Eyewear retailer Lenskart Solutions witnessed a slow market start on Monday (November 10, 2025), with a discount of 3% against the issue price of Rs 402. The stock went live at Rs 390, down close to 2.98% from the issue price on the BSE. Later, it dropped by 11.52% to Rs 355.70 before rising back to trade at Rs 403.80 apiece, up by 0.44%.
On the NSE, the stocks were listed at Rs 395 apiece, after a discount of 1.74%, and further showcased a fall to Rs 356.10 -a decline of 11.41%. The shares were later able to recover and trade at Rs 404, up by 0.5%.
The company’s market valuation stood at Rs 69,021.21 crore on the NSE. The initial public offering (IPO) of the eyewear brand received 28.26 times subscription on the final day of the share sale on Tuesday, led by institutional buyers.
The Rs 7,278 crore initial public offering (IPO) had a price band of Rs 382–Rs 402 per share.
The IPO comprised a fresh issue of shares worth Rs 2,150 crore and an offer for sale (OFS) of 12.75 crore equity shares by promoters and investors.
Lenskart’s Plan with the Investment Proceeds
Lenskart has highlighted that it would use the proceeds from the IPO for strategic initiatives, including capital expenditure to set up new company-operated, company-owned (CoCo) stores in India, and payments under lease, rent, and licence agreements for these CoCo stores.
Investments in technology and cloud infrastructure, brand marketing and business promotion to enhance brand awareness, potential unidentified inorganic acquisitions, and general corporate purposes were some of the other goals stated by the firm.
In the pre-IPO funding round, SBI Mutual Fund invested ₹100 crore in Lenskart, while Radhakishan Damani, founder of Avenue Supermarts (D-Mart), invested around ₹90 crore. Lenskart offers a wide range of prescription eyeglasses, sunglasses, and contact lenses through its online platform and retail network.
Lenskart’s High Valuation Concern
Independent market analyst Ambareesh Baliga told Reuters that the weak debut highlighted how valuations remain crucial in IPO investing. He expressed skepticism about the valuation projected by the brand and stated that, from a business model perspective, Lenskart could be a good investment—but at a more reasonable valuation, which would be much lower than the present one.
The weak debut further stood out as most other major IPOs this year have rewarded investors on listing. LG Electronics India’s Rs 11,600 crore issue delivered one of the strongest debuts, according to Moneycontrol.
