Lenskart Solutions Limited’s much-awaited Initial Public Offering (IPO) opened for subscription today and will remain open till November 4, 2025. The eyewear giant, backed by global investors such as SoftBank and Temasek.

Lenskart is aiming to raise a massive ₹7,278.02 crore through the issue, which includes ₹2,150 crore via fresh equity shares and ₹5,128.02 crore through an Offer for Sale (OFS).

The Lenskart IPO price band has been fixed between ₹382 to ₹402 per share, and the shares are proposed to be listed on both the BSE and NSE.

Lenskart IPO Key Details

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Lenskart IPO GMP Today

Ahead of the IPO subscription, Lenskart shares are trading at a premium of ₹48 in the grey market, according to market observers. This suggests an estimated 12% listing gain for potential investors, though analysts advise caution due to the company’s aggressive valuation.

Lenskart IPO Valuation

According to Prashanth Tapse, Senior VP of Research at Mehta Equities, the company is targeting a valuation of around ₹70,000 crore, which is “priced for future profits.” Despite rapid revenue growth, the company’s profit margins remain tight, mainly due to high marketing expenses and ongoing investments in offline stores and logistics.

Lenskart IPO Subscription Status (Day 1)

By 1:45 PM on the opening day, the IPO was 0.42 times subscribed overall.

• Retail investors: 0.97 times
• Non-Institutional Investors (NII): 0.24 times
• Qualified Institutional Buyers (QIB): 0.33 times

Subscription figures are expected to pick up as institutional participation increases in the coming days.

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Lenskart IPO: Apply or Not?

Analyst opinions remain divided but cautiously optimistic.

Marwadi Financial Services has assigned a “Subscribe (With Caution)” rating. It highlights that based on the annualized EPS (June 2025) of ₹1.41, the company’s P/E ratio stands at around 285x, signaling a rich valuation. Analysts note that while Lenskart is India’s largest prescription eyewear seller, sustaining its high growth rate is critical to justify the valuation.

On the other hand, Ventura Securities maintains a ‘Buy’ recommendation, citing Lenskart’s strong turnaround in FY25.

The company posted ₹6,652.5 crore in revenue, a jump from the previous year, and net profit of ₹295.6 crore, marking a shift from losses in FY24. Lenskart also achieved an EBITDA margin of 14.7%, driven by robust operational efficiency.