Lenskart IPO subscribed 1.63 times so far on Day 2, retail part booked 2.69x; what we know so far

Lenskart IPO: The initial public offering of eyewear retailer Lenskart Solutions Ltd has been subscribed 1.63 times so far on the second day of bidding on Monday, November 3. The IPO will conclude on November 4.

It secured bids for 16,27,39,949 shares as against 9,97,61,257 shares on offer, according to NSE data until 1 pm.

The bidding was led by retail investors who subscribed their portion 2.69 times. The quota for non-institutional investors got subscribed 1.29 times, while the qualified institutional buyers part was booked 1.45 times.

With a price band of ₹382 to ₹402 per share, a lot consists of 37 shares.

The ₹7,278.02 crore initial share sale has a fresh issuance of shares valued at ₹2,150 crore and an offer for sale of 12.75 crore equity shares aggregating to ₹5,128.02 crore by promoters and investors.

As a part of the OFS, promoters Neha Bansal, Peyush Bansal, Amit Chaudhary and Sumeet Kapahi, and investors Kedaara Capital Fund II LLP, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund-II, SVF II Lightbulb (Cayman) Ltd, Macritchie Investments Pte Ltd, and Alpha Wave Ventures LP would offload shares.

Investments in technology and cloud infrastructure, brand marketing and business promotion to enhance brand awareness, potential unidentified inorganic acquisitions, and general corporate purposes were some of the other goals stated by the firm.

In the pre-IPO funding round, SBI Mutual Fund invested ₹100 crore in Lenskart, while Radhakishan Damani, founder of Avenue Supermarts (DMart), invested around ₹90 crore.

The company, one of India's largest omni-channel eyewear retailers, offers a wide range of prescription eyeglasses, sunglasses, and contact lenses through its online platform and retail network.

Founded in 2008, Lenskart started as an online eyewear platform in 2010 and opened its first physical store in New Delhi in 2013.

The company has a presence across metro, tier-1, and tier-2 cities, along with international operations in Southeast Asia and the Middle East.

Lenskart will make its debut on the stock exchanges on November 10.

Lenskart IPO GMP