Lenskart Solutions Ltd — India’s largest organised eyewear retailer — has launched one of the most awaited IPOs of 2025. Investors are closely watching its GMP (Grey Market Premium), subscription data, and valuation trends.
In this article, we decode these numbers and explain what they mean for Indian investors — simply and practically.
| Detail | Information |
|---|---|
| Company | Lenskart Solutions Ltd |
| Industry | Eyewear & Optical Retail |
| Price Band | ₹382 – ₹402 per share |
| Issue Size | ₹7,278 crore (Fresh + OFS) |
| Valuation (Upper Band) | Approx ₹69,700 crore |
| Subscription Window | 31 Oct – 4 Nov 2025 |
| Allocation | QIB 75%, NII 15%, Retail 10% |
| Expected Listing Date | 10 November 2025 |
| Allotment Date | 6 November 2025 |
Quick insight:
Strong brand presence and digital scale make Lenskart a high-interest IPO — but analysts highlight its premium valuation as a key caution.
The Grey Market Premium (GMP) represents the extra amount investors are ready to pay over the IPO issue price in the unlisted or “grey” market.
It’s unofficial and unregulated, serving only as a sentiment indicator, not a guarantee.
Provides a quick gauge of investor enthusiasm before listing.
Helps understand short-term listing expectations.
Reflects demand momentum — but can be speculative.
Treat GMP as a secondary signal. Always check fundamentals, subscription data, and peer valuation before taking decisions.
| Date | GMP (Approx) | Subscription Status | Observation |
|---|---|---|---|
| Day 1 | ₹70 (~17% over ₹402) | 1.15× overall | Strong early interest |
| Day 2 | ₹108 (~26–27%) | 2.02× overall; Retail 3.33× | Rising enthusiasm |
| Day 3 (Final Day) | ₹85 (~21%) | 3× overall (est.) | Healthy but stabilised demand |
Interpretation:
GMP peaked around ₹108 and then cooled to ₹85, indicating sustained but moderated optimism. Subscription figures — especially retail — remained strong, showing decent participation despite valuation concerns.
Timeline Recap:
Allotment Date: 6 November 2025
Listing Date: 10 November 2025 (BSE & NSE)
Strong omni-channel brand with nationwide presence.
Growth opportunity in Tier-2 and Tier-3 cities.
Positive GMP reflects early optimism.
Backed by credible institutional investors.
High valuation (~₹70,000 crore) may limit short-term upside.
GMP softened near closing, hinting at cautious sentiment.
Listing performance depends on broader market liquidity.
Fundamentals post-listing will decide true value.
Allotment ratio & QIB participation.
Listing day opening trend & volumes.
Sector peers’ valuation movements.
Broader IPO market momentum.
Read DRHP & prospectus carefully — focus on revenue mix, margin, and expansion strategy.
Don’t chase high GMP blindly; confirm demand sustainability.
Keep IPO allocation proportional to portfolio risk.
If planning to sell on listing, set target & exit range beforehand.
Track institutional subscription for confidence cues.
As of the latest reports, GMP is around ₹85 per share, roughly 21% above issue price.
By Day 2, the IPO was subscribed ~2.02× overall, with retail 3.33×. Final day estimates show around 3× total.
No. It only reflects early sentiment — not confirmed listing gains. Prices can change with market mood.
Only if fundamentals and valuation suit your risk appetite. GMP alone shouldn’t drive decisions.
Allotment expected on 6 November 2025, and listing likely on 10 November 2025 on NSE & BSE.
Lenskart’s IPO has drawn strong investor attention and maintains a positive GMP, suggesting a healthy debut.
Still, investors should weigh valuation, fundamentals, and risk tolerance carefully. GMP helps measure sentiment — not certainty.
Apply only if the business model and long-term growth story align with your portfolio goals.
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