Business
Lucid targets industry-first self-driving car technology with Nvidia
The Lucid display is seen at the New York International Auto Show on April 16, 2025.
Danielle DeVries | CNBC
Lucid Group is targeting a new goal that would make it the first automaker to offer highly advanced self-driving capabilities in its vehicles in the coming years, the company said Tuesday.
The all-electric vehicle manufacturer expects to launch what it’s calling “mind-off” driving in which a car can essentially drive itself under normal circumstances without a human needing to monitor it or intervene unless there’s a change in circumstances, such as severe weather. That would be like an occupant playing a game of cards or watching TV while the car is driving.
Lucid on Tuesday said it plans to leverage Nvidia‘s “Drive AV” platform and multisensor suite that includes cameras, radar, and lidar — or light detection and sensing, which allows the vehicle to better “see” its surroundings — for the forthcoming system.
Marc Winterhoff, interim CEO of Lucid, said the plan is to debut the new system “definitely in the coming years,” but he declined to specify an exact timeframe other than it won’t be in 2026. The system is first planned for Lucid’s upcoming midsize vehicle before it would expand to other models, he said.
“I want to make sure that we can offer this for our customers in a timeframe that I think is very ambitious, but at the same time, also we’re realistic,” Winterhoff told CNBC. “The main reason why I decided to not start from scratch, just do it ourselves, it’s simply time to market. … Also, it would cost a lot of money.”
Winterhoff said Nvidia’s technologies will be a catalyst for the system, while Lucid plans to actually execute the self-driving technology.
In the meantime, Winterhoff said Lucid plans to continue to increase the automated technologies on its current vehicles — the Air sedan and Gravity SUV — in partnership with Nvidia.
A Lucid-supplied teaser image of its upcoming midsize vehicle behind its current Gravity SUV.
Lucid
“It will be a stepping stone,” said Winterhoff, who has served as interim CEO since company founder Peter Rawlinson left as chief executive in February.
Many companies, including General Motors and Tesla, have promised personal self-driving vehicles but have failed to deliver. Automakers have invested billions of dollars working on autonomous vehicles in recent years, with most pulling back spending after years of trying to deploy the technologies.
What Lucid is aiming to launch is what the industry refers to as “Level 4: High Driving Automation.” As defined by SAE International, formerly the Society of Automotive Engineers, Level 4 technologies should not require monitoring or human intervention under certain, but not all, conditions.
There are a limited number of Level 4 vehicles currently on U.S. roadways. Most notably, Alphabet‘s Waymo operates robotaxis in a variety of cities. Lucid is saying it plans to be the first for a consumer vehicle.
Achieving such a system for Lucid will be daunting, especially given its track record on advanced driver assistance system, or ADAS.
The company, by its own admission, has not lived up to its customers’ expectations. It has been slow to release systems capable of hands-free driving, like many companies offer, or compete with well-known “Level 2” technologies such as GM’s “Super Cruise” or Tesla’s “Autopilot” or “FSD.”
Meanwhile, it’s set to be a record year for EV sales, but demand for all-electric cars is expected to decline with the end of federal incentives of up to $7,500.
Lucid announced the self-driving technology plans as well as other initiatives in conjunction with the Nvidia GTC global artificial intelligence conference taking place this week in Washington, D.C.
New Delhi: The Central Board of Direct Taxes (CBDT) has extended the due dates for filing audit reports and Income Tax Returns (ITR) for the Assessment Year 2025–26, giving major relief to businesses, professionals, and firms whose accounts require auditing.
Earlier, the deadline to submit tax audit reports was October 31, 2025, and the corresponding ITR filing deadline was also October 31, 2025. However, considering technical delays and representations from taxpayers and professionals, the CBDT has now extended both these dates.
As per the latest circular, taxpayers who are required to get their accounts audited under the Income Tax Act, 1961 can now file their audit reports by November 10, 2025, instead of October 31. Consequently, the due date for filing the ITR for such taxpayers has also been pushed to December 10, 2025.
This extension applies to companies, Limited Liability Partnerships (LLPs), and other entities whose books of accounts need to be audited. It also benefits professionals and small businesses who were facing difficulties due to late availability of ITR forms and software utilities.
