✅ Lenskart IPO & GMP 2025: Latest Updates and What Investors Should Know

Lenskart Solutions—India’s fastest-growing eyewear retailer—made headlines with its initial public offering in late 2025. The IPO was one of the most anticipated listings of the year and received a massive subscription of 28.26 times, driven by strong demand from institutional and retail investors.

But as soon as the IPO closed, all eyes shifted to the Grey Market Premium (GMP), which indicates expected listing price performance before trading officially begins. And just like many high-profile IPOs, Lenskart’s GMP saw intense volatility.

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Let’s break down the IPO details, why the GMP fluctuated so sharply, and what investors should watch going forward.

✅ Lenskart IPO — Key Details

Subscription numbers were impressive:

• ✅ QIBs subscribed 40.36x

• ✅ HNIs and retail investors also oversubscribed significantly

• ✅ Overall subscription: 28.26x

Investor interest was huge—but market sentiment was mixed.

✅ What Is GMP and Why Does It Matter?

The Grey Market Premium (GMP) is the unofficial price at which IPO shares are traded before the stock market listing.
It shows what investors think about potential listing gains.

• ✅ Positive GMP → Expected listing gains

• ❌ Falling or negative GMP → Weak or cautious sentiment

✅ Lenskart IPO GMP Trend — Why It Fell Sharply

Lenskart’s GMP moved dramatically:

• Early peak: ₹108 (≈ 27% listing premium)

• Before listing: Dropped to ₹6–₹10

• Listing Day: Shares opened near ₹402–₹412, barely above issue price

Major reasons for the drop:

✅ 1. High Valuation Concerns

• IPO valued the company at 50x EV/EBITDA

• Much higher than most retail/consumer peers in India

✅ 2. Negative Brokerage Coverage

• Ambit Capital issued a Sell rating

• Report warned valuations were stretched and profitability uncertain

✅ 3. Market Volatility

• Indian markets were going through corrections

• Consumer retail stocks were under pressure

✅ 4. Profitability Challenges

• Lenskart is still in expansion mode

• Losses expected in near term due to marketing + store rollout costs

✅ What Does This Mean for Investors?

GMP does not guarantee listing gains, but it does reflect sentiment.

For Lenskart:

• Investors expect modest or flat listing

• No signs of hype-driven premium

• Post-listing price will depend on quarterly performance and profitability roadmap

✅ Lenskart Business — Strengths and Growth Drivers

Lenskart runs one of India’s biggest omnichannel eyewear networks:

✅ 2,500+ stores across India
✅ Strong online ordering & 3D scanning tech
✅ In-house manufacturing + private labels
✅ Contact lenses, sunglasses, optical frames

Growth drivers ahead:

• Fast expansion into tier-2 and tier-3 cities

• New product lines (lenses, eye-care)

• Technology-led fittings and customer experience

• Strong digital marketing and brand influencers

IPO funds will be used for:

• New stores

• Technology upgrades

• Working capital

• Brand promotions

✅ What Should Investors Track After Listing?

✅ Final Verdict

Lenskart’s IPO shows strong investor trust in India’s retail and D2C sector.
But with a cooling GMP and expensive valuations, investors should stay cautious.

✔ Great long-term growth story
✔ Category leader with strong brand recall
✔ Tech-driven business & huge market potential

But…

❌ Profitability is still a concern
❌ Valuations are high
❌ Listing gains may be limited in short term

Smart takeaway:
Instead of chasing listing hype, investors should track future earnings, expansion, and profitability before making long-term commitments.