Lenskart IPO: Grey Market Premium Crashes 90% Ahead of Listing - Here’s What You Need to Know

As Lenskart Solutions gears up for its stock market debut next week, there's a mix of enthusiasm and wariness among investors.  

On Friday, it has plunged nearly 90% from its peak of Rs 108 as compared to a few days ago to around Rs 10, November 7, 2025, suggesting only a small 2.49% gain over the issue price of Rs 402.

The IPO saw strong demand during its subscription period, but the grey market premium (GMP), which works as a signal of how the shares might perform on listing day, has taken a big hit.

This sharp drop in GMP shows that unofficial market traders are getting more careful right before the shares hit the exchanges.

Lenskart Solutions IPO GMP Today

According to the market tracker websites, as of November 7, 2025, at 11:55 AM, the latest GMP for Lenskart Solutions IPO stands at Rs 10. Based on the Rs 402 price band, this points to a possible listing price of Rs 412, which would mean a 2.49% gain or loss per share.

Lenskart Solutions IPO Subscription status

By the end of Day 3 on November 4, 2025, at 5:04:33 PM, the IPO was oversubscribed 28.27 times overall. Retail investors subscribed 7.56 times, qualified institutional buyers (excluding anchors) went for 40.36 times and non-institutional investors hit 18.23 times.

Lenskart Solutions IPO Details

The Lenskart Solutions IPO of the Peyush Bansal-led company, valued at Rs 7,278.76 crore, was open for bids from October 31 to November 4, 2025. It included a fresh issue worth Rs 2,150.74 crore and an offer for sale of Rs 5,128.02 crore.

Lenskart Solutions IPO Listing Date

The shares are set to list on the BSE and NSE around November 10, 2025, as per market tracker websites.

Lenskart Solutions IPO Price Band

Shares were priced at Rs 402 each. Investors had to apply for a minimum lot of 37 shares, which meant a starting investment of Rs 14,874 for retail buyers. For small non-institutional investors (sNII), it was 14 lots or Rs 2,08,236, while big non-institutional investors (bNII) needed 68 lots, coming to Rs 10,11,432.

There was also a special allocation of up to 3,91,644 shares for employees, with a Rs 19 discount off the issue price.

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Lenskart Solutions IPO registrar

The lead managers for the book running are Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited and Intensive Fiscal Services Private Limited, with MUFG Intime India Pvt. Ltd. handling the registrar duties for the issue.

About Lenskart

Founded in 2008, Peyush Bansal-led Lenskart Solutions Ltd. is a tech-driven eyewear firm that designs, makes, brands and sells prescription glasses, sunglasses, contact lenses and related items. Its main focus is India, where, according to the Redseer Report, it sold the most prescription eyeglasses by volume in FY 2025.

The company sells directly to customers and offers a wide variety of products under its own labels and sub-brands, catering to different age groups and budgets. In FY 2025, it rolled out 105 new lines, some in partnership with popular brands and celebrities.