Lenskart Solutions Ltd., India's largest organized retailer of prescription eyeglasses by volume, is poised to make its stock market debut on November 10, following a successful Initial Public Offering (IPO) that garnered significant investor interest.

IPO Details

The Lenskart IPO, which closed with an impressive 28.27 times subscription, raised a total of Rs 7,278.02 crore. Here's a breakdown of the offering:

Grey Market Premium Trends

The Grey Market Premium (GMP) for Lenskart shares has shown a notable decline:

This decline in GMP suggests a potential listing price of Rs 436 per share, representing an 8.46% premium over the upper price band of Rs 402.

Key Dates for Investors

Investors should take note of the following important dates:

Company Overview

Lenskart has established itself as a prominent player in the eyewear market:

• Operates primarily through a direct-to-consumer model
• Largest seller of prescription eyeglasses by volume among organized retailers in India
• Expanded presence in international markets including Japan, Southeast Asia, and the Middle East

The company's successful IPO and imminent listing mark a significant milestone in its growth journey. Investors and market watchers will be keenly observing Lenskart's performance as it transitions into a publicly traded company.

As the listing date approaches, the declining Grey Market Premium suggests a moderation in expectations. However, the strong subscription rate indicates robust investor interest in Lenskart's business model and growth prospects.

Investors are advised to consider their financial goals and risk tolerance when making investment decisions, and to keep an eye on market conditions leading up to the listing date.

Lenskart Solutions, India's largest prescription eyeglasses seller by volume among organized retailers, has concluded its Initial Public Offering (IPO) with robust investor interest. The Rs 7,278.02-crore IPO was oversubscribed 28.26 times on the final day of bidding, showcasing strong market confidence in the company's potential.

Subscription Details

The IPO received an overwhelming response across various investor categories:

Overall, the offering attracted bids for 2,81,88,45,777 shares against the 9,97,61,257 shares available, indicating significant investor enthusiasm.

IPO Structure and Pricing

The Lenskart IPO comprises two components:

1. A fresh issue of Rs 2,150 crore
2. An offer-for-sale (OFS) of Rs 5,128.02 crore

The price band for the IPO was set between Rs 382 to Rs 402 per share.

Key Dates

• Allotment Date: November 6, 2023
• Listing Date: November 10, 2023 (scheduled)
• Listing Venues: BSE and NSE

Grey Market Premium

The grey market premium for Lenskart shares has seen a decline:

• Initial Premium: Rs 95 (as of October 31)
• Current Premium: Rs 45

Based on the current grey market premium, the estimated listing price is around Rs 447 per share. However, it's important to note that grey market premiums are unofficial and subject to change.

About Lenskart

Lenskart has established itself as a prominent player in the eyewear market:

• Largest prescription eyeglasses seller by volume among organized retailers in India
• Operational presence across multiple regions:
  • India
  • Japan
  • Southeast Asia
  • Middle East

The strong investor response to Lenskart's IPO reflects the market's positive outlook on the company's business model and growth prospects in the expanding eyewear market.

Investors and market watchers will be keenly observing Lenskart's performance as it prepares for its stock market debut on November 10, 2023.

Note: IPO investments carry risks, and investors should conduct thorough research and consider their financial goals before making investment decisions.