Overview
- Lenskart opened at ₹390 on the BSE and ₹395 on the NSE versus the ₹402 issue price, then fell as much as 11.5% to around ₹355 before rebounding near ₹404.
- The IPO drew about 28x subscription, led by QIB demand at roughly 40x, and comprised a ₹2,150 crore fresh issue plus an OFS of about 12.75–12.76 crore shares.
- Grey‑market premium peaked around ₹95–108 ahead of listing but collapsed to roughly ₹9–10, with some trackers showing near zero, foreshadowing the weak start.
- Brokerages flagged valuation as rich, with Ambit initiating a sell call and a target near ₹337, even as others cited long‑term growth potential in organised eyewear.
- Pre‑IPO backers including SoftBank and Kedaara sold via the OFS, while Lenskart highlighted FY25 revenue of about ₹6,653 crore and ₹297 crore net profit and said fresh proceeds will fund store expansion, tech and cloud investments, and potential acquisitions.