Lenskart IPO: A New Focus for Indian Investors
Lenskart Solutions Ltd has raised Rs 3,268 crore from anchor investors on Thursday, ahead of its initial public offering. The company allotted 8.13 crore shares at Rs 402 apiece to 147 anchor investors.
Anchor Investors Show Strong Interest
New World Fund got the highest allocation of 3.82%. While T. Rowe Price International Discovery Fund got the second highest allotment of 3.11%, SBI Focused Fund got 3.06% stake in the company.
Twenty-one domestic mutual funds have applied through 59 schemes, the eyewear firm said in an exchange filing on Thursday. They have collectively netted 35.34% of the anchor portion. SBI, Kotak, ICICI Prudential, HDFC and Axis were among the major fund houses in this category.
IPO Details and Subscription
Lenskart Solutions’ IPO anchor book received bids worth Rs 68,000 crore on Thursday, sources told NDTV Profit. This is nearly 10 times the issue size of about Rs 7,300 crore, and 20 times the anchor book size of nearly Rs 3,200 crore.
The anchor book reflects a strong interest from foreign institutional investors, who account for 52% of the bids received. This marks a departure from the domination of domestic institutional investors seen in most major IPOs over the last two years.
The IPO will open for subscription on Friday, Oct. 30 and close on Nov. 4. The Peyush Bansal-led eyewear products maker will raise Rs 2,150 crore via fresh issue of shares, while promoters and investors will be offloading 12.75 crore equity shares via offer-for-sale. The OFS amounts to Rs 5,128, including from the likes of Softbank Vision Fund, Kedaara Capital, TR Capital, and Chiratae Ventures.
Company Overview and Market Presence
Lenskart is a technology-driven eyewear company focused on improving access to affordable, high-quality eyewear. The company primarily sells prescription eyeglasses, sunglasses, contact lenses and related accessories through a direct-to-consumer model under its own brands and sub-brands.
With India as its largest market, Lenskart is the country’s largest seller of prescription eyeglasses by volume among organised retailers in FY2025, according to a Redseer Report. Leveraging its scale and supply-chain expertise, Lenskart has also expanded into select international markets including Japan, Southeast Asia and the Middle East.
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Conclusion and Future Outlook
The Lenskart IPO has generated significant interest among investors, with its strong anchor book and large issue size. As the company looks to expand its presence in the Indian and international markets, investors will be closely watching its performance and growth prospects.
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