Lenskart, the eyewear giant, plans to launch one of India’s largest public offerings of 2025, with a current grey market premium of ₹68. The IPO worth ₹7,278.01 crore will open from October 31 to November 4, 2025, and has created quite a buzz among retail investors.
The company’s massive offering combines a fresh issue of ₹2,150 crore and an offer for sale (OFS) of 127,562,573 shares worth ₹5,128.01 crore. Lenskart has grown into a powerhouse in the eyewear market with 2,806 stores worldwide – 2,137 in India and 669 across other countries. The company has fixed its price band between ₹382 and ₹402 per share. Retail investors need to buy a minimum lot of 37 shares, which means an investment of at least ₹14,874. The IPO’s grey market premium hints at possible listing gains when it debuts on November 10, 2025. This piece covers everything in the Lenskart IPO to help you make a smart investment choice.
What are the key dates for Lenskart IPO?
Lenskart has announced all essential dates in its Red Herring Prospectus (RHP) filed on October 25. Here’s what you need to know about the timeline of this major eyewear retail offering.
IPO opens on October 31 and closes on November 4
The company has set a three-day subscription window for its IPO. Bidding starts on Friday, October 31, 2025, and ends on Tuesday, November 4, 2025. Anchor investors can bid for one day on October 30, 2025.
Retail investors must complete their UPI mandate by 5 PM on November 4, 2025. The mandate end date is November 19, 2025, which gives enough time to complete all steps.
Anchor investors will see a phased lock-in period. Half of their investments will have a lock-in until December 6, 2025, and the rest until February 4, 2026.
Allotment expected on November 6
Lenskart will finalize share allotment on Thursday, November 6, 2025. Investors will learn if they got shares based on the company’s criteria. Several reliable sources confirm this allotment date.
The company will start refunds on Friday, November 7, 2025. Successful applicants will get their Lenskart shares in their demat accounts the same day. This quick processing helps complete all steps before trading begins.
Listing scheduled for November 10
Lenskart shares will debut on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Monday, November 10, 2025. The grey market premium ranges between ₹68 and ₹120, which many investors watch closely [prior section information].
Market analysts track the grey market premium to gage potential listing gains [prior section information]. The premium changes with market sentiment and might not always predict the actual listing performance.
The timeline from October 30 to November 10 will see Lenskart become a publicly traded company. This stands as one of 2025’s largest consumer retail sector IPOs. This schedule helps investors plan their participation and understand each step of the IPO process.
How is the IPO structured and who is selling shares?
Lenskart’s public offering combines fresh capital for business expansion with partial exits for early backers. The detailed breakdown shows major participation from founders and institutional investors in this eyewear IPO.
₹2,150 Cr fresh issue and ₹5,128 Cr OFS
Lenskart’s IPO totals ₹7,278.02 crore with two main parts. The company will raise ₹2,150 crore through fresh equity shares for business growth. Additionally, existing shareholders will sell 12.76 crore shares worth ₹5,128.02 crore at the upper price band through an offer for sale (OFS).
This setup means the company receives 29.5% of the total IPO proceeds, while existing investors get 70.5% by selling their stakes. The company won’t receive any money from the OFS portion. The IPO serves two purposes: it brings growth capital for Lenskart’s expansion and lets early investors cash out their investments.
Promoters and investors participating in OFS
The core team and major institutional investors are part of the OFS. CEO and founder Peyush Bansal leads the individual stake sales with 2.05 crore shares. His sister and co-founder Neha Bansal plans to sell about 10.1 lakh shares.
Other key promoters Amit Chaudhary and Sumeet Kapahi will each sell around 28.7 lakh shares. After this partial exit, Lenskart’s four promoters will keep about 17-18% of the company post-IPO – the highest among new-age listed companies.
SoftBank’s SVF II Lightbulb (Cayman) Ltd tops the investor list with 2.55 crore shares for sale. Other major sellers include Kedaara Capital Fund II LLP, PI Opportunities Fund II (ChrysCapital), MacRitchie Investments (KKR), Alpha Wave Ventures, Schroders Capital, and TR Capital.
