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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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Vets will be legally bound to prescription fee caps and publishing price lists among new measures which will start coming into force later this year, the competition watchdog has announced.
The Competition and Markets Authority (CMA) said its final reforms for the sector will help pet owners better navigate the vet services market.
Other legally binding measures will include a price comparison website and mandatory branding by the large groups to boost competition and drive down prices.
The CMA said pet owners using a vet practice that is part of a larger chain can expect to see changes before Christmas, including standard price lists.
The measures follow the CMA finding that fees have risen at almost twice the rate of inflation, with pet owners not being given enough information about their vet and the prices of treatments.
Martin Coleman, chairman of the independent Inquiry Group, said: “This is the most extensive review of veterinary services in a generation, and today’s reforms will make a real difference to the millions of pet owners who want the best for their pets but struggle to find the practice, treatment and price that meets their needs.
“Too often, people are left in the dark about who owns their practice, treatment options and prices – even when facing bills running into thousands of pounds.
“Our measures mean it will be made clear to pet owners which practices are part of large groups, which are charging higher prices, and for the first time, vet businesses will be held to account by an independent regulator.
“Our changes put pet owners at the centre but also help vets by enhancing trust in the profession and protecting clinical judgment from undue commercial pressure – and that is important to ensure our pets continue to get the best care.”
The CMA said practices must publish a comprehensive price list for standard services, including consultations, common procedures, diagnostics, written prescriptions and cremation options under its new rules.
Prescriptions – for which “many” practices charge £30 or more for each – are to be capped at £21 for the first medicine and £12.50 for any additional medicines.
Practices must also provide a written estimate in advance for any treatment expected to cost £500 or more, including aftercare costs, as well as an itemised bill.
Emergency care will be the only exception for written estimates.
Prices and information about who owns the surgery are to be made available to pet owners through the Royal College of Veterinary Surgeons (RCVS) ‘Find a Vet’ service, which will share the data with third-party comparison sites.
Vet businesses must make it clear whether they are part of a group or an independent business, with details of group ownership to be displayed on signs at the surgery and online.
British Veterinary Association president Rob Williams said: “The majority of the CMA’s measures focus on increasing transparency and information, which will help pet owners make more informed choices and support competition, which is a really positive step.”
He added: “Delivering highly skilled veterinary medicine is costly and whilst we recognise prices have risen sharply in recent years this is due to a number of factors, including the higher costs all businesses are experiencing – and vet practices are not immune.
“Plus, thanks to advances in diagnostics and medical technology over the last 20 years, vets can now do much more to manage disease and injury in animals, whereas in the past the only option available may have been to euthanase.
“Owners today also have a greater expectation of their vet, with many expecting human quality healthcare for their pets and whilst this is possible to deliver, it comes at a cost.”
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An Estée Lauder pop-up store is seen inside a Daimaru store on Nanjing Road in Shanghai, China, Aug. 6, 2021.
Costfoto | Future Publishing | Getty Images
Estée Lauder Companies said Monday that it is in talks with Spanish beauty group Puig to potentially merge the two companies.
“No final decision has been made, and no agreement has been reached,” Estée Lauder said in a statement.
Shares of the U.S. beauty company were down nearly 8% following the news, which was first reported by the Financial Times. Puig’s stock rose roughly 3%.
Puig owns major beauty brands including Charlotte Tilbury, Jean Paul Gaultier and Rabanne. The companies did not disclose any financial details of the potential deal.
Estée Lauder has been struggling amid ongoing headwinds from tariffs and its restructuring as it enacts its “Beauty Reimagined” turnaround plan to revitalize the business. In its second-quarter earnings report last month, the beauty retailer said it’s expecting a $100 million hit to its full-year profitability due to tariff impacts.
Estée Lauder’s stock has dropped roughly 25% this year.
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