The allocation of shares for the upcoming IPO of Lenskart Solutions Ltd is set to be finalized tomorrow following strong investor interest during the subscription period. The public offering from the eyewear retailer garnered over 28 times subscription, driven by significant participation from both institutional and retail investors.
Despite the robust subscription numbers, the grey market premium (GMP), which is typically viewed as an early indicator of listing performance, has experienced a notable decline ahead of the stock market debut. This decline in GMP suggests a potentially subdued listing next week.
As of November 5, 2025, the last reported GMP for Lenskart IPO stands at Rs 42, marking a significant decrease from previous levels and hinting at reduced investor enthusiasm in the unlisted market.
With a price range of Rs 382–402 per share, the estimated listing price is anticipated to be Rs 444 per share, representing a modest gain of 10.45% over the issue price.
The drop in GMP indicates that while demand was high during the subscription phase, traders in the grey market are now factoring in limited upside potential, possibly due to valuation concerns and broader market volatility.
The IPO of Lenskart witnessed strong subscription across different investor categories. Retail investors subscribed 7.56 times, Qualified Institutional Buyers (QIBs) subscribed 40.36 times, and Non-Institutional Investors (NIIs) subscribed 18.23 times, according to exchange data.
Analysts noted that the overwhelming response to the IPO reflects the company’s strong brand presence and leading position in India’s eyewear market. However, they cautioned that oversubscription does not always guarantee substantial listing gains.
Lenskart Solutions Ltd’s IPO, valued at Rs 7,278.02 crore, comprises a fresh issue of Rs 2,150 crore and an offer for sale (OFS) of Rs 5,128.02 crore by existing shareholders. The IPO price band ranged from Rs 382 to Rs 402 per share, with a lot size of 37 shares.
The IPO is expected to be listed on both the BSE and NSE on November 10, 2025. MUFG Intime India Pvt Ltd serves as the registrar of the issue, while the book-running lead manager is yet to be officially disclosed.
Established in 2008, Lenskart Solutions Ltd has emerged as a prominent omnichannel eyewear retailer in India, offering a wide range of products including prescription glasses, sunglasses, contact lenses, and accessories. The company’s business model integrates technology with physical store experiences and includes in-house design and manufacturing of eyewear products to maintain competitive pricing.