Lenskart IPO Day 2: Rs 7,278-Crore Public Issue Draws Strong Investor Buzz; Should You Apply or Wait?

Lenskart Solutions launched a Rs 7,278 crore IPO, open for subscription until November 4, attracting significant investor interest. The price band is set at Rs 382–Rs 402 per share.

Lenskart Solutions' Rs 7,278 crore mega initial public offering (IPO) entered its second day of subscription on Monday (November 3), continuing to generate strong investor enthusiasm amid a rising grey market premium (GMP). The IPO, which opened on October 31, will remain open for bidding until November 4. Market watchers say investors are showing keen interest in the eyewear retailer’s omnichannel growth story and global ambitions.

GMP Soars as Demand Builds

As of November 1, 2025, at 3:54 PM, Lenskart's IPO commanded a grey market premium (GMP) of Rs 85, according to market observers. Based on the upper price band of Rs 402 per share, the estimated listing price stands around Rs 487, suggesting potential listing gains of over 21%.

"The GMP reflects strong investor appetite for consumer-tech brands with a solid retail backbone," said a market analyst. "Lenskart's digital-first model and omnichannel presence make it a compelling play in India's growing eyewear market."

Price Band and Key Dates

The company has set a price band of Rs 382–Rs 402 per share, valuing Lenskart at around Rs 69,676 crore at the upper end. Anchor investors placed their bids on October 30, followed by the public issue opening on October 31. The issue will close on November 4, with the basis of allotment expected on November 6, refunds and share credits on November 7, and listing on November 10.

Retail investors can bid for a minimum of one lot of 37 shares, amounting to Rs 14,874 at the upper price band.

Why Investors Are Excited

Lenskart has built a strong presence in the eyewear space, driven by a tech-enabled, direct-to-consumer model. Its key strengths include:

• Automated, AI-driven supply chain: Ensures cost efficiency and consistent product quality.
• In-house design and manufacturing: Enables faster launches and innovation.
• Omnichannel integration: Seamlessly connects online and offline platforms for customers.
• Global reach: Expanding presence across India, Southeast Asia, and the Middle East.

Risks Investors Should Note

However, analysts also caution that investors should weigh certain risks. Lenskart sources several components and raw materials from China through its joint venture, Baofeng Framekart Technology Limited. Any supply disruption could impact operations and financial performance.

Additionally, ongoing legal proceedings involving the company and its key personnel could pose a reputational or financial risk if outcomes turn unfavourable.

Analysts' Take

Experts believe the IPO is reasonably priced, considering the company's consistent revenue growth and expanding footprint. "Investors with a medium- to long-term horizon may consider subscribing for potential value appreciation," said a senior market strategist.

The next few days of subscription and the eventual listing on November 10 will determine whether Lenskart can live up to the strong buzz it has created in India's IPO market.