Despite concerns over pricing, retail investors were very interested in the initial public offering (IPO) of omnichannel eyewear retailer Lenskart; the issue was subscribed about thirty times.

Subscriptions for the IPO were accepted between October 31 and November 4, with a minimum investment of Rs 14,874 and subsequent multiples, and a price range of Rs 382–402 per equity share.

Key Highlights

• Lenskart Solutions’ ₹7,278 crore IPO drew bids over ₹1.13 trillion—subscribed nearly 30 times. 
• Qualified institutional buyers subscribed over 40 times, retail investors about 7.5 times in the offering.

The Gurugram-based business, which is valued at about Rs 70,000 crore ($8 billion), intends to raise Rs 2,150 crore through a new issue and Rs 5,028 crore through an offer for sale (OFS), according to its RHP.

Exchange data shows that Lenskart's IPO was oversubscribed 28.26 times, with the retail portion subscribing 7.53 times, QIBs (ex-anchors) subscribing 40.35 times, Non Institutional Investors (NIIs) subscribing 18.2 times, and the employee portion subscribing 4.96 times.

The grey market premium (GMP) for Lenskart is around Rs 58 per share, which is 14.4% more than the issue price.

The Peyush Bansal-led company raised Rs 3,268 Cr from anchor investors during the IPO process.

Also Read: Lenskart Secures Rs 3,268 Cr Led by Anchor Investors 

Lenskart intends to invest in technology and cloud infrastructure, build new CoCo stores, pay for lease and rental costs, increase brand marketing and promotions, finance acquisitions, and use the funds from the new issuance for general company objectives.

The founders of Lenskart are anticipated to get exit proceeds of approximately Rs 1,100 crore ($125 million) from the IPO. Premji Invest and Schroders Capital are examples of early-stage investors that may see returns on their capital of up to 17 times.

Financially speaking, Lenskart's revenue increased by 22.6% year over year to Rs 6,653 crore in FY25 from Rs 5,428 crore in FY24, propelling the company from a loss of Rs 10 crore in FY24 to a net profit of Rs 297 crore in the most recent fiscal year.

The SoftBank-backed business reported a profit of Rs 61 crore in Q1 FY26 as opposed to a loss of Rs 10.9 crore in Q1 FY25, and its operational revenue increased by 25% to Rs 1,894.4 crore.