Eyewear retailer Lenskart opened its ₹7,278-crore initial public offering (IPO) for public subscription on October 31. By 2:12 p.m., the issue was 67% subscribed, receiving bids for 6.69 crore shares against the total offer of 9.98 crore shares, as per NSE data. The retail portion was fully booked, while Non-Institutional Investors (NIIs) subscribed 26% and Qualified Institutional Buyers (QIBs) 76% of their respective quotas.
The IPO aims to raise ₹7,278 crore, including a fresh issue of ₹2,150 crore and an offer for sale of 12.75 crore shares. It will remain open till November 2, with a price band of ₹382–402 per share, valuing the firm at about ₹70,000 crore. Investors can bid for a minimum of 37 shares (₹14,874). Allotment results are expected on November 5, and listing on November 10.
In the grey market, Lenskart shares were trading at a 16–17% premium, showing robust investor interest. Analysts, however, caution about the company’s high valuation—around 230 times earnings—despite strong growth prospects. While experts appreciate its omni-channel model and global reach, they stress the importance of profitability and cost control for long-term sustainability.
