October 31, 2025 :The Lenskart IPO is now open for subscription, amid an online debate over its valuations that’s reflecting in its grey market premium today.
On offer in the Lenskart IPO are 18.10 crore shares—5.35 crore new and 12.75 crore via offer for sale—in a price range of ₹382-402 apiece to raise as much as ₹7,278 crore, according to the company’s red-herring prospectus. That pegs the company’s valuation at nearly ₹70,000 crore. The lot size is set at 37 shares or multiples thereof, which translates to a minimum investment of ₹14,874 for retail investors.
While the filing of its red-herring prospectus set the stage for listing, the grey market has been signalling shifts in sentiment, as seen in the evolving GMP.
But before we look at the Lenskart IPO GMP today, here’s a proviso: The grey market premium is a signal, not a guarantee. It reflects what traders are willing to pay for an IPO-bound stock in the unofficial market—it doesn’t guarantee listing-day gains. The GMP can swing dramatically as it’s detached from fundamentals of a stock.
| Date | Reported GMP | Implied Listing Price | Approx Premium |
|---|---|---|---|
| 26 October | ~ ₹120 | ~ ₹522 | ~29.8% |
| 27 October | ~ ₹108 | ~ ₹510 | ~26.9% |
| 28 October | ~ ₹111 | ~ ₹513 | ~27.6% |
| 29 October | ~ ₹80 | ~ ₹482 | ~19.9% |
| 30 October | ~ ₹48–63 | ~ ₹450–465 | ~11.9-15.6% |
| 31 October | ~ ₹70 | ~ ₹472 | ~17.4% |
Lenskart IPO GMP movement
In mid-October, prior to lofty valuations becoming widely discussed, some grey-market reports pegged Lenskart’s implicit price at around ₹510 per share—suggesting a GMP of roughly ₹108 above the upper band of ₹402 (~27%). On 14 October, one unlisted market report already noted shares “touching ₹510 apiece in the grey market”.
By the end of October, though, the GMP began to moderate. Estimates around ₹75-80 were reported, which implied listing gains of 18-20%. On 29 October, the grey-market premium was quoted at ₹48 (~12% gain) as valuation concerns reportedly spread.
Today, as the subscription window opened, GMP levels are again landing at around ₹70 per share (~17% premium).
What does Lenskart IPO GMP movement indicate?
The sharp surge in GMP early on suggested strong investor enthusiasm for Lenskart’s growth story—its turnaround to profitability in FY25 ( ₹297 crore) from a loss the year before bolstered interest. The expectation was reinforced by the large size ( ₹7,278 crore) and a high valuation ( ₹70,000 crore).
However, the subsequent slide in GMP—from 27% to 12%—suggests some of the early exuberance has been tempered. The reasons: the price-to-earnings ratio of 230X flagged by analysts, wider scrutiny of business risks, and a reading of the fine print—the company has clocked a profit on the basis of other operating income and not in absolute terms.
The current Lenskart IPO GMP ( ₹70) still points to a decent listing premium of 17% but is markedly lower than the peaks seen in earlier weeks. For retail investors, this indicates that while listing remains promising, the “easy gains” may be hard to come by.
Much ado about Lenskart IPO GMP?
The GMP trajectory for Lenskart reflects a classic IPO lifecycle: initial surge based on growth narrative and rarity of consumer technology IPOs in India, followed by valuation-related pullback as the issue date nears.
While early indication of ~27% potential gain remains attractive, the more recent ~12-20% reflects a more cautious market stance. For investors, that means execution post-listing—growth momentum, margin expansion, and market proof—will be crucial in realising longer-term value beyond listing pop.
Summary :
Lenskart’s IPO grey market premium (GMP) reveals investor sentiment ahead of listing, with trends from RHP to IPO day indicating strong demand expectations.