Lenskart IPO Soars with Over 28 Times Subscription

The eyewear retailer Lenskart Solutions Ltd witnessed an overwhelming response to its initial public offering, receiving subscriptions 28.26 times the shares on offer. The Rs 7,278-crore IPO attracted bids for over 281 crore shares, according to the National Stock Exchange data.

Breaking down the demand, Qualified Institutional Buyers (QIBs) subscribed 40.35 times, while non-institutional investors and retail individual investors saw 18.23 and 7.54 times subscriptions, respectively. With a price band set between Rs 382-402 per share, Lenskart aims for a valuation surpassing Rs 69,700 crore at the top end.

The raised capital will drive strategic initiatives, including new company-operated stores, technology, marketing, and potential acquisitions. Lenskart, founded in 2008, operates extensively in India and abroad, preparing for its stock market debut on November 10.