Lenskart IPO Soars: A Visionary Leap into the Stock Market
Lenskart Solutions Ltd's IPO has been oversubscribed 2.01 times on the second day of its offer. The IPO features a mix of fresh issues and offers for sale by promoters and investors. Proceeds will fund new store expansions, technology investments, and brand marketing. Trading begins November 10.
- Country:
- India
Lenskart's initial public offering saw substantial interest, oversubscribed 2.01 times as of Monday. Retail investors snapped up shares at a 3.33 times subscription rate, and the offering overall received bids for over 20 million shares against the approximately 10 million available.
The IPO, set to close Tuesday, stands at Rs 7,278 crore with a share price band of Rs 382 to Rs 402. Lenskart targets a valuation of Rs 69,700 crore. The offering includes both a fresh issue of Rs 2,150 crore and an Offer-for-Sale from promoters and investors.
Funds from the IPO will drive Lenskart's growth through new stores, technology upgrades, and brand marketing. As one of India's largest omni-channel eyewear retailers, Lenskart will list on stock exchanges on November 10, supported by major financial institutions as lead managers.
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