Lenskart Recovers From Tepid Open To Close First Day Slightly Above Ipo Price

Lenskart shares recovered aft a soft commencement to decorativeness somewhat supra nan connection value connected Monday, pursuing nan Indian eyewear retailer’s ₹72.8 cardinal ($821 million) IPO that sold retired wrong hours but stirred statement complete its valuation.

The banal opened astatine ₹395, beneath nan IPO value of ₹402, and fell arsenic overmuch arsenic 11% to ₹356.10 during nan convention earlier recovering to adjacent astatine ₹404.55. The closing value weighted Lenskart astatine astir ₹702 cardinal (around $8 billion). The IPO was heavy oversubscribed pinch bids coming successful astatine astir 28 times nan shares available, led chiefly by organization investors.

Lenskart’s transportation to investors is that its vertically integrated exemplary — wherever it controls everything from manufacturing to unit stores — tin outpace bequest optical chains and online rivals. But nan 15-year-old institution faces title crossed value points from Titan Eye+ to caller direct-to-consumer players, raising questions astir really quickly it tin standard profitably successful India and overseas.

The institution reported a profit successful nan fiscal twelvemonth 2025 (which ended successful March), pinch gross rising 23% year-over-year to ₹66.53 cardinal (about $750 million). Net profit came successful astatine ₹2.97 cardinal (around $33 million), boosted by a ₹1.67 cardinal (about $19 million) accounting summation (not existent cash) linked to its acquisition of Owndays. Excluding that one-time item, nan company’s halfway profit stood astatine ₹1.30 billion, aliases astir $15 million.

The institution had sought a valuation of ₹700 cardinal — astir $7.9 cardinal — astatine nan apical extremity of nan IPO value range, placing it among nan astir richly weighted of India’s new-age user brands, alongside firms specified arsenic Honasa and BlueStone. The valuation represents a much than 60% jump from nan astir $5 billion level astatine which Lenskart shares traded hands successful a secondary stock waste past June involving late-stage backers Fidelity and Temasek. Fidelity later marked up Lenskart’s valuation by 12% to $5.6 billion successful November past year.

The projected valuation implied astir 230 times Lenskart’s halfway nett profit and astir 10 times its revenue, fueling statement among unit investors and connected societal media. DSP Asset Managers, which invested successful nan institution up of nan listing, defended nan woody nan valuation, contempt acknowledging it was “expensive,” saying successful a station responding to nan disapproval that nan business remains “strong and scalable.”

Chief Executive Peyush Bansal, who has gained wider nationalist nickname arsenic a judge connected Shark Tank India, said nan rumor was “fairly priced,” citing feedback from organization investors.

“We didn’t build Lenskart to scope a valuation,” he said astatine nan IPO ceremonial successful Mumbai. “We did it to scope people, from Delhi to nan smallest towns of India.”

Lenskart plans to usage nan proceeds to support description , including opening caller stores and strengthening its proviso concatenation and unit infrastructure. The institution besides intends to put successful exertion and marketing, and said a information of nan costs whitethorn beryllium group speech for acquisitions and different wide firm purposes.

Existing investors including SoftBank, Schroders Capital, Premji Invest, Kedaara Capital and Alpha Wave Ventures sold shares successful nan IPO. Co-founders Peyush and Nehal Bansal, Amit Chaudhary and Sumeet Kapahi besides sold a information of their holdings.

Lenskart’s listing comes astatine a clip erstwhile respective Indian startups are moving toward nationalist markets arsenic late-stage task backing tightens and home investor appetite increases. Fintech firms Groww and Pine Labs, edtech level PhysicsWallah, SaaS supplier Capillary Technologies, and user marque BoAt are among nan startups preparing for their IPOs successful India.