Lenskart Shares Open Lower on Market Debut Despite Strong IPO Buzz
The much-awaited IPO of the eyewear giant hits the market with a mild dip, reflecting caution by investors about steep valuations, though long-term prospects are promising.
Lenskart’s Market Entry Sees a Subdued Start
Lenskart Solutions, the eyewear retailer, made its stock market debut on November 10, 2025, but the frenzy around its initial public offering did not quite spill over into the actual opening. The company’s shares settled at ₹390 on the BSE and ₹395 on the NSE, marginally below its issue price of ₹402 per share — nearly 3% below expectations.
The ₹7,278 crore initial share sale of Lenskart had attracted huge investor interest ahead of listing with overall subscription of nearly 28 times. The demand was strong from institutional investors, while retail participation remained steady.
Market analysts, however, mentioned that despite the impressive growth story of the company, the valuation seemed expensive. With a price-to-earnings ratio hovering around 238× for FY25, many investors preferred to wait for a more attractive entry point.
While financially, Lenskart has exhibited strong recovery—posting a profit of ₹297 crore in FY25 after losses in FY23—and most of its new stores reportedly break even within 10 months, there remain concerns regarding high operating costs, dependence on imported materials (especially from China), and ongoing regulatory challenges.
Analysts say that while Lenskart has a great long-term prospect thanks to the largely untapped organised eyewear sector in India, short-term gains from its listing are likely to be limited as they rate the stock primarily for long-term investors.
In essence, the Listing of Lenskart epitomizes a familiar trend in the IPO market of India: a promising business with solid fundamentals, but one whose valuation story requires patience.
