Lenskart IPO Opens Day 1 Live Updates: Retail portion subscribed 42% so far on Day 1; GMP at 18%

Lenskart IPO Opens Day 1 Live Updates: The ₹7,278.02 crore initial public offering (IPO) of SoftBank-backed eyewear startup Lenskart Solutions opened for subscription on Friday, October 31. The company is offering its shares in a price band between ₹382-402 per share.

Ahead of the opening of the IPO, Lenskart raised ₹3,268.4 crore from anchor investors, including Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global (Norway), BlackRock, Goldman Sachs, Nomura, JP Morgan, among others.

At this higher end of the price band, Lenskart Solutions will be valued at around ₹69,741 crore on a post-issue basis. Investors can make bids in lots of 37 shares and in multiples thereafter.

The issue will close for subscription on November 4. A key point of caution among analysts is the quality of recent profit. The company has become PAT positive in FY25, reporting a profit of ₹297 crore. However, this profit largely stems from a one-time, non-cash accounting gain, leading to high P/E multiples on a normalised basis.