After months of buzz in the financial world, Lenskart, India’s homegrown eyewear giant, made its much-awaited stock market debut. Expectations were sky-high given the company’s strong brand presence, digital reach, and consistent growth in recent years. However, the debut turned out to be muted, surprising many investors who expected a premium opening.
This article breaks down why the listing fell short, what it means for investors, and how Lenskart’s long-term outlook still holds potential despite the early setback.
1. Overview of the IPO
Lenskart’s IPO opened for subscription between October 31 and November 4, 2025, with a price band of ₹382–₹402 per share.
The total issue size was ₹7,278 crore, comprising a fresh issue worth ₹2,150 crore and an offer for sale (OFS) of ₹5,128 crore by existing shareholders.
Read next: Understanding IPO Valuation Metrics for Retail Investors
2. Listing Day Performance
Despite being oversubscribed, Lenskart’s listing disappointed short-term investors.
On the NSE, shares debuted at ₹395, about 1.7% below the issue price.
On the BSE, it opened at ₹390, reflecting a 3% discount.
During the first trading session, the stock hit an intra-day low of ₹356 before recovering slightly to close around ₹392–₹404.
Related read: Top Reasons Why IPOs List Below Their Issue Price
3. Reasons Behind the Muted Debut
a. Overvaluation Concerns
Analysts noted that Lenskart’s valuation was stretched, trading at a premium compared to peers. Its price-to-earnings (P/E) ratio and growth assumptions left limited room for short-term gains.
b. Weak Market Sentiment
Leading up to the listing, the Grey Market Premium (GMP) dropped from ₹70 (~27%) to ₹30 (~18%), signaling fading optimism.
c. Profitability Concerns
Though Lenskart turned profitable in FY25, investors questioned whether the company could sustain those profits amid rising marketing and expansion costs.
Explore more: How to Identify Long-Term Potential in IPO Stocks
4. Investor Impact
| Investor Type | Impact / Strategy |
|---|---|
| Short-Term Traders | Lost roughly ₹259 per lot due to a 2% discount at listing. |
| Long-Term Investors | May consider holding; brand has strong fundamentals and market dominance. |
| Cautious Investors | Should monitor quarterly earnings before making fresh entries. |
5. Financial Snapshot of Lenskart
| Metric (FY25) | Details |
|---|---|
| IPO Price Band | ₹382–₹402 per share |
| Listing Price (NSE) | ₹395 |
| Listing Price (BSE) | ₹390 |
| Issue Size | ₹7,278 crore |
| Fresh Issue | ₹2,150 crore |
| Offer for Sale (OFS) | ₹5,128 crore |
| Lot Size | 37 shares |
| Grey Market Premium (GMP) | ₹70 early, dropped to ₹30 |
| Listing Day Loss (per lot) | ₹259 |
| Intra-day Low | ₹356 |
| Subscription Rate | 28× overall; QIBs led with 45× |
6. The Bigger Picture
While the listing performance was lackluster, Lenskart’s fundamentals remain strong. The brand commands a leading share in India’s eyewear market, offering a unique omnichannel model combining online convenience with physical experience stores.
The company is also expanding globally, with a strong presence in Singapore, UAE, and other Southeast Asian markets. As India’s middle-class spending power grows, Lenskart could benefit from rising demand for affordable, stylish eyewear.
Read also: India’s Growing Eyewear Market: Trends and Insights
Conclusion
The Lenskart IPO serves as a valuable reminder that brand reputation doesn’t guarantee listing-day success. Despite a modest start, the company’s long-term growth story remains intact, supported by innovation, customer loyalty, and strong business fundamentals.
For investors, the key lies in patience — while the IPO debut was muted, the vision for Lenskart’s growth is far from blurry.
Explore next: Upcoming IPOs to Watch in 2025 and How to Choose the Right IPO for Long-Term Gains
This article is for education and information only. It is not investment advice. Markets are risky—do your own research and consult a SEBI-registered adviser before investing.
#LenskartIPO #LenskartListing #StockMarketIndia #NSE #BSE #IPOListing #MutedDebut #Carrerbook #Anslation #ListingGains #GMP #EquityMarkets #InvestingIndia #PrimaryMarket #NewListing