Lenskart IPO: Retail IPO Subscribed 2x On Day 2, But GMP Drops, Allotment, Listing Dates; Bid Or Not?

Lenslart IPO: The retail IPO of Peyush Bansal has fully subscribed by over 2x on the Day 2. The Rs 7,278.02 crore IPO was launched on October 31st for subscription and will close on November 4th. However, while the IPO received stable bidding, its grey market premium (GMP) has been falling for second consecutive day. The latest GMP hints at nearly 15% premium listing, which is lower from the prediction of 21.14% premium listing on the previous day.

Lenskat IPO Subscription:

As per the latest bidding data, Lenskart IPO received bids of 20,09,53,512 equity shares, registering a subscription of 2.01 times from the total issued size of 9,97,61,257 equity shares.

All categories of investors had fully subscribed their allotted size. The highest bidders are retail category whose portion subscribed by 3.33x, while the portion for employees and non-institutional investors (NII) category subscribed by 2.62x and 1.88x. Also, the qualified institutional buyers (QIBs) category subscribed by 1.64x.

Lenskart IPO Details:

The IPO is a mixture of fresh issue worth Rs 2,150 crore and offer for sale up to 127,562,573 Equity Shares which includes reservations for employees worth Rs 15 crore shares and anchor investors portion as well. The IPO is available for three days period from October 31st to November 4th.

The price band for the IPO is fixed at Rs 382 to Rs 402 per share. The bid lot size is of 37 Equity Shares and in multiples thereof.

Lenskart IPO GMP:

Lenskart Solutions IPO last GMP is Rs 59, last updated Nov 3rd 2025 08:33 PM. With the price band of 402.00, Lenskart Solutions IPO's estimated listing price is Rs 461 (cap price + November 3rd GMP).The expected percentage gain/loss per share is 14.68%, as per Investor Grain.

This GMP is lower from Rs 85 on November 1st, which hinted at over 21.14% premium listing. On the day of the IPO launch, the GMP stood at Rs 95 on October 31st, which is highest for Lenskart. At Rs 95 GMP, the listing prediction stood around 24% premium on BSE and NSE.

Hence, Lenksart GMP has fallen in two consecutive days.

Should You Bid For Lenskart IPO?

"Lenskart's Rs 7,278 crore IPO offers scale but not necessarily value. Priced at 230x FY25 P/E, it trades well above global leaders like Essilor Luxottica. Nearly 70% of the issue is secondary, with early investors exiting at 8x their entry valuation in under a year. With recurring profits at Rs 128 crore and growth slowing to 18%, the fundamentals appear stretched. A wait-and-watch approach seems prudent for long-term investors," said Gaurav Garg, Research Analyst Lemonn Markets Desk.

Also, Asit C. Mehta Investment Interrmediates Limited (ACMIIL Research) explained that the company's centralized prescription eyeglasses supply chain and manufacturing allows to manage the supply chain operations and address customer demand for each store location. This drives the core proposition of providing better accessibility to quality eyewear products at affordable prices to a large number of customers, by enabling faster delivery for a large selection of SKUs and thereby eyewear as a 'fast fashion' category."

Additionally, he said, they operate a direct-to-consumer model that eliminates multiple layers of intermediaries in the traditional prescription eyeglasses supply chain, enabling to deliver products to customers at an affordable cost and with next day delivery. The company will continue to expand and diversify the brand portfolio and product offerings to address evolving customer needs and enhance customer engagement.

Meanwhile, Rajnath Yadav, Research Analyst at Choice Equity Broking said, "At the upper end of its price band, LSL is valued at an EV/Sales of 9.9× (TTM basis), which appears significantly high. While the company has posted steady topline growth, profitability remains weak, with a positive PAT mainly driven by other income and lower expenses. LSL holds a 4-6% market share in the prescription eyewear segment, dominated by unorganized players. Its average revenue per store has improved from Rs. 1.9cr to Rs. 2.4cr, supported by operational efficiencies and AI-driven technologies. Billionaire investor Radhakishan Damani has invested around Rs. 90cr in the company during its pre-IPO funding round."

"About 40% of its revenue comes from international markets. Given its strong growth potential but high valuation and profitability risks, this offering is best suited for investors with a higher risk appetite and a long-term investment horizon. Thus we assign a "Subscribe for Long Term" rating for this issue," said Yadav.

Lenskart IPO Allotment & Listing Date:

Lenskart IPO is going to carry its allotment status on November 6th, while the tentative listing date is likely to be on November 10th.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.