Lenskart's ₹9,000 crore IPO gets subscribed 2x on Day 2
Lenskart's IPO is creating buzz, getting subscribed twice over by Day 2—retail investors oversubscribed their portion by 3.33 times, while non-institutional and institutional buyers subscribed at 1.88x and 1.64x, respectively.
Lenskart's business model and recent financial performance
Started in 2010, Lenskart has grown into India's largest seller of prescription eyeglasses by volume, running over 2,700 stores in India and abroad.
They design and sell prescription glasses straight to customers both online and offline.
In FY25, they bounced back from losses to post a ₹297 crore profit on ₹6,652 crore revenue—a solid turnaround.
IPO details and future plans
The IPO runs from October 31 to November 4 with shares priced at ₹382-₹402 each, valuing the company at about ₹69,741 crore post-issue.
With a gray market premium of around ₹60 per share, early signs point to a possible 15% listing gain when shares hit the market on November 10.
Funds raised will help Lenskart expand stores and upgrade its tech for future growth.