Lenskart IPO Opens for Subscription: Price Band, GMP, and Should You Invest?

The much-awaited Lenskart IPO opened for subscription today, October 31, and will remain open till November 4, 2025. The eyewear giant, known for revolutionizing India’s optical retail space, is offering shares in the price band of ₹382–₹402 per share, with a lot size of 37 shares for retail investors.

💰 Lenskart IPO Details

The total issue size of the IPO stands at ₹7,278 crore, which includes a fresh issue worth ₹2,150 crore and an offer for sale (OFS) by existing shareholders. The funds raised will be used to expand store presence, upgrade supply chain infrastructure, and invest in technology-driven retail and branding initiatives.

Lenskart Solutions designs, manufactures, and retails eyeglasses, sunglasses, contact lenses, and accessories. Over the years, the company has evolved into India’s largest organized eyewear brand, with a strong omnichannel presence spanning both online and offline stores.

📈 Lenskart IPO GMP Today

In the grey market, Lenskart shares are currently commanding a premium of around ₹70, suggesting an expected listing gain of nearly 17% at the upper end of the price band.

However, experts caution that the GMP (Grey Market Premium) only reflects market sentiment and can fluctuate rapidly based on demand and broader market trends.

📊 Lenskart’s Financial Performance

For FY25, Lenskart reported:

Revenue: ₹6,652 crore

Net Profit: ₹297 crore

This marks a strong turnaround after several years of losses, indicating improved profitability and operational efficiency.

The company’s growth momentum is also being driven by its expansion into smaller Indian towns and overseas markets such as the Middle East and Southeast Asia.

⚖️ Valuation and Analyst Views

While investor excitement around the IPO remains high, analysts have raised concerns over steep valuations. According to Swastika Investmart, Lenskart’s valuation appears “expensive,” given its high earnings multiple and reliance on non-cash accounting adjustments in recent profits.

The brokerage maintains a neutral stance, noting that while the company operates in a high-growth category with strong brand recognition, investors are paying a premium for future potential rather than consistent profitability.

ICICI Securities and other analysts highlight that Lenskart’s vertically integrated model provides cost advantages but also creates dependency risks within its supply chain.

💡 Should You Subscribe or Skip the Lenskart IPO?

If you’re a short-term investor, the current GMP trend indicates potential listing gains, though this depends on overall market sentiment during the subscription period.

For long-term investors, Lenskart presents a strong growth and brand story, backed by investor confidence from names like Radhakishan Damani. However, the valuation premium means it’s a long-term bet — more suitable for those willing to hold for several years rather than seeking quick returns.

In short:

✅ Strong brand, large market potential, and expanding global presence.

⚠️ High valuation and reliance on future growth projections.

Verdict: A high-quality company at a premium price — ideal for patient investors with a long-term horizon.