Lenskart Solutions Ltd, an eyewear retailer, received a positive response on the first day of its IPO, driven by strong interest from institutional and retail investors, with a Day 1 subscription of 1.13 times. The IPO, open from October 31 to November 4, is priced between ₹382 and ₹402 per share, valuing the company at over ₹69,700 crore at the upper band. The grey market premium (GMP) currently stands at ₹85, suggesting a potential listing price of around ₹487 per share.
The IPO comprises a fresh issue of shares worth ₹2,150 crore and an offer-for-sale (OFS) of 12.75 crore shares by promoters and investors, including Peyush and Neha Bansal, Amit Chaudhary, Sumeet Kapahi, and investors like SVF II Lightbulb, Schroders Capital, and Kedaara Capital. Lenskart plans to use the funds to expand company-owned stores in India, cover lease and operational costs, invest in technology, marketing, and potential acquisitions.
The company, operating in India and internationally, has shown consistent EBITDA margin improvement from 7% in FY23 to 14.7% in FY25. Analysts recommend subscribing for long-term gains, highlighting Lenskart’s profitability turnaround, large market potential, and technology-driven growth as key strengths.
