Lenskart Solutions, India's largest prescription eyeglasses retailer by volume among organized retailers, made its debut on the National Stock Exchange (NSE) today. Despite a strong response to its Initial Public Offering (IPO), the company's shares faced a challenging start in the secondary market.

Listing Details

Lenskart's shares opened at ₹395 on the NSE, representing a 1.74% discount to its issue price of ₹402. Shortly after listing, the stock experienced a further decline, falling by 9% from its opening price.

IPO Performance

The company's ₹7,278 crore IPO garnered significant interest from investors, achieving an oversubscription of 28 times. Qualified Institutional Buyers (QIBs) showed particularly strong demand, with their quota being oversubscribed by 40.35 times.

The IPO comprised a fresh issue of ₹2,150 crore and an offer-for-sale of ₹5,128 crore by promoters and investors, including SoftBank Vision Fund, Kedaara Capital, TR Capital, and Chiratae Ventures.

Financial Performance

Lenskart has demonstrated strong financial growth and profitability in recent years:

The company reported a 23% year-on-year increase in revenue for FY25, rising from ₹5,428 crore in FY24 to ₹6,652 crore. Notably, Lenskart turned profitable in FY25, posting a net profit of ₹297.3 crore, compared to losses in the previous two fiscal years.

Company Overview

Lenskart has established itself as a leader in the Indian eyewear market and has been expanding its presence internationally. The company has ventured into markets including Japan, Southeast Asia, and the Middle East, leveraging its strong domestic performance to fuel global growth.

Despite the initial dip in share price, Lenskart's strong financial performance and market position suggest that investors will be closely watching its performance in the coming days and weeks. The company's ability to maintain its growth trajectory and profitability will likely be key factors influencing its stock performance in the secondary market.

Lenskart Solutions Ltd., India's largest organized retailer of prescription eyeglasses by volume, is poised to make its stock market debut on November 10, following a successful Initial Public Offering (IPO) that garnered significant investor interest.

IPO Details

The Lenskart IPO, which closed with an impressive 28.27 times subscription, raised a total of Rs 7,278.02 crore. Here's a breakdown of the offering:

Grey Market Premium Trends

The Grey Market Premium (GMP) for Lenskart shares has shown a notable decline:

This decline in GMP suggests a potential listing price of Rs 436 per share, representing an 8.46% premium over the upper price band of Rs 402.

Key Dates for Investors

Investors should take note of the following important dates:

Company Overview

Lenskart has established itself as a prominent player in the eyewear market:

• Operates primarily through a direct-to-consumer model
• Largest seller of prescription eyeglasses by volume among organized retailers in India
• Expanded presence in international markets including Japan, Southeast Asia, and the Middle East

The company's successful IPO and imminent listing mark a significant milestone in its growth journey. Investors and market watchers will be keenly observing Lenskart's performance as it transitions into a publicly traded company.

As the listing date approaches, the declining Grey Market Premium suggests a moderation in expectations. However, the strong subscription rate indicates robust investor interest in Lenskart's business model and growth prospects.

Investors are advised to consider their financial goals and risk tolerance when making investment decisions, and to keep an eye on market conditions leading up to the listing date.