Eyewear retailer Lenskart made a subdued debut on the Indian stock exchanges today, with its shares listing below the issue price despite robust investor demand during the IPO. The stock opened at ₹395 on the NSE, a 1.7% discount to its issue price of ₹402 per share, and at ₹390 on the BSE, marking a 3% decline on debut.
The company’s ₹7,278 crore initial public offering, which was subscribed nearly 28 times, had attracted strong participation from both institutional and retail investors. However, the market response on listing day did not mirror that enthusiasm.
Early Volatility and Partial Recovery
In early trading, Lenskart’s shares slipped over 10% below the issue price before recovering partially later in the session. Analysts attributed the weak start to profit booking and stretched valuations, even as the company continues to show consistent growth and profitability.
The IPO, open between October 31 and November 4, was priced in the range of ₹382–₹402 per share, with a minimum investment size of ₹14,874. Anchor investors contributed ₹3,268 crore to the issue prior to its opening.
Strong Subscription Metrics and Financial Performance
Lenskart’s IPO saw QIBs subscribe 40.35 times, NIIs 18.2 times, and retail investors 7.53 times, while the employee portion was subscribed 4.96 times.
On the financial front, Lenskart’s revenue grew 22.6% year-on-year to ₹6,653 crore in FY25 from ₹5,428 crore in FY24. The company turned profitable, reporting a net profit of ₹297 crore in FY25 compared to a ₹10 crore loss the previous year.
In Q1 FY26, the SoftBank-backed firm posted a profit of ₹61 crore, reversing a ₹10.9 crore loss from the year-ago quarter, while operating revenue rose 25% to ₹1,894.4 crore.
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