Copyright thehindubusinessline
Lenskart Solutions Ltd’s initial public offering (IPO) received a strong response from investors with an overall subscription of 1.13 times. Qualified institutional buyers (QIBs) category led the demand with subscriptions at 1.42 times, followed by the retail investor segment at 1.31 times, while the non-institutional investors (NIIs) portion saw a more moderate response at 0.41 times. The employee quota was subscribed 1.10 times. IPO details Lenskart’s ₹7,278-crore public issue, comprising fresh issue of ₹2,150 crore, with the remainder an offer-for-sale of 12.75 crore equity shares, will conclude on November 4, 2025. The stock will likely list on NSE and BSE on November 10, 2025. The selling shareholders include Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi — along with investors SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund II, Macritchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP. The price band is fixed at ₹382 to ₹402 per share. Investors can apply for a minimum of 37 shares, and in multiples thereof. Lenskart plans to use the IPO proceeds for various strategic initiatives, including capital expenditure to establish new company-operated, business promotion and general corporate purposes. Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, and Intensive Fiscal Services Private Limited are the book running lead managers to the issue. Anchor book Ahead of the public offer, Lenskart raised ₹3,268 crore from anchor investors by allocating approximately 8.13 crore shares at ₹402 each. About 2.87 crore equity shares were allocated to 21 domestic mutual funds through a total of 59 schemes. The anchor book saw participation from leading mutual funds such as SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset, DSP Mutual Fund, Franklin India, HSBC MF, WhiteOak Capital, Edelweiss, Bandhan, and Canara Robeco, and insurance companies such as SBI Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, Bajaj Allianz Life Insurance, Kotak Mahindra Life Insurance, Axis Max Life, Reliance Nippon Life Insurance, and Tata AIA Life Insurance. Despite positive views by majority of brokerages, recommending to subscribe for long-term, analysts flag broader risks including supply-chain dependence, the competitive landscape in organised eyewear retail, and the need for the company to sustain profitability as it grows. Published on October 31, 2025
