Lenskart IPO subscribed nearly 30 times on final day of bidding

The initial public offering (IPO) of eyewear retailer Lenskart closed on Tuesday, with bids totalling 28.26 times the number of shares on offer, driven by qualified institutional buyers (QIBs) and non-institutional investors (NIIs).

According to BSE data, the IPO received bids for 2,818.8 million shares against 99.7 million on sale.

The QIB portion was subscribed 40.3X times, with bids for 2,186.8 shares against 54.2 million reserved for this category. The stock set aside for NIIs saw nearly 18.2X oversubscription, while the retail allocation was subscribed eight times and the employees’ chunk 4.96 times.


The IPO, which opened on October 31, is targeting Rs 7,300 crore and will value the company at Rs 70,000 crore when it lists on the exchanges on November 10.

Also Read: Shark Tank trained me for public scrutiny: Peyush Bansal on Lenskart IPO valuation backlash

On the first day of subscription, the grey market premium of the company's shares dropped nearly 9% to 18% of the issue price of Rs 402.

The price band was set between Rs 382-402 per share, with a face value of Rs 2 each.

The Peyush Bansal-founded company reported a net profit of Rs 297 crore in FY25, up from a Rs 10 crore loss in FY24. Its revenue stood at Rs 7,009 crore in the last fiscal year.

The IPO aims to raise fresh capital to support expansion and provide an exit for early investors. The company raised Rs 90 crore in pre-IPO investment from Radhakishan Damani, billionaire investor and founder of DMart, on October 24.