Lenskart IPO Full Coverage: Record Subscription, Investor Buzz, and Market Reactions

Lenskart Solutions Limited’s highly anticipated ₹7,278 crore IPO has turned out to be one of the most successful public issues of the year. With overwhelming demand from institutional and retail investors alike, the issue was subscribed 28.26 times on the final day, marking a strong debut for India’s leading eyewear retailer.

💰 IPO Overview

• IPO Size: ₹7,278 crore

• Price Band: ₹421 – ₹445 per share

• Issue Dates: Opened on November 1, 2025, and closed on November 4, 2025

• Face Value: ₹1 per equity share

• Issue Type: Book-built

• Offer for Sale (OFS): ₹1,500 crore by existing investors

• Fresh Issue: ₹5,778 crore

• Expected Listing Date: November 8, 2025

• Probable Listing Exchanges: NSE and BSE

According to Upstox and Moneycontrol, the allotment status can be checked via NSE, BSE, and the registrar MUFG Intime India.

📈 Subscription Details

CategorySubscription (x times)Qualified Institutional Buyers (QIBs)40.12xNon-Institutional Investors (NIIs)27.84xRetail Individual Investors (RIIs)12.35xOverall28.26x

(Source: Financial Express, NDTV Profit, BusinessLine)

The IPO saw bids worth over ₹1 lakh crore, according to The Economic Times and The New Indian Express.

🧮 Grey Market Premium (GMP) Trends

While initial excitement pushed the GMP to ₹120, it slipped to around ₹60–₹70 by the final day of bidding (CNBC TV18, Outlook Money, Livemint).

Analysts interpret this decline as profit-booking sentiment rather than waning interest. The IPO’s strong fundamentals and market dominance remain intact despite valuation debates.

🧑‍💼 Key Investor Interest

As per Outlook Business and Trade Brains, marquee investors such as Radhakishan Damani, SBI Mutual Fund, and ChrysCapital have backed Lenskart.

• SBI Mutual Fund reportedly invested ₹100 crore before the IPO.

• ChrysCapital’s Kunal Shroff stated the IPO “will stack up well” against peers due to its strong growth trajectory and omni-channel strategy.

🕶️ Business Model & Valuation Debate

Founded by Peyush Bansal, Lenskart has become India’s largest eyewear retailer, boasting over 2,500 stores across the country and expanding internationally in Southeast Asia and the Middle East.

However, its ₹70,000 crore valuation has sparked a heated discussion among analysts.

• Business Standard and MSN highlighted concerns about “high startup valuations.”

• ThePrint noted that the IPO “sold out in five hours” despite valuation worries.

• Bansal responded positively to criticism, saying, “Backlash means people care — it’s a blessing in disguise.” (Instagram post, 3 days ago)

💬 Market Experts’ Take

• Moneycontrol: Lenskart’s IPO marks a defining moment for India’s consumer tech space, showing investor appetite for profitable startups.

• The Economic Times: “Valuation concerns are overpowered by brand strength and scalability.”

• Financial Express: “Oversubscription reflects deep institutional confidence.”

• India Today: Compared Lenskart’s IPO with Groww’s, noting Lenskart’s stronger fundamentals and revenue visibility.

🧾 Allotment & Listing Details

• Allotment Date: November 6, 2025

• Refunds Initiation: November 7, 2025

• Listing Date: November 8, 2025

• Expected Listing Premium: ₹60–₹70 (as per GMP trends)

Investors can check allotment via:

• NSE IPO Allotment Link

• BSE IPO Allotment Link

• MUFG Intime India

📊 Financial Performance Snapshot

MetricFY23FY24YoY GrowthRevenue₹1,930 crore₹2,920 crore51%Net Profit₹102 crore₹181 crore77%EBITDA Margin9.2%12.8%+3.6%Active Customers2.4 crore3.1 crore+29%

Lenskart’s strong profitability and operational scale have impressed both institutional and retail investors.

🌍 Competitive Edge

Lenskart’s direct-to-consumer (D2C) model, AI-driven lens manufacturing, and technology-led design process give it a significant edge. With growing online penetration and premium brand positioning, the company is well-placed to expand globally.

🧠 Expert Verdict: Should You Invest?

Pros:

• Robust financial growth

• Dominant market share

• Omni-channel distribution model

• Strong investor backing

Cons:

• High valuation could pressure short-term returns

• Falling GMP indicates cautious listing outlook

Analyst Consensus:
Most experts rate it a “Subscribe for Long-Term” due to its strong fundamentals and brand visibility.

🪶 Public Sentiment

Actress Soha Ali Khan even joined the buzz, simplifying market jargon for retail investors and calling the IPO “a story of India’s confidence in its startups.” (Times of India, 11 hours ago)

Social media has been abuzz with retail enthusiasm, memes, and debates over whether Lenskart can replicate its private-market success on Dalal Street.

🏁 Conclusion

The Lenskart IPO has firmly established itself as a milestone event in India’s 2025 market calendar. Despite valuation chatter, its 28x oversubscription and ₹1 lakh crore bids show unwavering investor faith in India’s retail and tech-driven growth story.

As Peyush Bansal said, “We’re not just selling glasses — we’re reframing vision itself.”