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SoftBank-backed Lenskart’s initial public offering (IPO) was fully subscribed on day one of its bidding, with the allotment for qualified institutional buyers (QIBs), retail investors, and employees oversubscribed. On Friday, the total issue was subscribed 1.13X times, with the portion reserved for QIBs getting subscribed 1.42X. The retail portion of the allotment was subscribed 1.31X times, and that of employees was bid 1.1X times. By the end of the first day, investors had placed orders for 9.98 crore shares against 11.2 crore on offer, which constitutes 88.8% of the overall book. Meanwhile, the portion reserved for non-institutional investors saw comparatively lower bids. The allotment saw 41% of its portion subscribed. The public offering, opened today, will close on November 4 and comprises a fresh issue of equity shares worth up to Rs 2,150 crore and an offer for sale of up to 127.5 million shares by existing shareholders. Lenskart's IPO price band has been set in the range of Rs 382 to Rs 402 per share. It has allotted 8,13,02,412 equity shares at the upper end of its price band of Rs 402 per equity share. It plans to use the proceeds to set up new company-operated stores, invest in technology and cloud infrastructure, brand marketing, potential inorganic acquisitions, and general corporate purposes. Lenskart, which sells eyeglasses, contact lenses, and sunglasses, operates around 2,137 stores in India and 669 stores internationally. The company said that it was profitable and reported an operating revenue of Rs 6,652 crore in FY25. The eyewear retailer said it raised Rs 3,268.36 crore from 147 anchor investors before its IPO, according to a stock exchange filing. (Edited by Suman Singh)
