The eyewear retailer Lenskart made its stock market debut on 10 November 2025, listing its shares at around ₹390 on the BSE, which is about 2.98% below the issue price of ₹402 per share. On the NSE, the opening price was reported at around ₹395—also below the issue price.
Key Facts
- The IPO price band was set at ₹382 – ₹402 per share.
- The issue size was around ₹7,278 crore, a combination of fresh issue and offer for sale.
- Despite a strong subscription (reported at ~28.26× overall) during the issue period, the listing turned out muted.
- Grey Market Premium (GMP) before listing had shown signs of cooling from high expectations, signalling limited upside at listing.
Why It Matters
- Investor Sentiment: A company listing at a discount despite strong pre-IPO demand may dampen retail investor enthusiasm and affect upcoming IPOs in the “new-age”/digital/retail segment. For example, other IPOs are already seeing dropping GMPs.
- Valuation Concerns: Analysts had flagged that the valuation at issue price was high relative to comparable businesses. For example, one brokerage issued a “Sell” rating ahead of the listing. The Economic Times
- Benchmark for Future Listings: The performance of Lenskart’s listing will act as a reference point for institutional and retail participation in forthcoming IPOs, especially in e-commerce/omnichannel segments.
What to Watch Going Forward
- Short-Term Price Movement: Whether the stock recovers after the initial listing drop, and whether bargain hunters or long-term investors step in.
- Business Execution: Whether Lenskart can deliver on growth, profitability, store expansion, and maintain strong margins to justify its valuation.
- Impact on IPO Pipeline: How the muted listing affects other companies planning to go public—both in terms of pricing strategy and investor appetite.
- Market Conditions: Broader sentiment (macro factors, global cues, sectoral trends) will influence the stock’s trajectory beyond listing day.
Bottom Line
The Lenskart IPO listing at a ~3% discount is a reminder that listing gains are not guaranteed, even for well-subscribed issues. For investors, it underscores the importance of evaluating fundamentals and valuation rather than relying solely on pre-listing hype or grey market premiums.
