Lenskart IPO Opens: Price Band ₹402–₹500, GMP Soars 24%, and ₹7,278 Cr Mega Issue Sparks Investor Frenzy | October 2025
Lenskart IPO Opens — ₹7,278 Cr Eyewear Giant Set to Redefine India’s D2C Listings
The long-awaited Lenskart Solutions IPO has officially opened for subscription, and investor enthusiasm is sky-high.
Backed by marquee global investors and a robust omni-channel model, Lenskart is among India’s most profitable and recognizable consumer brands to enter the stock market in 2025.
#1 — IPO Snapshot: Key Dates and Price Details
Category: IPO / Markets
Key Highlights
- IPO Open: 30 October 2025
- IPO Close: 03 November 2025
- Basis of Allotment: 05 November 2025
- Listing Date: 09 November 2025
- Price Band: ₹402 – ₹500 per share
- Lot Size: 37 shares
- Issue Size: ₹7,278 Crore (Fresh + OFS)
- Grey Market Premium (GMP): ₹98 → ~24.38 % over upper band *(as of 28 Oct 2025) view latest gmp *
Detailed Report
According to filings with SEBI and the exchanges, Lenskart Solutions Ltd aims to raise ₹7,278 crore through a combination of fresh issue and Offer for Sale.
Retail investors can apply for a minimum lot of 37 shares, translating to an investment of roughly ₹14,874.
Lead managers include Kotak Mahindra Capital, Goldman Sachs, and Morgan Stanley, indicating strong institutional participation.
Market trackers report a GMP of ₹98, implying about 24 % listing gain potential if sentiment holds steady.
#2 — Company Overview: From Startup to Eyewear Empire
Category: Business / D2C
Key Highlights
- Founded by Peyush Bansal (of Shark Tank India fame) in 2010.
- Operates across 1,800+ stores in 400+ cities with a strong digital platform.
- Global presence in Singapore, UAE, USA, and the Middle East.
- Offers spectacles, contact lenses, sunglasses, and vision-tech solutions.
Detailed Report
Lenskart revolutionized India’s optical-retail industry by combining technology, affordability, and style.
The brand now serves over 25 million customers, powered by AI-based eye testing and 3D frame try-on tools.
Financially, Lenskart became profitable in FY 2025, posting revenue above ₹3,500 Cr and net profit around ₹260 Cr, driven by strong domestic and international expansion.
Its vertically integrated Bhiwadi factory → home delivery supply chain provides a long-term cost edge over competitors.
#3 — Financial Performance Snapshot (FY 2025)
| Metric | FY 2025 | FY 2024 | Growth |
|---|---|---|---|
| Revenue | ₹3,516 Cr | ₹2,805 Cr | +25 % |
| EBITDA | ₹690 Cr | ₹518 Cr | +33 % |
| Net Profit | ₹262 Cr | ₹130 Cr | +101 % |
| EBITDA Margin | 19.6 % | 18.5 % | — |
| ROE | 21 % | 13 % | — |
Lenskart’s solid profit growth makes it stand apart from most consumer-tech IPOs, which often go public while still loss-making.
#4 — IPO Valuation & Analyst View
Category: Market Analysis
Key Highlights
- Post-issue valuation estimated at ₹45,000 – ₹50,000 Cr.
- P/E ratio around 80–90× FY25 EPS — high but supported by brand visibility.
- Analysts cite strong brand recall, export potential, and supply-chain control as key value drivers.
Detailed Report
Brokerages believe valuations are premium but sustainable, given Lenskart’s profitability and scale.
India’s eyewear market is forecast to grow at a ~10 % CAGR till 2030, while Lenskart’s international presence adds upside potential.
However, analysts warn that rich pricing and competition from Titan Eye+ and other D2C brands could cap short-term returns.
Expert View: “Lenskart is a rare profitable D2C brand with global ambition. Valuation is full — but quality never comes cheap.” — Motilal Oswal Securities
#5 — GMP Trend & Listing Expectations
Category: Market Sentiment
Key Highlights
- GMP steady: ₹95–₹100 (~20–25 % potential listing gain).
- Anchor Investors: Temasek, ADIA, Premji Invest — strong institutional interest.
- Retail Subscription: Expected to exceed 25×, driven by brand trust.
Detailed Report
GainIPO’s GMP Tracker shows consistent grey-market activity ahead of listing.
Participation from global funds like Temasek and ADIA confirms institutional confidence.
Analysts expect Lenskart to list around ₹600–₹625 if markets remain stable.
Expert View: “The IPO ticks all boxes — strong financials, visible growth, and brand power. If markets stay stable, it could be one of 2025’s top listings.” — Market analysts to Moneycontrol
#6 — Risk Factors to Watch
- High valuation multiples vs peers (Titan Eye+, Vision Express).
- Imported raw materials dependency → margin risk if INR weakens.
- Heavy offline expansion costs may reduce near-term profit.
- Promoter dilution could lead to post-listing supply pressure.
Summary Takeaway
The Lenskart IPO combines brand power, profitability, and global reach — a rare mix in India’s D2C space.
With a ₹7,278 Cr issue, strong GMP, and top-tier anchor book, it’s a promising listing, though valuations are stretched.
GAINIPO Verdict: Long-Term Positive 💼 | Short-Term Premium Listing Likely 🚀