Lenskart's Market Debut Amidst Volatile Grey Market Signals
Indian eyewear giant Lenskart Solutions made its highly anticipated stock market debut on Tuesday, November 10, 2025, listing shares on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This landmark event comes after the company's ₹7,278.76-crore Initial Public Offering witnessed massive investor interest during its subscription period.
Steep Decline in Grey Market Premium Raises Eyebrows
Ahead of the official listing, Lenskart's grey market premium (GMP) experienced a dramatic collapse that caught market observers by surprise. The unofficial premium, which had soared to an impressive ₹108 on October 27, witnessed a near-vertical fall of approximately 95% to touch ₹6.5 on November 8, according to data from investorgain.
Although the GMP showed some recovery to reach ₹10 just before listing, representing a modest 1.9% increase, the massive erosion from peak levels signaled changing market sentiment. The grey market premium represents the price at which IPO shares trade in unofficial markets before formal exchange listing, often serving as an indicator of initial market demand.
Strong Financials and Overwhelming Response to IPO
Despite the GMP volatility, Lenskart's fundamental story remains compelling. The company achieved a significant milestone in the fiscal year 2024-25, reporting ₹6,653 crore in revenue and turning profitable for the first time with a net income of ₹297 crore.
The public offering itself received overwhelming response from investors, with the IPO being subscribed 28 times during the bidding window that ran from October 31 to November 4. The price band for the offering was set between ₹382 to ₹402 per share.
The fundraising structure comprised a fresh issue of ₹2,150 crore aimed at fueling future growth initiatives, combined with an offer for sale of 12.75 crore shares by existing stakeholders. As one of India's leading eyewear retailers operating both online and physical stores, Lenskart's market debut represents a significant moment for the Indian retail sector and the broader startup ecosystem.
