Business
Lenskart IPO Receives 1.13x On Day 1: Should You Apply? Check GMP, Price, Recommendations
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Lenskart IPO News: On Day 1, the IPO receives a 1.13x subscription. Its retail category receives a 1.32x subscription, while the NII quota gets 0.41x subscription.
Lenskart IPO GMP Today.
Lenskart IPO GMP Today, Lenskart IPO News: Eyewear retailer Lenskart Solutions opened its initial public offer (IPO) today, Friday, October 31. The price band of the Rs 7,278-crore IPO has been fixed in the range of Rs 382-Rs 402 apiece. On the first day of the IPO, its GMP has increased to 18.41% despite high valuation concerns.
On the first day of bidding on Friday, the IPO has been fully subscribed and has received a 1.13x subscription, garnering bids for 11,25,11,487 shares as against the 9,97,42,748 shares on offer. Its retail category has received a 1.32x subscription, while the NII (non-institutional investor) quota has received a 0.41x subscription. The QIB category received a 1.42x subscription.
A day before the IPO, Lenskart Solutions on Thursday garnered a blockbuster response from anchor investors, receiving bids of around Rs 68,000 crore. This is nearly 10 times the issue size of Rs 7,278 crore, and 20 times the anchor book size of more than Rs 3,200 crore.
Lenskart IPO: Opening, Closing, Allotment, Listing Dates
The IPO will be opened on October 31 and closed on November 4. Its allotment will be finalised on November 6, while the stock listing is scheduled to take place on November 10 on both BSE and NSE.
Lenskart IPO GMP Today
According to market observers, unlisted shares of Lenskart Solutions Ltd are currently trading at Rs 476 apiece in the grey market, a GMP of Rs 74 over the upper IPO price of Rs 402. It means a grey market premium (GMP) of 18.41%, indicating decent listing gains for investors.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Lenskart IPO: Brokerage Recommendations
Analysts point towards the high valuation of the company. SBI Securities said that at the upper end of the price band, Lenskart’s valuation stands at 10.1 times its FY25 EV/Sales and 68.7 times EV/EBITDA on a post-issue basis. The IPO comes at a price-to-earnings (P/E) ratio of 230x.
The analysts at SBI Securities cautioned that the issue appears stretched on valuation, which may cap potential listing gains. However, they highlighted the company’s strong business model and the significant growth opportunity in India’s expanding eyewear market as key positives.
The brokerage also noted that profitability metrics will need close monitoring as the company continues to scale its operations. Lenskart’s EBITDA margin has notably improved from 7% in FY23 to 14.7% in FY25, reflecting operational efficiency. Considering the company’s long-term prospects, SBI Securities has recommended subscribing to the IPO for the long term at the cut-off price.
Brokerage firm SIMFS recommends subscribing to the IPO, highlighting the strong growth runway in India’s eyewear market and Lenskart’s tech-enabled business model. It pointed to the company’s “vertically integrated manufacturing ecosystem” and profitability turnaround.
The firm noted that India’s eyewear industry is “poised for exceptional growth… projected to reach Rs 1,483 billion by FY30, clocking a 13% CAGR.” It emphasised Lenskart’s scale advantages, saying the firm produces “30-40 million lenses and 25 million frames annually… eliminating 2.5-4x middlemen markups, enabling 70% gross margins.”
SIMFS recommended that the IPO is a “high-risk, high-potential opportunity” given long-term growth tailwinds and Lenskart’s execution track record.
Choice Broking emphasised the expensive valuation, noting that “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 acknowledging Lenskart’s steady revenue growth and improving store economics, it highlighted that “profitability remains weak, with a positive PAT mainly driven by other income and lower expenses.”
Choice Broking observed that around 40% of revenue now comes from international markets and referenced marquee investor interest, noting Radhakishan Damani’s Rs 90-crore pre-IPO investment.
Given growth prospects but high valuation, the brokerage said the issue “is best suited for investors with a higher risk appetite and a long-term investment horizon,” assigning a ‘Subscribe for Long Term’ rating.
Nirmal Bang highlighted Lenskart’s omnichannel strategy, centralised manufacturing, and technology leverage as core strengths, saying these enable the company “to remain cost competitive in the highly fragmented market” and “scale faster than the industry.”
