Lenskart IPO GMP: The IPO of eyewear brand Lenskart opened for subscription today. Investors can bid for the IPO until November 4. The price band is set between ₹382 and ₹402.

Lenskart IPO GMP: The primary market is bustling with activity today, as not just one, but three major companies' IPOs are open for subscription. These include the Lenskart IPO, Orkla India IPO, and Studds Accessories IPO. The Orkla India IPO closes today. Investors will be able to bid for the Lenskart IPO until November 4th. The company has set a price band of ₹382 to ₹402 for the issue.

How is the response to the IPO?

According to NSE data, eyewear brand Lenskart's ₹7,278 crore issue received 9% subscription on the first day as of 11 am. This means that investors have bid for 88.55 lakh shares out of the 9.98 crore shares offered. Retail investors have purchased 37% of their share. Meanwhile, non-institutional buyers (NIIs) have purchased 8%, and qualified institutional buyers (QIBs) have not yet placed any significant bids.

What is the GMP?

Investors are showing tremendous enthusiasm for Lenskart's IPO in the gray market. According to InvestorGain, before listing, Lenskart's unlisted shares were trading at a GMP of 18.41% above the IPO price, which is currently ₹74. This implies a profit of ₹74 per share upon listing. This is higher than the 17.41% gain a day earlier and the 11.94% gain a day before that. IPO Watch reported a GMP of approximately 11.45.