Eyewear giant Lenskart Solutions made a muted entry into the stock market on November 10, 2025, with shares opening below the initial public offering price on both major Indian exchanges. The stock listed at 395 rupees on the National Stock Exchange and 390 rupees on the Bombay Stock Exchange, showing a discount of about 2 to 3 percent from the 402 rupees issue price, disappointing some investors amid high expectations from strong subscription numbers.
This weak debut came after the company’s 7,278 crore rupees IPO, which drew massive interest from qualified buyers and retail participants alike. Market watchers point to broader economic pressures and valuation concerns as possible reasons for the lackluster start, even as the firm eyes growth in India’s booming eyewear sector.
IPO Details and Subscription Highlights
Lenskart’s public offering wrapped up with impressive demand, subscribed over 28 times overall. The issue included a fresh share sale worth 2,150 crore rupees and an offer for sale of 5,128 crore rupees by key promoters and investors.
Qualified institutional buyers led the charge, bidding for more than 40 times their allocated shares. Non-institutional investors followed with 18 times subscription, while retail investors showed solid interest at over seven times.
The price band was set between 382 and 402 rupees per share, valuing the company at around 69,700 crore rupees at the upper end. Before listing, the grey market premium dropped sharply, signaling caution among traders.
Promoters like Peyush Bansal and Neha Bansal sold parts of their stakes, along with investors such as Kedaara Capital and Alpha Wave Ventures. This move aimed to unlock value while funding expansion plans.
How Investors Fared on Listing Day
Retail investors who got allotments faced immediate paper losses. Each lot of 37 shares, bought at the issue price, cost 14,874 rupees. At the NSE opening of 395 rupees, that value fell to 14,615 rupees, a loss of 259 rupees per lot.
High-net-worth individuals with larger holdings saw bigger hits. For instance, a typical high-net-worth lot equivalent might mean thousands in notional losses right at the open.
Despite the dip, shares showed some recovery in early trading, climbing about 4 percent from the listing price on both exchanges. By mid-morning, the stock hovered around 405 rupees, erasing initial losses for quick traders.
Market experts suggest holding for long-term gains, given Lenskart’s strong fundamentals. The company’s revenue grew at over 30 percent compound annual rate in recent years, with earnings before interest showing even sharper rises.
Company’s Background and Growth Strategy
Founded in 2010 as an online eyewear seller, Lenskart opened its first physical store in New Delhi three years later. Today, it operates a vast network of over 1,500 outlets across India and select international markets, blending digital and brick-and-mortar retail.
The firm designs, makes, and sells eyeglasses, sunglasses, and contact lenses under its own brands. It uses technology like virtual try-on tools and home eye checks to stand out in a competitive field.
Proceeds from the fresh issue will fuel expansion. Key plans include opening new company-owned stores and boosting marketing efforts.
Here’s a breakdown of how the funds will be used:
| Purpose | Amount (in crore rupees) |
|---|---|
| New store setups | 272.62 |
| Rent and leases for stores | 591.44 |
| Brand promotion | 320.06 |
| Tech investments | 213.37 |
| Acquisitions and general use | Balance |
This strategy targets India’s growing demand for affordable eyewear, driven by rising awareness and an aging population.
Lenskart competes with players like Titan Eyeplus and local chains, but its online edge and manufacturing control give it cost advantages. Recent partnerships and tech upgrades position it for further market share gains.
Market Reaction and Expert Views
Traders on social platforms expressed mixed feelings about the debut. Some praised the company’s growth story, while others worried about high valuations compared to peers like Nykaa or Zomato, which listed at premiums but later faced volatility.
Analysts remain optimistic. One expert noted that Lenskart’s 10 times sales multiple is reasonable given its profit trajectory, unlike some loss-making tech IPOs of the past.
Broader market trends played a role too. Indian indices dipped slightly on listing day amid global uncertainties, including U.S. election aftermath and inflation worries.
For comparison, recent IPOs like those in consumer goods have seen varied performances:
- Strong debuts for firms with solid earnings.
- Discounts for overvalued issues.
- Quick rebounds in cases with strong fundamentals.
Lenskart fits the rebound candidate profile, with plans to expand into Southeast Asia and enhance online sales.
Future Outlook for Lenskart
Looking ahead, the company aims to double its store count in the next few years and invest in sustainable manufacturing. This could drive revenue past current levels, which hit around 7,000 crore rupees annually.
Challenges include rising raw material costs and competition from global brands entering India. However, Lenskart’s focus on affordability and innovation should help.
Investors watching the stock might consider economic indicators like consumer spending trends. With festive seasons approaching, eyewear demand could pick up, supporting share prices.
What do you think about Lenskart’s market debut? Share your thoughts in the comments below and spread the word if this analysis helped you understand the IPO better.