The government’s decision aims to provide adequate time for taxpayers and auditors to ensure accuracy and compliance while reducing last-minute rush and filing errors. The extension also reflects the government’s understanding of the challenges faced by the accounting community, especially with overlapping deadlines for GST audits and other financial filings.
Tax experts advise taxpayers to make the most of this extension by completing audits early and verifying data consistency between GST, TDS, and income tax returns to avoid discrepancies during assessment.
In summary, the new deadlines are:
Audit Report Filing: November 10, 2025
ITR Filing for Audited Taxpayers: December 10, 2025
Missing these dates could still attract penalties and interest, so taxpayers are urged to file well before the final deadline.
Gold and silver prices have experienced significant fluctuations recently. The US-China trade deal and the strengthening US dollar are the primary factors influencing these movements. Investors tend to reduce their investments in precious metals when market and global geopolitical conditions appear stable, leading to a decline in prices.
On the Multi Commodity Exchange of India (MCX), gold for December fell by Rs 1,546 to Rs 1,21,905 per 10 grams. Last week, which had fewer trading days due to holidays, saw gold prices drop by Rs 3,557 (2.80%). Similarly, silver for December decreased by Rs 1,964 to Rs 1,45,506 per kg.
During the same week, silver prices fell by Rs 9,134. Many traders engaged in transactions involving 12,428 gold bars and 20,367 silver bars. The progress in US-China trade talks has contributed to the declining prices since Friday.
The recent price decline can be attributed to the two-day meeting between US and Chinese leaders in Malaysia. They reportedly reached a consensus on key issues such as export rules and shipping tariffs. As a result, the US-China trade deal and the strong US dollar have diminished the demand for safe-haven assets, leading to a further decline in gold prices.
This week, central banks are expected to make significant decisions regarding interest rates. The US Federal Reserve is likely to cut rates by 0.25%, while the European Central Bank and the Bank of Japan are expected to maintain their current rates. Traders are closely monitoring these developments.
Expert Darshan Desai commented, “We should be prepared for significant fluctuations in the short term. Gold prices may fall further.”
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Lenskart IPO GMP Today: The company’s grey market premium has slightly fallen to 16.5% on Wednesday, compared with over 18% on Tuesday and nearly 27% on Monday.
Lenskart IPO GMP Today.
Lenskart IPO GMP Today: Eyewear retailer Lenskart Solutions is set to launch its initial public offer (IPO) on Wednesday, October 31. The price band of the Rs 7,278-crore IPO has been fixed in the range of Rs 382-Rs 402 apiece. Analysts have raised valuation concerns with the IPO, which comes at a price-to-earnings (P/E) ratio of 230x. According to market observers, the grey market premium or GMP has slightly fallen to 16.5% on Wednesday, compared with over 18% on Tuesday and nearly 27% on Monday.
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 468 apiece in the grey market, against the upper IPO price of Rs 402. It means a grey market premium (GMP) of 16.42%, 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: What Analysts Say
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 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.
Though the Lenskart Solutions IPO is debuting at a steep valuation of around 234 times its price-to-earnings (P/E) ratio, analysts said assessing the company’s valuation solely on the basis of its P/E ratio may not present a fair picture. They said Lenskart operates in a high-growth segment with significant untapped potential, given the low penetration of eyewear in India.
According to the Redseer Report, Lenskart emerged as the leading seller of prescription eyeglasses by volume in FY25 among organised retailers in India. The company has also expanded its footprint beyond domestic markets, establishing a presence in Japan, Southeast Asia, and the Middle East.
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.
As part of the transaction, Neha Bansal, one of the promoters, who held 7.61% of Lenskart’s pre-offer paid-up equity share capital (fully diluted basis) prior to the transfer, transferred 2,487,561 equity shares. Neha Bansal continues to hold 7.46% of the pre-offer share capital of the Company on a fully diluted basis after the transfer. The share sale does not form part of the IPO Offer for Sale.
The investment comes on the eve of the opening of Lenskart’s Initial Public Offering (IPO) scheduled for Friday, October 31, 2025.
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, according to people familiar with the development.
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 29, 2025, 12:14 IST
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