The BRICS TimesLenskart’s ₹70,000 Crore Valuation: IPO Price Band Set at ₹382-402 Per Share
The initial public offering (IPO) for eyewear major Lenskart is now open. Public bidding started today, October 31. The massive ₹7,278-crore public issue saw 9 percent subscription on its first day so far.
The company’s debut public offering attracted bids for over 88.55 lakh shares. This is against the total offer size of 9.98 crore shares. NSE data confirmed this subscription status at 11 am. Retail investors showed strong interest, booking 37 percent of their quota. Non-Institutional Investors (NII) subscribed 8 percent of their allocated portion. Qualified Institutional Buyers (QIBs) have yet to place any significant bids.
All You Need to Know About Lenskart IPO
Lenskart is raising ₹7,278 crore through this IPO. It includes a fresh issue of shares worth ₹2,150 crore. It also involves an offer for sale (OFS) of 12.75 crore shares. The IPO remains open for public subscription until November 2. The price band is fixed at ₹382-402 per share. This range targets a total company valuation of around ₹70,000 crore.
Investors must bid for a minimum of 37 shares. This requires a minimum investment of ₹14,874. Bids can be made in multiples of this lot size. Share allotments are expected to be announced on November 5. The shares are scheduled for listing on stock exchanges on November 10.
Is This IPO Worth Your Money?
Lenskart IPO is backed by top investors and has a powerful brand. This combination generated high market buzz, stated Shravan Shetty, MD at Primus Partners. He observed a decent Grey Market Premium (GMP) despite the high valuation. This suggests the market views Lenskart as a fast-scaling tech company.
Siddharth Maurya, Founder & MD at Vibhavangal Anukulakara, commented on the firm’s strengths. “The omni-channel reach and aggressive international expansion are obvious differentiators, with a possible valuation of close to ₹70,000 crore.” He added a note of caution for investors. They must check if unit economics and margins can withstand rising operational costs. Sustained profitability is key for Lenskart to move from a startup to a stable listed business. The Indian optical market is currently under-penetrated, offering long-term growth.
Shivani Nyati, Head of Wealth at Swastika Investmart, gave a ‘Neutral’ rating. She cited the stretched valuations, despite the solid business fundamentals.
Lenskart Anchor Investor Details
Lenskart raised ₹3,268.4 crore from 147 anchor investors. This was a day before the public bidding started. Major global names took part in the anchor book. These include Government of Singapore, T Rowe Price, and BlackRock. Other participants were Goldman Sachs, Fidelity, and Nomura. Wellington Management Company, Steadview Capital, and JP Morgan also invested. Amundi Funds and Allspring Global Investments were also key investors.
