Lenskart IPO fully subscribed on Day 1: Check price band, lot size and key dates

Lenskart IPO: Technology-focused eyewear company Lenskart's initial public offering has been fully subscribed on Friday, October 31, the first day of bidding. The issue, which will conclude on November 4, has set a price band of ₹382 to ₹402 per share.

The ₹7,278.02 crore initial share sale comprises a fresh issue valued at ₹2,150 crore and an offer for sale (OFS) of 12.75 crore shares aggregating to ₹5,128.02 crore.

Under the OFS, promoters Peyush Bansal, Neha Bansal, Sumeet Kapahi and Amit Chaudhary are divesting their stakes. Investors SVF II Lightbulb (Cayman) Ltd, PI Opportunities Fund-II, Macritchie Investments Pte Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP would also offload shares.

The company intends to utilise fresh issue proceeds for capital expenditure for establishing new CoCo (company-operated, company-owned) stores in India and payments related to rent, lease, and licence agreements of these CoCo stores. The funds will also be used for investments in technology and cloud infrastructure, brand marketing initiatives, unidentified inorganic acquisitions, and general corporate purposes.

Lenskart IPO Day 1: Subscription status

The IPO received bids for 10,86,65,559 shares against 9,97,61,257 shares on offer, translating into 1.09 times subscription, according to NSE data until 4:04 pm.

Before the IPO, the company allotted shares worth ₹3,268 crore in the anchor round to investors, including the Government of Singapore, the Monetary Authority of Singapore, BlackRock, Fidelity, Nomura, T Rowe Price, Goldman Sachs, SBI Mutual Fund (MF), HDFC MF, Kotak MF, ICICI Prudential MF and Aditya Birla Sun Life MF.

Lenskart IPO: Lot size

Investors can apply for a minimum of one lot, consisting of 37 shares, and in multiples thereof. The company has kept 75% of the shares reserved for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.

Lenskart IPO timeline: Allotment and listing date

Lenskart provides a wide range of prescription eyeglasses, stylish sunglasses, and contact lenses through its retail network and online platform.

Lenskart IPO GMP

According to media reports and investorgain.com, the unlisted shares of Lenskart Solutions are trading at ₹472, reflecting a grey market premium of 17.41%, or ₹70, over the upper price band of ₹402.