Lenskart Solutions is set to launch its Rs 7,278-crore initial public offering (IPO), opening for public subscription on October 31 and closing on November 4, with anchor bidding starting on October 30. The eyewear retailer has fixed a price band of Rs 382–402 per share, valuing the company at around Rs 69,700 crore. Grey market signals suggest weakening sentiment, with shares currently commanding a 17% premium, or Rs 70, implying potential listing gains of about 17.4%, down from nearly 27% earlier this week.
SBI Mutual Fund recently invested Rs 100 crore in a pre-IPO round. Analysts at SBI Securities said the valuation—10.1 times FY25 EV/Sales and 68.7 times EV/EBITDA—appears expensive, which could cap short-term gains. Still, they highlighted Lenskart’s strong business model and the growing Indian eyewear market as positives. The firm’s EBITDA margin rose from 7.0% in FY23 to 14.7% in FY25. The brokerage recommended subscribing for long-term gains. Share allotment is due on November 6, with the listing scheduled for November 10.
