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HomeMarket NewsLenskart IPO Opens Day 1 Live Updates: GMP rises slightly; retail portion subscribed 93% on Day 1 so far
Lenskart IPO Opens Day 1 Live Updates: Lenskart aims to raise ₹2,150 crore through a fresh issue to fund its business expansion. Existing investors will offload 12.76 crore shares through an Offer for Sale (OFS). Ahead of the issue launch, SBI Mutual Fund invested ₹100 crore in Lenskart, valuing the company at around $7.7 billion, following a separate pre-IPO transaction where billionaire investor Radhakishan Damani bought shares worth ₹90 crore.
Lenskart IPO Opens Day 1 Live Updates: The ₹7,278.02 crore initial public offering (IPO) of SoftBank-backed eyewear startup Lenskart Solutions opened for subscription on Friday, October 31. The company is offering its shares in a price band between ₹382-402 per share.
Ahead of the opening of the IPO, Lenskart raised ₹3,268.4 crore from anchor investors, including Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global (Norway), BlackRock, Goldman Sachs, Nomura, JP Morgan, among others.
At this higher end of the price band, Lenskart Solutions will be valued at around ₹69,741 crore on a post-issue basis. Investors can make bids in lots of 37 shares and in multiples thereafter.
The issue will close for subscription on November 4. A key point of caution among analysts is the quality of recent profit. The company has become PAT positive in FY25, reporting a profit of ₹297 crore. However, this profit largely stems from a one-time, non-cash accounting gain, leading to high P/E multiples on a normalised basis.
