Lenskart Solutions’ initial public offering (IPO) closed with remarkable demand, being subscribed about 28.26 times on its final day of bidding — meaning investors bid for roughly 28.26 shares for every share on offer. The issue size was approximately ₹ 7,278 crore, making it one of the largest IPOs of the year in India.
Key Details of the Offer
- Price band: ₹ 382-₹ 402 per share.
- Fresh issue: ~₹ 2,150 crore and an Offer-for-Sale (OFS) of ~12.76 crore shares amounting to ~₹ 5,128 crore. The Financial Express
- Strong subscription across categories (especially on final day), led by institutional and non-institutional investors.
Why the Huge Demand?
- Market leadership: Lenskart is a well-known player in the eyewear retail and D2C space in India, with growing omnichannel presence.
- Growth story: The eyewear market is under-penetrated in India, offering a long runway for growth, which likely excited investors despite sizeable valuation.
- IPO size & visibility: Large-cap IPOs often draw strong attention, and with anchor investor participation and brand recall, Lenskart’s issue garnered early traction.
Things to Keep in Mind
- While a high subscription suggests listing-day gains and strong sentiment, subscription alone is not guarantee of long-term performance. Valuation, execution, margin growth, competitive dynamics will determine sustained success.
- At the upper band price and given the size of the issue, the company faces high growth expectations. Investors should monitor whether Lenskart can deliver on expansion, profitability, and brand strength.
- IPO investments carry listing and market-risk: listing premium may be high, but post-listing correction is possible if business fundamentals or market sentiment shift.
