Lenskart IPO Frenzy: 7x Oversubscribed Amid Grey Market Jitters – Is Groww’s IPO the Safer Bet?
Lenskart’s ₹7,278 crore IPO was subscribed about 7 times, led by non-institutional bids at 10.2×. Shares list November 10, with grey market premiums cooling to ~14% above the ₹402 issue price. The IPO values Lenskart near ₹70,000 crore, or ~235× FY25 earnings, sparking debate over rich pricing. Brokerages mostly recommend subscribing, but some experts warn of stretched valuations and possible correction.