Overview
- Lenskart listed below its ₹402 offer price at ₹395 on the NSE and ₹390 on the BSE before falling to an intraday low near ₹355.7 and later closing slightly higher at about ₹404.6.
- The eyewear retailer’s ₹7,278 crore IPO—one of the year’s largest—combined a ₹2,150 crore fresh issue with a large offer‑for‑sale and drew roughly 28x overall subscription led by strong QIB demand.
- Pre‑listing sentiment cooled sharply as the grey‑market premium, which had peaked near ₹108, collapsed to near zero ahead of the listing.
- Brokerages flagged stretched valuation metrics, with P/E ratios cited above 200x and Ambit Capital initiating with a sell rating and a ₹337 target, keeping focus on execution and profitability.
- The company reported FY25 revenue of about ₹66.53 billion and a ₹297.3 crore profit that included one‑off gains, and it plans to deploy proceeds toward store expansion, technology and brand investments.