Lenskart IPO Day 2 Update: Subscriptions Build Momentum, GMP Climbs 21%

The Lenskart IPO has become a big talking point in India’s markets. On Day 2, we see subscriptions picking up strongly and grey-market premiums rising sharply. This shows many investors believe this listing may see good momentum. We want to walk through what’s happening, why Lenskart is attracting attention, and what to watch as the process plays out.

Company Background: Lenskart’s Journey

Lenskart started in 2010 as an online eyewear company. Over time, it added physical stores, making it a hybrid model of online and offline retail. The company manufactures many of its own frames and controls supply-chain elements. It now has thousands of stores in India and abroad.
Its mix of technology (virtual try-ons, AI), store presence, and manufacturing gives it a key edge in the organized eyewear space.

IPO Details

Here are the key IPO numbers and dates for Lenskart:

• Price band: ₹ 382 to ₹ 402 per share.
• Issue size: ~₹ 7,278 crore (fresh issue of ~₹ 2,150 crore + offer-for-sale ~₹ 5,128 crore)
• The bidding period runs from October 31 to November 4, 2025.
• Tentative listing date: 10 November 2025 on both BSE & NSE.
• Lot size: 37 shares per lot.

The fresh funds will be used for expansion, technology, and strengthening manufacturing.

Subscription Status: Day 2 Update

By Day 1, the IPO was already seeing strong uptake: it was subscribed ~1.to 13 times overall by afternoon. Retail investor segment ran ahead of expectations. While full Day 2 numbers aren’t yet widely published, data shows the momentum building. We expect stronger institutional participation as the window proceeds. Retail interest early on suggests confidence in the brand athe nd growth story. But it’s key to watch how QIB (Qualified Institutional Buyers) and NII (Non-Institutional Investors) segments perform in the next days.

Grey Market Premium (GMP) Climbs

Grey market premium (GMP) is the informal indicator of how much extra investors expect shares to list at, beyond IPO the ice. For Lenskart:

• GMP reported around ₹ 70 per share above the upper band of ₹ 402. That suggests a listing price around ~₹ 472, implying ~17-21% premium.
• Another source shows premiums t approximately 18.41% above the issue price.
  Such premiums reflect a stronga belief in listing gains. But we must also caution: GMP is not a guarantee of actual listing performance.

Financial Performance & Growth

Lenskart’s recent numbers:

• For FY25, the company reported revenues of approximately approximately9 crore.
• It moved into profit: PAT around ₹ 297 crore.
• EBITDA margin was about 14%.

The business has posted strong growth, driven by store expansion and the shift to organized. But the valuations being asked, over 230× earnings in some estimates, raise questions about how much future growth must deliver.

In short: grow,h is real, but so are expectations.

Competitive Positioning

In India, eyewear retail remains largely fragmented and under-penetrated. Lenskart competes with local optical stores, offline chains and o,, online pure-plays.
Its advantages include: in-house manufacturing giving cost & margin control, tech tools (virtual try-on), strong brand recall, and omni-channel presence (online + stores). This gives it a better position than many smaller players.
But competition remains fierce, and staying ahead will require continuous innovation, store optimization,, cost discipline.

Key Strengths Driving IPO Momentum

Why is Lenskart attracting this much interest?

• First: A high-growth brand in a large u, underserved market (eyewear in India).
• Second: A business model combining online scale and offline experience.
• Third: Strong manufacturing/supply-chain control,, which  gives margin potential and differentiation.
• Fourth: Global expansion potential and brand credibility (backed by big investors).
  These strengths form the core of the momentum behind the Lenskart IPO.

Risks & Challenges

No strong story is without risk. For Lenskart:

• Valuation is steep: At the upper price band, P/E multiples are estimated above 230×.
• Execution risk: Expanding stores, managing inventory, supply, and chain scaling all pose operational challenges.
• Margin pressure: As the business scales, keeping margins healthy will be vital.
• Competitive risk: Offline players with deep local networks and shifting consumer habits may pose threats.
• Market risk: If growth slows or macro weakens, high expectations may hit a reality check.

Conclusion

The Lenskart IPO is one of the most anticipated offerings in India in 2025. With strong brand strength, solid growth, and high investor interest, it’s positioned for a successful listing. On Day 2, the build-up in subscriptions and rising GMP shows optimism. Yet, we must stay balanced: the valuation is aggressive, and execution will matter. For long-term investors who believe in India’s eyewear market growth and techno-retail models, this could be a meaningful play. For short-term trades relying purely on listing pop, one should tread carefully.
In summary: The Lenskart IPO may well deliver, but it asks for patience, belief in growth  and a,iew beyond immediate listing gains.

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Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.