Lenskart IPO: Everything you need to know

Eyewear brand Lenskart is making its much-awaited stock market debut today after its initial public offering (IPO) closed on November 4.

Final day of bidding

On the last day of the IPO, which opened on October 31, investor demand was strong, with total bids reaching 28.26 times the number of shares available. The surge came mainly from qualified institutional buyers (QIBs) and non-institutional investors (NIIs).

As per BSE data, Lenskart received bids for 2,818.8 million shares against 99.7 million on offer.

QIBs subscribed 40.3 times, bidding for 2,186.8 million shares against the 54.2 million reserved. NIIs subscribed 18.2 times, while the retail portion was oversubscribed eight times. The employee category was subscribed 4.96 times.
Also Read: Lenskart IPO: Important numbers to know before the listing

Anchor investors allocation details

Before the IPO opened, Lenskart Solutions raised Rs 3,268.3 crore from 147 anchor investors, issuing 8.13 crore shares at Rs 402 (the top of the price band) each.

Key domestic participants included SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, DSP, Franklin Mutual Fund, WhiteOak Capital, and Mirae Asset, along with insurers such as SBI Life, HDFC Life, ICICI Prudential Life, Bajaj Allianz Life, and Tata AIA Life.

Major foreign investors included the Government of Singapore, Monetary Authority of Singapore, Norway's Government Pension Fund Global, T Rowe Price, Fidelity, BlackRock, Capital Group, and Goldman Sachs.

Lenskart IPO details:

Total issue size: Rs 7,300 crore Fresh issue: Rs 2,150 crore Offer for sale (OFS): Rs 5,128 crore Price band: Rs 382–Rs 402 per equity share (face value Rs 2) Expected valuation: Around Rs 70,000 crore (~$8 billion) OFS size: Trimmed from 132.3 million shares to 127.5 million shares (following a pre-IPO sale by cofounder Neha Bansal worth Rs 90 crore at Rs 402 per share)Use of proceeds:

Around Rs 272 crore will go towards opening new stores in India. About Rs 591 crore will be used for leasing, rentals, and other expenses of Lenskart's over 2,700 existing outlets. An undisclosed portion will be set aside for acquisitions.Major selling shareholders

Founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with investors such as SoftBank, TR Capital, Kedaara Capital, and TPG Growth, are among the main sellers in the offer.

Source: EconomicTimes
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