Lenskart IPO Day 3 Update: ₹7,278 Crore Issue Sees Strong Investor Demand

We from the investor‑watching crowd are taking a close look at Lenskart’s big public offering. The company has launched a ₹7,278 crore IPO. On Day 3, the final day of bidding, market interest remains strong. But we also need to check how real that demand is. In this article, we’ll cover what the IPO is about, how investors are responding, what risks lie ahead, and what this might mean for the future.

About Lenskart

Lenskart Solutions emerged in 2008 and is now one of India’s largest eyewear brands. The company started online but rapidly grew into physical stores. By 202,5 will operate thousands of stores in India and overseas. Its products include prescription glasses, sunglasses, and contact lenses. Their position: an omni‑channel player (both online + offline). That gives them reach in metro cities and smaller towns too. They combine tech (like virtual try‑on) with retail presence. Analysts say this gives Lenskart a promising base.

The move to launch the IPO reflects a growth step: expanding stores, investing in tech, increasing manufacturing, and supply‑chain strength. All of this sets the backdrop for what is now being offered to investors.

IPO Details

Here are the key facts of the offering:

• The total issue size: ₹7,278 crore.
• Price band: ₹382 to ₹402 per share.
• The public offer includes two parts: a fresh issue of about ₹2,150 crore, and an offer‑for‑sale (OFS) by existing shareholders worth about ₹5,128 crore.
• At the upper band, the valuation works out to roughly ₹69,700+ crore (≈ US$8 bn) for the firm.
• Key lead managers include big names like Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Private Ltd, and Avendus Capital Private Ltd.
• Lot size for retail investors: 37 shares. Minimum investment at upper price band: ~₹14,874.

That sets the scene. We now know where the company is asking, what the stakes are, and what investors are looking at.

Day 3 Subscription Update

As the IPO enters its third and final day, the numbers tell an interesting story.

• By the end of Day 2, the issue was subscribed 2.02 times, meaning investors had bid for about 20.11 crore shares against 9.97 crore on offer.
• Retail investors (RIIs) were especially keen: their portion was 3.33 times subscribed. Non‑Institutional Investors (NIIs) ~1.89‑2.37 times. Qualified Institutional Buyers (QIBs) ~1.64 times.
• The grey market premium (GMP), a rough indicator of listing gain expectation, had been quoting at ~₹59 (on a ₹402 issue price), suggesting ~14‑15 % expected listing pop.
• Interesting: While the subscription (# of bids) is strong, analysts highlight that the valuation is already high. That may cap how much further listing gains can go.

So, on Day 3, the trend is of solid demand. But the quality and sustainability of that demand are being questioned: are investors buying for listing gains or long‑term hold? We’ll look at sentiment next.

Market and Investor Sentiment

When we scan how the market sees Lenskart’s IPO, some clear themes emerge.

• On the positive side, the eyewear market in India is under‑penetrated. As more people adopt vision correction or sunglass use, there is growth room. Lenskart’s omnichannel model + brand recognition give it an edge.
• Retail investors seem enthusiastic: The high retail subscription shows appetite for “growth story” listings. They are willing to buy in.
• Institutional investors are more cautious: They note that while growth is strong, profitability and margins may face pressure, and valuations are stretched.
• Comparisons: The IPO market in India has seen many large floats recently. Some have delivered, some haven’t. The environment is favorable but more selective.

Therefore, while sentiment is overall positive, there’s a bit of caution in the air. Investors must balance enthusiasm with realism about future performance.

Potential Risks and Challenges

We don’t ignore the flip side; every IPO has risks, and Lenskart is no different. We highlight key ones:

• High valuation: At the upper price band, the implied PE is very steep compared to peers, raising questions about room for listing gains.
• Over‑expansion risk: Opening many new stores, especially in smaller towns, carries cost, execution, and management risk.
• Profitability pressure: While growth is strong, sustaining margins amid competition, raw‑material costs, and supply disruptions is a challenge.
• Dependence on imports/manufacturing: Some frames and components are imported; supply‑chain issues or currency swings can impact costs.
• Market risk: Listing day or short term may be volatile; longer term will depend on execution, not just hype.

By weighing these risks, we stay balanced and don’t get carried away by the excitement.

Future Outlook

So what does the future hold for Lenskart and its IPO? We look at key possibilities.

• The funds raised will help Lenskart expand its store network, invest in technology (e.g., AI, virtual try‑on), and strengthen its supply chain.
• In a country where eyewear penetration is still low and the organized sector is growing, Lenskart may benefit from rising demand.
• For investors who apply now and stay long term, Lenskart could be a ride along the growth wave, provided the company executes well.
• On listing day (scheduled November 10, 2025), the market will decide whether the valuation is justified by future earnings potential. That will set the tone for post-listening performance.

In short, the IPO may not just be about listing day gains; its success will lie in whether Lenskart delivers on strategy over the next 3‑5 years.

Conclusion

We’ve seen that Lenskart’s ₹7,278 crore IPO is drawing strong interest as it enters Day 3 of bidding. The company’s background is solid, the growth story compelling, and retail investors are clearly on board. But we also remain mindful of the high valuation, execution risks, and intense competition. For those of us watching the listing, the key will be: does Lenskart turn this promising start into sustained performance? The next few years will answer that.

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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.