Day 3 of the Lenskart IPO: Issue booked 3.18 times so far. Verify the GMP, important dates, review, and subscription. Do you need to apply?

Day 3 of Lenskart IPO: With shares priced at ₹382-402, the October 31–November 4 Lenskart Solutions IPO has received a 2.02-fold subscription by Day 2. In order to achieve a strong market presence, the proceeds will be used to finance tech investments and retail development.

On Monday, November 3, the second day of the share sale, Lenskart Solutions Ltd.'s IPO continued to get respectable subscriptions. On Day 2, the subscription status for Lenskart's IPO was 2.02.

Subscriptions for the Lenskart IPO are available from October 31 to November 4. The pricing range for the Lenskart IPO is between ₹382 and ₹402 per share, with the ultimate goal of a valuation of more than ₹69,700 crore. Today's Lenskart IPO GMP is ₹59.

Seventy-five percent of the shares in the public offering of Lenskart have been assigned to qualified institutional buyers (QIBs). Furthermore, 10% of the shares are set aside for individual investors, and up to 15% are allocated for non-institutional investors (NIIs). Furthermore, qualified employees would be able to receive a discount of ₹19 per equity share.

The Lenskart IPO basis for share allocation is tentatively scheduled to be finalized on Thursday, November 6. The company will begin refunds on Friday, November 7, and the shares will be credited to the allottees' demat accounts the same day after the refund. On Monday, November 10, the share price of Lenskart is anticipated to be published on the BSE and NSE.

Today's Lenskart IPO GMP

Today's Lenskart IPO GMP is ₹59. The expected listing price of Lenskart shares was ₹461 per share, which is 14.68% higher than the IPO price of ₹402, taking into account the upper end of the IPO pricing band and the current premium in the grey market.

The current GMP, which is around ₹59 after nine sessions of grey market activity, points to a possible downward trajectory. It's noteworthy that the greatest GMP reported during this time was ₹108, while the lowest was ₹48.00.

Investors' willingness to pay more than the issue price is shown by the "grey market premium."

Status of Lenskart IPO subscriptions

On the third day, the subscription status for Lenskart's IPO was 2.80 times. The Qualified Institutional Buyers (QIBs) component received 1.64 times bids, the retail portion was subscribed 4.09 times, and the NII portion was booked 4.23 times. 3.10 subscriptions were made by employees.

According to BSE data, at 10:57 IST, the company received bids for 27,88,80,026 shares out of the 9,97,61,257 shares on offer.

On the first day of the IPO, the subscription status for Lenskart was 1.13, and on the second day of bidding, the issue was booked 2.02 times.

Review of Lenskart's IPO

SMIFS claims that the business has created remarkable technologically based competitive advantages that are greatly improving its position in the market. Key breakthroughs include an augmented reality (AR) virtual try-on feature that has received over 100 million app downloads, a sophisticated machine learning approach to site selection, and AI-powered remote optometry, where 164 optometrists have performed an amazing 13.45 million eye tests. With an astounding 80.80% of FY23-FY24 stores reaching this milestone, these innovations have successfully lowered store payback to just 10.29 months, as opposed to the industry norm of 18–24 months.

Additionally, the business intends to open 620 additional CoCo outlets with the ₹21,500 million it raised from its IPO. The goal is to achieve 1,200 stores overall by FY26-FY28 with extra funding from internal accruals. The company will be positioned for long-term growth and success by expanding its reach and presence in Tier-2 and Tier-3 markets through this strategic move.

The brokerage advised long-term investors to subscribe to the issue because of Lenskart's profitability recovery, 65% penetration headroom in India's 777 million impacted population, technology-driven 10-month store payback, and sustainable competitive advantages that offer compelling value creation in the country's fastest-growing eyewear retail sector.

According to SBICAP Securities, the company is well-positioned to capitalize on the rapidly expanding domestic organized but underutilized eyewear market because of its robust business model. Additionally, there is a chance to increase profitability in the medium to long term as the company grows. The market will continue to keep a close eye on Lenskart's path to profitability as the listed foreign competitors exhibit a strong margin profile.

According to the company's historical performance, its stated EBITDA margin has continuously increased from 7.0% in FY23 to 14.7% in FY25. Investors will be closely monitoring any further improvements. The brokerage advised investors to SUBSCRIBE to the IPO for the long run at the cut-off price.

Furthermore, Marwadi Financial Services stated that, as the company that sold the most prescription eyeglasses in India in FY25, it advises subscribing to the problem. We remain wary from a long-term view, though, because the IPO is expensive and the company will need to maintain rapid business development to support its value.