Eyewear retailer Lenskart Solutions will launch its initial public offering (IPO) on October 31, with a price band fixed at Rs 382–402 per share.
The Rs 7,278-crore public issue will close on November 4. Bidding for anchor investors is scheduled for October 30. At the upper end of the price range, the company is seeking a valuation of more than Rs 69,700 crore.
Lenskart is the country’s largest organised retailer of prescription eyeglasses by B2C sales volumes, and among the top two players in Asia. The company has reported growth in both revenue and operations over recent years.
Lenskart IPO: Should you subscribe?
The analysts at the SBI Securities, noted that the valuation at the upper price band works out to 10.1 times FY25 EV/Sales and 68.7 times EV/EBITDA on a post-issue basis. They noted that the issue appears stretched on valuation, which could limit listing gains. However, they cited the company’s business model and the potential of the domestic eyewear market as key positives.
The research report said profitability metrics will be closely monitored, as the company scales up operations. Lenskart’s reported EBITDA margin improved from 7.0 percent in FY23 to 14.7 percent in FY25. The brokerage report advised subscribing to the IPO for the long term at the cut-off price.
Lenskart IPO GMP Today Price
According to platforms tracking the grey market activities, the shares of the company are commanding a GMP of 22 percent in the unregulated market. Investorgain quoted a GMP of Rs 90 for the shares of the company, indicating a listing gain of 22.39 percent.
Founded in 2008, Lenskart began as an online platform in 2010 and opened its first store in New Delhi in 2013. It now operates across metro, Tier-1 and Tier-2 cities in India, along with international markets in Southeast Asia and the Middle East.
As per the offer structure, 75 per cent of the issue is reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail participants.
Lenskart shares are expected to list on the stock exchanges on November 10.
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