Lenskart Shares List At Discount, Recover Slightly After Volatile Market Debut

Eyewear retailer Lenskart made its much-awaited stock market debut on Monday, listing at a discount to its issue price despite the strong investor response during its IPO.

The company’s shares were listed at ₹395 per share, about 3% below the issue price of ₹403, and slipped as much as 11% in early trade. However, the stock later recovered part of its losses and was last seen trading about 2.5% lower than its issue price.

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The muted listing came even as Lenskart’s ₹7,278 crore public issue had been subscribed 28 times, led by strong institutional demand — with the qualified institutional buyers (QIB) category subscribed 40 times, non-institutional investors 18 times, and retail investors 7.5 times.

Ahead of the listing, co-founder Peyush Bansal addressed employees and investors, saying, “An IPO is not just about markets, but about trust. Today is about beginning again.” He added that while the company had come a long way, its “journey to a vision for a billion has only just begun.”

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Market watchers noted that the grey market premium (GMP) for Lenskart had turned nearly flat before listing, hinting at a cautious start. At ₹395, the stock commands an estimated market capitalisation of around ₹67,000 crore.

Despite the soft debut, analysts believe the company’s strong brand presence, omni-channel business model, and long-term growth potential could help stabilise investor sentiment in the coming sessions.