Lenskart IPO: Grey market buzz nosedives before listing on Monday despite 28x subscription
Lenskart’s ₹7,278 crore IPO drew strong investor participation, getting subscribed 28 times overall. The Qualified Institutional Buyers (QIBs) led the charge with bids 40.35 times their quota, fuelled by strong interest from foreign investors, domestic institutions, and mutual funds.
- Nov 9, 2025,
- Updated Nov 9, 2025 10:37 PM IST
Lenskart IPO: Grey Market Premium Crashes to Zero Ahead of Market Debut Despite Strong Subscription
Eyewear retailer Lenskart Solutions is set to make its much-anticipated stock market debut on Monday, November 10, but the pre-listing buzz has cooled dramatically. The grey market premium (GMP) — a key indicator of investor sentiment ahead of listing — has fallen to zero, suggesting a flat debut despite robust demand during the IPO subscription window.
The GMP, which had once touched a high of ₹108 per share, implying a potential listing gain of more than 25%, has now completely eroded. This means the stock is expected to list around ₹402 per share, matching the upper end of the issue price band (₹382–₹402).
Lenskart’s ₹7,278 crore IPO drew strong investor participation, getting subscribed 28 times overall. The Qualified Institutional Buyers (QIBs) led the charge with bids 40.35 times their quota, fuelled by strong interest from foreign investors, domestic institutions, and mutual funds.
The Non-Institutional Investor (NII) segment saw subscriptions of 18.23 times, while retail investors bid 7.54 times their allocated portion. The employee quota was also fully taken up, subscribed 4.96 times.
In total, the IPO attracted bids for over 281 crore shares against 9.97 crore shares on offer, underlining the market’s long-term confidence in Lenskart’s growth story — even as short-term grey market sentiment turned cautious.
The IPO, which opened on October 31 and closed on November 4, comprised a fresh issue worth ₹2,150 crore and an offer-for-sale (OFS) of over 12.75 crore shares by promoters and existing investors. At the upper price band, the company is seeking a valuation of around ₹72,700 crore (about $7.91 billion). The listing will take place on both BSE and NSE on Monday, November 10, following the share allotment finalised on November 6.
Market watchers say the muted grey market trend may reflect broader caution in the secondary market and valuation concerns, even as Lenskart’s business fundamentals and growth outlook remain strong.
Lenskart IPO: Grey Market Premium Crashes to Zero Ahead of Market Debut Despite Strong Subscription
Eyewear retailer Lenskart Solutions is set to make its much-anticipated stock market debut on Monday, November 10, but the pre-listing buzz has cooled dramatically. The grey market premium (GMP) — a key indicator of investor sentiment ahead of listing — has fallen to zero, suggesting a flat debut despite robust demand during the IPO subscription window.
The GMP, which had once touched a high of ₹108 per share, implying a potential listing gain of more than 25%, has now completely eroded. This means the stock is expected to list around ₹402 per share, matching the upper end of the issue price band (₹382–₹402).
Lenskart’s ₹7,278 crore IPO drew strong investor participation, getting subscribed 28 times overall. The Qualified Institutional Buyers (QIBs) led the charge with bids 40.35 times their quota, fuelled by strong interest from foreign investors, domestic institutions, and mutual funds.
The Non-Institutional Investor (NII) segment saw subscriptions of 18.23 times, while retail investors bid 7.54 times their allocated portion. The employee quota was also fully taken up, subscribed 4.96 times.
In total, the IPO attracted bids for over 281 crore shares against 9.97 crore shares on offer, underlining the market’s long-term confidence in Lenskart’s growth story — even as short-term grey market sentiment turned cautious.
The IPO, which opened on October 31 and closed on November 4, comprised a fresh issue worth ₹2,150 crore and an offer-for-sale (OFS) of over 12.75 crore shares by promoters and existing investors. At the upper price band, the company is seeking a valuation of around ₹72,700 crore (about $7.91 billion). The listing will take place on both BSE and NSE on Monday, November 10, following the share allotment finalised on November 6.
Market watchers say the muted grey market trend may reflect broader caution in the secondary market and valuation concerns, even as Lenskart’s business fundamentals and growth outlook remain strong.