The brokerage noted strong financial momentum — revenues and EBITDA grew at a CAGR of 32.5% and 92.3% over FY23–25 — and said the company has “become PAT positive in FY25.” However, it flagged valuations, saying, “At FY25 P/E of 235x and EV/EBITDA of 68x, issue prima facie looks expensive.”
Still, when compared with other listed retailers like Metro and Trent, it said valuations “seem fair,” and future expansion plans “provide cushion.” Nirmal Bang recommended subscribing “with long-term view.”
SBI MF Invests Rs 100 Crore In Lenskart
SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF), invested Rs 100 crore in eyewear retailer Lenskart Solutions Limited through a pre-IPO transaction at a transfer price of Rs 402 per equity share.
Last week, Billionaire investor Radhakishan Damani, founder of Avenue Supermarts (DMart), invested around Rs 90 crore in eyewear retailer Lenskart through a pre-IPO transaction.
Lenskart IPO Price Band and Size
The company has fixed the price band at Rs 382-402 per share for its IPO. At the upper end of the price band, Lenskart is seeking a valuation of around $7.91 billion (about Rs 72,700 crore).
The issue includes a fresh issue of shares worth Rs 2,150 crore, while the offer-for-sale (OFS) segment will see promoters and investors offloading more than 12.75 crore equity shares.
Key Selling Shareholders in the OFS
Along with founders and promoters (Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi), several major investors are participating in the OFS. These include SoftBank’s SVF II Lightbulb (Cayman), Schroders Capital, PI Opportunities Fund, MacRitchie Investments, Kedaara Capital Fund, and Alpha Wave Ventures.
Notably, Schroders Capital Private Equity Asia (Mauritius) is set to make a complete exit, selling 1.9 crore shares, which represent a 1.13% stake in the company.
About Lenskart
Founded in 2010, Lenskart began as an online eyewear retailer and has since grown into one of India’s leading omnichannel eyewear brands with both online and offline presence. The company was valued at $6.1 billion as of September 2025, according to Tracxn data cited by Reuters.
In June 2025, the company transitioned into a public limited entity — changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited after an extraordinary general meeting held on May 30.
Lenskart IPO Lead Managers and Objective
The fresh issue will be used for business expansion, new investments, acquisitions and general corporate purposes.
The IPO will be managed by a consortium of top investment bankers, while the registrar and book-running lead managers will be responsible for allotment and investor coordination.
With strong brand visibility, a robust online-offline model, and solid investor backing, the Lenskart IPO is expected to generate significant interest among both retail and institutional investors.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
October 31, 2025, 09:33 IST
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Business
Aadhaar future roadmap: UIDAI sets up expert panel to craft Vision 2032; explores AI, blockchain and quantum tech – The Times of India
The Unique Identification Authority of India (UIDAI) has set up a high-level expert committee to make Aadhaar technology future-ready, with focus on scalability, data security, and resilience against emerging cybersecurity threats, according to an official statement issued on Friday.The committee, chaired by UIDAI Chairperson Neelkanth Mishra, includes UIDAI CEO Bhuvnesh Kumar, Nutanix founder Dheeraj Pandey, MOSIP head of engineering Sasikumar Ganesan, Trilegal partner Rahul Matthan, Amrita University Professor Prabaharan Poornachandran, Michigan State University Professor Anil Jain, UIDAI Deputy Director General Abhishek Kumar Singh, Sarvam AI co-founder Vivek Raghavan, and IIT Jodhpur Professor Mayank Vatsa.“Recognising the rapidly changing technological and regulatory landscape, the UIDAI has embarked on a comprehensive strategic and technological review to shape the next decade of Aadhaar’s evolution through a new ‘Aadhaar Vision 2032’ framework,” the statement said.The Vision 2032 roadmap will not only sustain Aadhaar’s technological leadership but also reinforce its role as a secure, inclusive, and people-centric digital identity, the statement added.The expert panel will draft the Aadhaar Vision 2032 document, outlining a framework for next-generation Aadhaar architecture aligned with India’s Digital Personal Data Protection (DPDP) Act and global privacy and cybersecurity standards.According to the UIDAI, the Vision 2032 framework will leverage advanced technologies such as Artificial Intelligence, Blockchain, Quantum Computing, Advanced Encryption, and next-generation data security systems to ensure that Aadhaar remains secure, scalable, and adaptable to the evolving digital landscape.