Breakdown of shares offered by each stakeholder
Early investors stand to make substantial returns. Peyush Bansal’s 2.05 crore shares could fetch about ₹824 crore at the upper price band of ₹402. Neha Bansal’s stake sale should bring in roughly ₹41 crore. Amit Chaudhary and Sumeet Kapahi each expect around ₹115 crore from their sales.
SoftBank leads the institutional investors with 2.55 crore shares worth about ₹1,026 crore. They bought these shares at ₹74.26 average price, making 5.4x returns. Premji Invest (PI Opportunities Fund) shows even better results with 16.7x returns, having paid just ₹24.14 per share.
Schroders Capital will make 10x returns by selling 1.91 crore shares worth ₹766 crore. Temasek expects 4.1x returns on its ₹316 crore stake sale. Kedaara Capital and Alpha Wave should see healthy returns of 5.4x and 3.8x respectively.
These impressive returns might shape the grey market premium as the IPO subscription dates near. Market watchers now focus on how these large stake sales could affect investor sentiment toward the IPO’s grey market premium.
What is the price band and lot size for retail investors?
Lenskart Solutions has set key financial details that let retail investors participate in its upcoming public offering. This eyewear sector listing brings vital information for investors who want to buy shares.
Price band set at ₹382–₹402 per share
The eyewear retailer’s IPO price band ranges from ₹382 to ₹402 per equity share. Each share has a face value of ₹2. Lenskart’s value will reach approximately ₹69,726 crore (about ₹675.04 billion) at the upper end of the price band. This value shows the company’s strong market position with its wide network of stores in India and abroad.
The company offers a ₹19 discount per equity share to eligible employees. This benefit helps employees own a part of the company as it goes public.
Minimum investment of ₹14,874 for 37 shares
Retail investors need to buy shares in lots of 37 equity shares. A single lot costs ₹14,874 at the upper price band. This entry point makes the IPO available to individual investors and maintains good lot economics.
Investors can apply for up to 13 lots, which equals 481 shares worth ₹1,93,362 at the upper price band. Anyone who wants to buy between 14 and 67 lots falls into the small high-net-worth individuals (S-HNI) category.
Retail, QIB, and NII reservation percentages
The company has divided its offering among different investor groups. Qualified institutional buyers (QIBs) get at least 75% of the net offering. Non-institutional investors (NIIs) can access up to 15% of the offering.
Retail investors get up to 10% of the total IPO size. This structure follows regulatory rules for large public offerings and helps secure big institutional investments while giving retail investors a chance to participate.
The current grey market premium shows strong investor interest beyond the formal price band. Reports show the IPO’s grey market premium ranges from ₹68 to ₹84 above the upper price band. This could mean a strong listing performance.
How will Lenskart use the IPO proceeds?
Lenskart plans to raise ₹2,150 crore through its fresh issue component. The eyewear giant has laid out a clear strategy to allocate these funds. Their Red Herring Prospectus details how they’ll deploy this capital across several strategic initiatives over the next three years.
Store expansion and lease payments
Lenskart will use much of its IPO proceeds to grow its physical retail presence. The company plans to spend ₹272.62 crore on capital expenditure to set up new company-operated, company-owned (CoCo) stores across India. This money will cover everything from store fit-outs to interiors and setup costs.
The company has set aside an even bigger amount of ₹591.44 crore to pay for lease, rent, and license agreements for these CoCo stores. This shows Lenskart’s big push for offline expansion and makes up about 27.5% of the total fresh issue proceeds.
Technology upgrades and brand marketing
Lenskart’s tech-focused retail approach means they’ll invest ₹213.37 crore in better technology and cloud infrastructure. This money will help develop AI-driven customer tools and backend systems. It will also pay their internal technology team’s salaries. So, this investment will boost both online and in-store customer experiences.
