Lenskart Solutions IPO: Check GMP, Price Band And Other Details Of Radhakishan Damani-Backed Public Issue

Lenskart Solutions Ltd. is set to launch its initial public offering (IPO) on Oct. 31. The technology-focused eyewear company is involved in the design, manufacturing, branding and retail of prescription eyeglasses, sunglasses, contact lenses and accessories.

Billionaire investor Radhakishan Damani, founder of Avenue Supermarts (DMart), invested around Rs 90 crore in Lenskart Solutions in a pre-IPO funding round.

The company aims to raise Rs 7,278.02 crore from the primary market at a valuation of nearly Rs 70,000 crore. The IPO price band has been fixed in the range of Rs 382 to Rs 402 per share.

With the subscription date approaching, here's a look at the grey market premium (GMP) and other key details of the Lenskart IPO.

According to InvestorGain, the latest GMP for the Lenskart IPO stood at Rs 91 as of 1:40 p.m. on Monday. With an upper price band of Rs 402 per share, the estimated listing price is likely to be Rs 493, as per the latest GMP. This implies an expected listing gain of 22.64% per share.

Note: GMP does not represent official data and is based on speculation.

The mainboard IPO comprises a fresh issue of 5.35 crore shares, worth Rs 2,150 crore, and an offer-for-sale (OFS) of 12.76 crore shares, amounting to Rs 5,128.02 crore.

Retail investors can apply for a minimum single lot size of 37 shares, requiring an investment of Rs 14,874 at the upper limit of the price band. Small Non-Institutional Investors (sNII) need to apply for at least 14 lots (518 shares), amounting to Rs 2,08,236, while big non-institutional investors (bNII) can apply for 68 lots (2,516 shares), amounting to Rs 10,11,432.

The IPO will remain open for subscription from Oct. 31 to Nov. 4. Tentative allotment of shares is expected on Nov. 6, followed by initiation of refunds and credit of shares to investors’ demat accounts on Nov. 7.

Shares of Lenskart Solutions Ltd. are expected to be listed on the NSE and BSE on Nov. 10.

MUFG Intime India Pvt. Ltd. is the issue registrar, while the book-running lead manager is yet to be announced.

About Rs 272 crore of the proceeds will be spent on setting up new Company-operated Company-owned (CoCo) stores, Rs 591 crore will be utilised for lease, rent and license payments, and Rs 213.38 crore for technology and cloud infrastructure.

Additionally, the company has proposed to utilise Rs 320.06 crore for brand marketing and business promotion, with the remainder will be used for potential acquisitions and general corporate purposes.

Lenskart Solutions Ltd., founded in 2008, is a technology-driven eyewear company engaged in designing, manufacturing, branding, and retailing prescription glasses, sunglasses, contact lenses, and accessories. Primarily serving the India market, it recorded the highest prescription eyeglasses sales in FY 2025, according to a Redseer report. Operating a direct-to-consumer model, Lenskart offers diverse eyewear across all age groups and price segments.

For the financial year ended March 2025, Lenskart Solutions Ltd. reported profit after tax (PAT) of Rs 297.34 crore, compared to a loss of Rs 10.15 crore in FY 2024. The company’s Ebitda rose to Rs 971.06 crore in FY25 from Rs 672.09 crore in the previous financial year. Total income increased 24% YoY to Rs 7,009.28 crore, up from Rs 5,609.87 crore in FY 2024.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult financial advisors and read the red herring prospectus thoroughly before placing bids.