Lenskart IPO day 3: Issue gets subscribed 28x amid heavy QIB demand
Lenskart’s IPO saw heavy demand on its final day, with overall bids exceeding issue size by 28x. QIBs led at 40x subscriptions, NIIs at 18x, and retail at 7.5x.
Eyewear retailer Lenskart’s initial public offering (IPO) saw robust demand on its final day, with the total issue being oversubscribed 28x as of 5 pm on Tuesday, the last day of bidding.
Qualified institutional buyers (QIBs) led the surge, with the portion oversubscribed 40 times, while the non-institutional investor (NII) segment was subscribed 18 times. Within the non-institutional investors (NII) category, bids reserved for above Rs 10 lakh were subscribed 21x, and those between Rs 2–10 lakh stood at 11x.
Retail investor interest also remained strong, with subscriptions at 7.53 times, while the employee portion was oversubscribed 4.96 times.
The IPO, which opened on October 31 and closed today, comprised a fresh issue of shares worth up to Rs 2,150 crore and an offer for sale of up to 127.5 million shares by existing shareholders. The price band is set at Rs 382–402 per share.
The Peyush Bansal-led startup had earlier raised Rs 3,268 crore from 147 anchor investors, including the Government of Singapore, T Rowe Price, Goldman Sachs, Steadview Capital, and JPMorgan.
Lenskart IPO basis of allotment of shares is expected to be finalised on Thursday, November 6, and the company will initiate refunds on Friday, November 7. Shares of the Delhi-based company are likely to be listed on BSE and NSE on Monday, November 10.
Edited by Kanishk Singh