Brand development plays a crucial role in Lenskart’s growth plans. They’ve earmarked ₹320.06 crore for marketing and business promotion. These funds will help spread brand awareness in both local and international markets. This could affect the live grey market premium as investors watch the company’s growth path.
General corporate purposes and acquisitions
The rest of the money—up to 35% of the total issue size—will go to two main areas. They’ll use it to buy other companies that can expand their product range and reach. The funds will also support general business operations.
While Lenskart hasn’t named specific companies they want to buy, this flexible funding gives them room to grab growth opportunities. As the IPO draws closer, market watchers will track how these investment plans affect the IPO’s grey market premium. The company’s balanced approach to using this money shows their focus on sustainable growth.
What does the grey market premium of IPO suggest?
Lenskart’s upcoming IPO’s grey market performance shows most important investor interest with noticeable price swings before its public subscription period.
GMP currently ranges from ₹68 to ₹120
Lenskart’s shares’ live grey market premium has expressed substantial volatility lately. The GMP reached its peak at ₹120 on October 26 that indicates strong demand. All the same, the premium dropped to ₹68 just a day later on October 27. Market trackers reported varying figures – one source showed a GMP of ₹91, while others quoted ₹75 and ₹84. These differences highlight grey market trading’s informal nature.
Expected listing gains based on GMP
These premium figures suggest investors might see listing gains between 16.92% to 29.85% above the upper price band of ₹402. The potential listing price could range from ₹470 (with ₹68 GMP) to ₹522 (with ₹120 GMP). One source projects a listing price of ₹493 with a 22.64% potential gain. Another estimate points to ₹477, suggesting an 18.66% return.
Cautionary note on relying solely on GMP
Keep in mind that grey market premium trades happen in an unofficial, unregulated market. These premiums can change faster before the actual listing. Financial experts call it risky to base investment decisions only on GMP. Potential subscribers should assess complete factors like Lenskart’s fundamentals, growth outlook, market position, and overall market conditions instead of just following grey market trends.
Conclusion
Lenskart’s upcoming IPO is one of the biggest public offerings in India’s retail sector for 2025. Investors can join this experience from October 31 to November 4. The company’s ₹7,278.01 crore offering comes with a price band of ₹382-₹402 per share. Retail investors can access this IPO with a minimum investment of ₹14,874 for 37 shares, though only 10% of shares are set aside for this category.
The eyewear leader plans to use ₹2,150 crore from fresh issues to expand stores, advance technology, and build its brand. Early backers like SoftBank and Premji Invest will get impressive returns through the OFS component while keeping substantial stakes in the company.
The grey market premium fluctuates between ₹68 and ₹120, which hints at possible listing gains when shares hit the market on November 10. Smart investors should look past these unofficial indicators. They need to see Lenskart’s strong position with 2,806 stores worldwide and its clear growth plans.
This IPO marks a turning point as Lenskart moves from private to public ownership with a valuation near ₹69,726 crore. Investors should weigh the company’s growth path, its edge in the eyewear market, and its financial strength before they decide to invest in this eagerly awaited offering.
Frequently Asked Questions
Lenskart has set its IPO price band between ₹382 and ₹402 per equity share. The minimum investment required for retail investors is ₹14,874 for a lot of 37 shares.
The Lenskart IPO is scheduled to open for public subscription on October 31, 2025, and will close on November 4, 2025. The listing is expected to take place on November 10, 2025.
Lenskart plans to use the IPO proceeds for store expansion, technology upgrades, brand marketing, and potential acquisitions. Specific allocations include ₹273 crore for new stores, ₹591 crore for lease payments, and ₹213 crore for technology infrastructure.
The grey market premium for Lenskart’s IPO has ranged from ₹68 to ₹120, suggesting potential listing gains of 16–30%. However, investors should note that grey market premiums are unofficial and can be highly volatile.
The IPO includes an Offer for Sale (OFS) component where existing shareholders will sell shares. Major sellers include founder Peyush Bansal (2.05 crore shares), SoftBank (2.55 crore shares), and other institutional investors like Kedaara Capital and PI Opportunities Fund.
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