Lenskart Hits IPO Jackpot: Eyewear Giant's Public Offer Oversubscribed

Lenskart Solutions Ltd's initial public offering garnered remarkable attention, receiving a subscription rate of 7.40 times on its final share sale day, Tuesday. The Rs 7,278-crore IPO attracted bids for 73,79,49,978 shares against 9,97,61,257 available, as reported by the NSE until 13:42 hours.

Among the different investor groups, non-institutional investors led the charts with 10.21 times subscription, while qualified institutional buyers subscribed at 6.60 times. Retail individual investors, on their part, secured a 5.65 times subscription. With a fixed price band of Rs 382-402 per share, Lenskart aims for a valuation soaring over Rs 69,700 crore at the peak.

The IPO comprises a fresh issue of shares worth Rs 2,150 crore and a sizeable Offer-for-Sale of 12.75 crore shares by promoters and existing investors. Proceeds will fuel strategic growth, including the development of new stores and technological investments. Lenskart is set to debut on the stock exchanges on November 10, with leading financial entities managing the IPO.