Lenskart IPO Day 2: Indian eyewear brand Lenskart is enjoying the limelight as its initial public offering (IPO) continues to attract investor enthusiasm. By the end of the first day of bidding on Friday, the Lenksart IPO was subscribed 1.13 times, driven by strong interest from institutional and retail investors alike. The issue remains open for subscription from October 31 to November 4.
With a price band set between Rs 382 and Rs 402 per share, the IPO pegs Lenskart’s valuation at over Rs 69,700 crore at the upper end.
Lenskart IPO GMP Today
The company’s grey market premium (GMP) stood at Rs 72-74 today, indicating a premium of 18 per cent, according to IPOJi. ‘Grey market premium’ or GMP represents the price investors are willing to pay over the official issue price, offering an early glimpse of market sentiment before listing day.
The GMP represents the investors’ confidence in a listing and is indicative of its performance upon debut. Higher the GMP, the better the chances are for a company having a robust debut on the exchanges.
Over the last seven trading sessions, the GMP has fluctuated between Rs 48 and Rs 108, pointing towards strong demand, reported Moneycontrol. Market watchers suggest that the IPO could enjoy a robust debut if market conditions remain stable.
Lenskart IPO Details
The IPO comprises a fresh issue of shares worth Rs 2,150 crore and an offer for sale (OFS) of 12.75 crore equity shares by promoters and key investors. Those reducing their stakes include founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, alongside institutional 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.
Lenskart plans to channel the proceeds into expanding its network of company-owned, company-operated (CoCo) stores across India. A portion of the funds will also go towards lease payments, licensing, and upgrading technology infrastructure. Additional objectives include brand marketing, promotional campaigns, potential acquisitions, and overall corporate purposes.
Founded in 2008, Lenskart began as an online eyewear retailer and opened its first physical store in New Delhi in 2013. Over the years, it has built a strong omnichannel presence, with stores in major Indian cities as well as international operations in Southeast Asia and the Middle East. The company’s technology-driven retail model, swift payback period, and focus on affordability have made it a case study in modern retail success.
Subscription Details
Data from the Bombay Stock Exchange (BSE) shows Lenskart received bids for 11,23,58,344 shares against 9,97,61,257 on offer by 5 PM IST on Friday. The retail investor portion was subscribed 1.31 times, the Non-Institutional Investor (NII) category was booked 41 per cent, and Qualified Institutional Buyers (QIBs) oversubscribed by 1.42 times. Even the employee quota saw strong participation at 1.10 times.
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