The initial public offering (IPO) of Lenskart Solutions opened for public subscription on October 31 and will close on November 4. The eyewear retailer has set its price band at ₹382–₹402 per share, targeting a valuation of over ₹69,700 crore at the upper end of the range. As per market observers, the Lenskart IPO grey market premium (GMP) stood at ₹70 on opening day.
The IPO comprises a fresh issue worth ₹2,150 crore and an offer for sale (OFS) of 12.75 crore equity shares by promoters and existing investors. Promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with investors such as SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund-II, Macritchie Investments Pte Ltd, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP, will divest part of their holdings in the OFS.
The company plans to utilize the IPO proceeds for capital expenditure on new company-operated, company-owned (CoCo) stores, and to cover lease, rent, and licensing costs for these outlets.
Founded in 2008, Lenskart launched its online platform in 2010 and established its first physical store in New Delhi in 2013. The company now operates extensively across tier-1 and tier-2 cities in India and has a growing international footprint in Southeast Asia and the Middle East.
Day 1 Subscription Status
As of 5:00 PM on October 31, the Lenskart IPO was subscribed 1.13 times.
- Retail investors: 1.31x
- Non-Institutional Investors (NIIs): 0.41x
- Qualified Institutional Buyers (QIBs): 1.42x
- Employee quota: 1.10x
The IPO received bids for 11,23,58,344 shares against the 9,97,61,257 shares on offer, according to BSE data.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors are advised to consult financial experts before making investment decisions.
