Lenskart IPO Opens Tomorrow: Check Price, Lot Size & Key Details

Lenskart IPO Opens Tomorrow: Indian eyewear brand Lenskart Solutions has scheduled to launch their initial public offering (IPO) tomorrow, i.e, October 31st. The company’s IPO has been set at Rs. 7,278 crores, in which a price range per share is set from Rs. 382 and 402. The prices of its unlisted shares dropped to Rs 52 on Thursday, or over 13%, from Rs 66 the day before the IPO.

Analysts expressed concerns about the IPO’s valuation, which comes at a price-to-earnings (P/E) ratio of 230x, at the same time as the GMP falls. The Lenskart IPO’s grey market premium, or GMP, was 16.5% on Wednesday, almost 18% on Tuesday, and 27% on Monday.

Lenskart IPO Opening, Closing & Listing Dates:
On October 31, the IPO will start, and on November 4, it will shut. On November 6, its allocation will be finalized, and on November 10, the stock will be listed on the BSE and NSE.

Lenskart IPO Price & Lot Size:
For its IPO, the company has set the price range at Rs 382-402 per share. According to the media reports, Lenskart is planning to aim for a valuation of 7.91 billion dollars, which is roughly 72,700 crore rupees at the upper end of the pricing range.

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The new issue of shares, which is valued at the price of Rs. 2,150 crore, will see investors going to sell about 12.75 crore equity shares through their offer-for-sale(OFS) option.

SBI Mutual Funds to invest 100 crores in Lenskart:
Through a pre-IPO transaction, SBI Optimal Equity Fund (AIF) and SBI Emergent Fund (AIF) invested Rs 100 crore at a transfer price of Rs 402 per equity share in the eyewear retailer Lenskart Solutions Limited.

One of the promoters, Neha Bansal, who previously owned 7.61% of Lenskart’s pre-offer paid-up equity share capital (fully diluted basis), transferred 2,487,561 equity shares as part of the deal. Following the transfer, Neha Bansal still owns 7.46% of the company’s fully diluted pre-offer share capital. The IPO Offer for Sale does not include the share sale.

As per the media reports, last week, DMart founder Radhakishan Damani invested around 90 crores in Lenskart through their pre-IPO transaction.