Business
The rush for iPhones sees Apple register all-time revenue record in India: CEO Tim Cook – The Times of India
NEW DELHI: Apple’s operations in India shone once again for the US tech and electronics major, which set an all-time revenue record in the country just as it recorded an eight per cent growth in global revenues, at $102.5 billion, led by “a tremendous response” to the new iPhone 17 series and the previous-gen iPhone 16. Tim Cook, the global CEO of Apple, said the company is hoping for a further surge in the sales momentum during the Christmas and New Year’s season, even as it battles constraints in fulfilling customer demand, along with some delays in shipments to the crucial Chinese market. “Turning to retail, we’re heading into our busiest time of year with our best-ever lineup.”India stood out once again for its stellar performance, not just in the production of iPhones but also because of the strong revenues. “We also set a September quarter revenue record in emerging markets and an all-time revenue record in India,” Cook said while releasing global financial numbers.He attributed the surge to growth in the retail footprint of the company across geographies, including in India. “In the last few months, we’ve opened new stores in emerging markets like India and the UAE and new locations in the US and China.”Cook said the acceptance of the new iPhone series has seen the company register growth in the vast majority of markets. It had September quarter revenue records in dozens of markets, including the U.S., Canada, Latin America, Western Europe, the Middle East, Japan, Korea, and South Asia.Kevan Parekh, the CFO of Apple, also had words of praise for India, a market that was amongst the countries that saw the biggest surge in demand for iPhones. “iPhone revenue was $49 billion, up 6% year-over-year, driven by the iPhone 16 family. iPhone grew in the vast majority of the markets we track, with September quarter records in many emerging markets, including Latin America, the Middle East, and South Asia, and an all-time record in India.”Apple said that the iPhone active installed base grew to an all-time high across the world, and it set a September quarter record for upgraders. “According to the recent survey from World Panel, the iPhone was a top-selling model in the U.S., urban China, the UK, France, Australia, and Japan. We continue to see very high levels of customer satisfaction in the U.S. at 98% as measured by 451 Research.”The company has said it does not intend to slow down expansion in India – both for production of iPhones or in broadening retail or business/sales operations – despite geopolitical tensions as diplomatic relations between India and the U.S. remain challenging over the Trump administration’s tariffs decisions and purchase of Russian oil by New Delhi.Apple management has told the Indian government that the company continues to actively pursue its expansion plans in India. Factories of Taiwanese Foxconn as well as the Tata group in India, are not only making iPhones for India but also for meeting the demands in the US market. The company has also been witnessing a strong growth in demand in the domestic consumption of iPhones in India.
Subscribers to YouTube TV have lost access to ESPN, ABC and other Disney channels, as the two companies struggle to negotiate a licensing deal.
Disney said the online pay-TV platform, which is owned by the tech giant Google and available only in the US, had refused to pay fair rates for the content, which also include National Geographic and the Disney channel.
In its own statement, YouTube TV said that Disney’s proposed terms “disadvantage our members while benefiting Disney’s own live TV products”.
After tense negotiations, the channels vanished from YouTube TV just before midnight on Thursday – the deadline to reach a new deal. The blackout affects roughly 10 million subscribers.
If Disney channels remain suspended for an “extend period of time”, YouTube TV said it would offer subscribers a $20 credit.
YouTube and Disney-owned Hulu are among the biggest online TV platforms in the US.
Their stand-off follows similarly contentious talks this year between YouTube and other media companies, which had also threatened to limit the shows available to YouTube TV subscribers.
Google struck a deal at the last minute with Comcast-owned NBCUniversal earlier this month to keep shows like “Sunday Night Football” on YouTube TV. It has also reached agreements with Paramount and Fox in recent months.
In separate statements, both Google and Disney said they were working toward a resolution to restore Disney content to YouTube TV.
Still, the companies remain divided on fees.
“With a $3 trillion market cap, Google is using its market dominance to eliminate competition and undercut the industry-standard terms we’ve successfully negotiated with every other distributor,” a Disney spokesperson said in a statement.
But YouTube said in a statement that Disney was proposing “costly economic terms” that would lead to higher prices for YouTube TV customers and limit their options for content, benefiting Disney’s own live TV offerings like Hulu+ Live TV.
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