Can Lenskart, India’s leading homegrown eyewear brand, make a strong debut on Dalal Street? That’s the big question investors are asking as the much-awaited Lenskart IPO gears up to open for subscription this week.
Lenskart IPO: GMP buzz ahead of opening
Investor excitement is already visible in the grey market, where Lenskart shares are trading at a premium of ₹108. This indicates a potential listing price of around ₹510 per share, roughly 27% higher than the IPO’s upper price band of ₹402.
However, it’s important to note that the grey market premium (GMP) is only an unofficial indicator and may not accurately predict the actual listing price, which will ultimately depend on market conditions and investor demand during the subscription period.
Lenskart IPO: Key dates
The IPO will open for subscription on October 31 (Friday) and close on November 4 (Tuesday). The basis of allotment is expected to be finalized on November 6, and the listing on NSE and BSE is scheduled for November 10, with trading commencing at 10 AM.
Lenskart IPO: Price band, lot size, and structure
- Price band: ₹382–₹402 per share
- Lot size: Minimum 37 shares (₹14,874 per lot)
- Maximum retail investment: Up to 13 lots (481 shares or ₹1.93 lakh)
Investor quota allocation:
- Qualified Institutional Buyers (QIBs): 75%
- Non-Institutional Investors (NIIs): 15%
- Retail Investors: 10%
Issue size and composition
The ₹7,278 crore IPO comprises both a fresh issue and an offer for sale (OFS):
- Fresh issue: ₹2,150 crore
- Offer for Sale (OFS): ₹5,128 crore (12.75 crore shares)
Promoters and investors selling stakes
Under the OFS, several key stakeholders will offload shares, including founders Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary, alongside major global investors such as SoftBank’s SVF II Lightbulb (Cayman), PI Opportunities Fund II, Macritchie Investments, Schroders Capital, Kedaara Capital, and Alpha Wave Ventures.
In a recent pre-IPO funding round, Radhakishan Damani, the billionaire founder of DMart, reportedly invested ₹90 crore in the company.
Lenskart IPO: Objectives of the issue
Proceeds from the fresh issue will be utilized for:
- Expanding company-owned stores (CoCo model) across India
- Repayment of store rentals and other borrowings
- Upgrading technology infrastructure
- Brand marketing and strategic acquisitions
- General corporate purposes
About Lenskart
Founded in 2008, Lenskart began as an online eyewear platform and opened its first physical store in 2013. The company has since evolved into a multi-channel retail leader, operating across Tier-1 and Tier-2 cities in India and expanding into Southeast Asia and the Middle East.
📄 Disclaimer: This article is for informational purposes only and does not constitute investment advice, recommendation, or solicitation. Investors should carefully read the Lenskart IPO Red Herring Prospectus (RHP) and consult financial professionals before making investment decisions.
