Lenskart Solutions Ltd. shares are currently trading approximately 12% higher in the grey market, indicating potential listing gains. However, the grey market premium (GMP) has decreased to ₹48 from ₹108, reflecting a slight decline in investor enthusiasm. Lenskart, supported by SoftBank, aims to raise ₹7,278 crore through its IPO, which could value the company at around ₹69,741 crore. The price range is set between ₹382 and ₹402 per share, with each lot comprising 37 shares, requiring a minimum investment of ₹14,874. Anchor investors are allowed to place bids today, while the IPO is scheduled to open tomorrow and conclude on November 4.
The company plans to generate ₹2,150 crore from new share issues, with existing investors selling 12.76 crore shares via an offer for sale (OFS). Notable sellers include founder Peyush Bansal, SoftBank, Kedaara Capital, ChrysCapital, KKR, and Alpha Wave Ventures. Prior to the IPO, SBI Mutual Fund invested ₹100 crore, estimating Lenskart’s value at around $7.7 billion, while DMart founder Radhakishan Damani purchased shares worth ₹90 crore. Following the IPO, the promoters’ ownership will reduce from 19.9% to 17.7%. Over the past three years, Lenskart has achieved over 30% revenue growth annually, with EBITDA rising by over 90% each year. For FY25, the firm reported revenue of ₹6,652 crore and a profit of ₹297 crore, including a one-time gain.
Lenskart operates more than 2,100 stores, with 40% of its revenue originating from international markets. The IPO is being managed by Kotak Mahindra Capital, Axis Bank, Avendus Capital, Citigroup, Morgan Stanley, and Intensive Fiscal Services. Founded by Peyush Bansal, a judge on Shark Tank India, Lenskart is one of the most anticipated IPOs in India, coinciding with expectations for a record year for IPOs in 2025.