Lenskart Options’ Rs 7,278 crore preliminary public providing (IPO) opened for subscription on Friday, drawing sturdy investor response and attaining full subscription on the primary day.

The problem, which can shut on November 4, is priced within the vary of Rs 382 to Rs 402 per fairness share. The firm’s shares are more likely to listing on the BSE and NSE on November 10, in keeping with the tentative timeline.

The IPO contains a recent challenge of shares value Rs 2,150 crore and a proposal on the market (OFS) of Rs 5,128 crore by current shareholders, together with SoftBank, Kedaara Capital, and Temasek. The proceeds from the recent challenge might be used for enterprise growth, together with retail community progress and expertise investments.

By the tip of Day 1, the IPO was subscribed 1.13 instances, receiving bids for 11.25 crore shares towards 9.97 crore shares on provide. The Certified Institutional Consumers (QIBs) section led demand, with 1.42 instances subscription.

Retail traders additionally confirmed sturdy curiosity, subscribing 1.32 instances, whereas the worker portion noticed 1.10 instances subscription. Non-institutional traders (NIIs) subscribed 0.41 instances, with smaller NIIs making use of for 0.63 instances the shares out there of their class. 

Regardless of sturdy investor curiosity, the providing has sparked valuation considerations, as analysts estimate the corporate’s price-to-earnings (P/E) ratio at round 230 instances.

In an interview with CNBC-TV18, Lenskart CEO Peyush Bansal defended the valuation, pointing to the agency’s 90% CAGR in EBITDA and the long-term progress potential of India’s eyewear market.

In whole, Lenskart acquired 4.70 lakh purposes on the opening day. Based on analysts, Lenskart’s sturdy monetary efficiency and working effectivity have supported investor confidence. Income grew at a compounded annual charge of 32.5% to Rs 66,525 million in FY 2025, whereas EBITDA expanded 3.7 instances to Rs 9,755 million, lifting margins from 6.96% to 14.66%.

The corporate swung to a internet revenue of Rs 2,973 million in FY 2025 from a lack of Rs 637 million in FY 2023. Return on capital employed (ROCE) improved to 13.8%, and product margins rose to 67.9%. 

On the higher value band, the difficulty is valued at a price-to-earnings ratio of 238x, based mostly on FY 2025 earnings per share of Rs 1.71. The IPO allotment is scheduled to be finalised on November 6, with itemizing anticipated on the BSE and NSE on November 10.

Kotak Mahindra Capital Firm, Morgan Stanley India Firm, Avendus Capital, Citigroup World Markets India, Axis Capital, and Intensive Fiscal Companies are performing because the book-running lead managers for the IPO, whereas MUFG Intime India serves because the registrar.

As of March 2025, Lenskart operated 2,723 shops globally, 2,067 in India and 656 abroad, comprising 1,757 owned and 310 franchised shops throughout the home market. In FY25, the corporate launched 105 new collections, together with collaborations with well-known manufacturers and personalities.