New Delhi: Ahead of its market debut on November 10, Lenskart’s grey market premium (GMP) has plunged nearly 70 per cent, sparking doubts about strong listing gains.
The Rs 7,278 crore IPO, one of 2025’s biggest consumer offerings, drew bids worth over Rs 1 lakh crore, with 28.3 times oversubscription.
Institutional investors led the demand, subscribing 45 times, while non-institutional and retail segments saw 18 times and 7.5 times subscriptions, respectively.
Despite the robust response, the GMP has dropped from Rs 108 to around Rs 30, implying a modest 8 per cent premium over the Rs 402
issue price.
The sharp fall in the grey market premium reflects growing caution among unofficial market participants ahead of the listing.
Analysts said the decline in sentiment is largely driven by worries over Lenskart’s steep valuations and the overall weakness in secondary market
conditions.