India, Oct. 31 -- The Lenskart IPO is now open for subscription, amid an online debate over its valuations that's reflecting in its grey market premium today.

On offer in the Lenskart IPO are 18.10 crore shares-5.35 crore new and 12.75 crore via offer for sale-in a price range of Rs.382-402 apiece to raise as much as Rs.7,278 crore, according to the company's red-herring prospectus. That pegs the company's valuation at nearly Rs.70,000 crore. The lot size is set at 37 shares or multiples thereof, which translates to a minimum investment of Rs.14,874 for retail investors.

While the filing of its red-herring prospectus set the stage for listing, the grey market has been signalling shifts in sentiment, as seen in the evolving GMP.

But bef...