO price)
IPO Allotment Date: November 6; Listing Date: November 10 on NSE & BSE
Company: India’s largest eyewear retailer, profitable in FY25, 2,723 stores worldwide
Valuation: High P/E and EV/Sales, indicates premium priced IPO
Analyst View: Solid brand and growth, but valuations require cautious entry

Investors with a long-term horizon and belief in Lenskart’s growth story may consider subscribing, but high valuations mean it’s advisable to assess risk tolerance carefully.

Sources: Moneycontrol, Financial Express, Economic Times, NDTV Profit, News18, Swastika Investmart

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