Lenskart Solutions IPO: Check day 2 subscription status, analysts' views & latest GMP

The initial public offering (IPO) of Lenskart Solutions continued to see a decent response from the investors on the second day of the bidding process, with all categories getting fully booked. The issue, which kicked off on Friday, October 31, was fully subscribed on day one.

Lenskart Solutions is selling its shares in the price band of Rs 382-402 apiece. Investors can apply for a minimum of 37 shares and its multiples thereafter. It is looking to raise Rs 7,872.02 crore via IPO, which includes a fresh share sale of Rs 2,150 crore and offer-for-sale (OFS) of up to 12,75,62,573 equity shares worth Rs 5,128.02 crore

According to the data, the investors made bids for 18,49,15,270 equity shares, or 1.85 times, compared to the 9,97,61,257 equity shares offered for the subscription by 2.45 pm on Monday, November 03, 2025. The bidding for the issue shall continue for three-days and will conclude on Tuesday, November 04.

The allocation for retail investors was subscribed 3 times, while the portion reserved for non-institutional investors (NIIs) saw a subscription of 1.52. The portion reserved for employees was subscribed 2.39 times. However, the quota set aside for qualified institutional bidders (QIBs) was booked 1.62 times as of the same time.

Established in 2008, Lenskart Solutions is a technology-focused eyewear company involved in the design, manufacturing, branding, and retail of prescription eyeglasses, sunglasses, contact lenses, and accessories. Operating under a direct-to-consumer model, it offers a broad range of eyewear under its own brands and sub-brands, catering to all age groups and price segments.

Lenskart has a centralized supply chain and automated manufacturing. It has In-House Frame and lens engineering and manufacturing capabilities along with customer-focused product design capabilities & owned lenskart brand and portfolio of owned sub-brands. It has a technology first approach to customer experience and operational efficiency," said Hem Securities with a 'subscribe' rating.

Ahead of its IPO, Lenskart Solutions raised a total of Rs 3,268.36 crore from 147 anchor investors as it allocated 8,13,02,412 equity shares at Rs 402 apiece. Lenskart Solutions has reserved 75 per cent of the net offer qualified institutional bidders (QIBs), while non-institutional investors will get 15 per cent shares. Retail investors have an allocation of 10 per cent in the IPO.

Lenskart is a technology-driven eyewear retailer and the largest seller of prescription eyeglasses in India by volume in FY25, and the second largest in Asia. With an estimated 4-6 per cent market share in India's prescription eyewear segment, Lenskart operates a scalable omni-channel model spanning 2,800 stores, online platforms, and a home try-on service, said Antique.

"It designs and markets products across 22 owned brands and 79,000 SKUs, supported by centralized manufacturing facilities in India, Singapore, and the UAE, and an installed capacity of 28.5 mn units with 55% utilization. The issue looks fully priced in at an implied market cap of Rs 69,700 crore and leaves no upside. The trailing P/E at this valuation is 228 times," it added.

For the three-months ended on June 30, 2025, Lenskart Solutions reported a net profit of Rs 61.17 crore with a revenue of Rs 1,946.10 crore. It clocked a net profit of Rs 297.34 crore with a revenue coming in at Rs 7,009.28 crore for the year ended on March 31, 2025. Last heard, It was commanding a grey market premium of Rs 60-65 per share, suggesting 16 per cent uspide.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are the lead managers for the issue, while MUFG as registrar. Shares of the company shall be listed on both BSE and NSE on November 10, Monday.