Lenskart IPO: The (IPO) of Lenskart Solutions is gearing up to hit the Indian primary market on Friday, October 31. With this ₹7,278 crore IPO, will join a list of many marquee companies like LG Electronics, Tata Capital, HDB Financial and Ather Energy that have listed on the Indian stock market this year.
At the upper end of the price band, Peyush Bansal-led company is seeking a valuation of close to ₹70,000 crore. Lenskart IPO is also enjoying a decent grey market premium, signalling investor interest ahead of the launch of the public offer.
10 key things about Lenskart IPO
Here are 10 key things about Lenskart IPO that investors should know:
1. Lenskart IPO dates
Lenskart IPO will be available for bidding from October 31 to November 4. The allotment for the Lenskart IPO will be finalised on November 6. Meanwhile, Lenskart shares will list on the stock exchanges on November 10.
2. Lenskart IPO price band
Lenskart Solutions IPO price band has been set at ₹382 to ₹402 per share. The company is looking to raise ₹7,278 crore at the upper end of the price band.
3. Lenskart IPO structure
Lenskart’s book-built offer includes a fresh issue of shares worth ₹2,150 crore and an offer-for-sale (OFS) of over 12.75 crore shares by promoters and investors.
4. Who is selling stake via Lenskart OFS?
As part of the OFS, promoters Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi will sell stake via IPO. Investors SVF II Lightbulb (Cayman) Ltd, Schroders Capital Private Equity Asia Mauritius Ltd, PI Opportunities Fund II, Macritchie Investments Pte Ltd, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP, would offload shares via the OFS.
5. Lenskart IPO objective
Lenskart plans to use the fresh proceeds from the share sale for capex towards setting up new CoCo stores in India, investing in technology and cloud infra, brand marketing and promotion, unidentified inorganic acquisitions and general corporate purposes.
6. Lenskart IPO lot size
Investors can apply for the IPO in lots of 37 shares. The minimum amount of investment required by a retail investor is ₹14,874 at the upper end of the price band.
7. Lenskart IPO reservation
At least 75% of the Lenskart IPO is reserved for the qualified institutional buyers (QIBs), not more than 10% is allocated for retail investors, and not over 15% is earmarked for the non-institutional investors (NIIs).
8. Lenskart IPO GMP
Lenskart IPO GMP today stood at ₹53 apiece on Thursday. This means Lenskart shares are trading ₹53 higher than the issue price of ₹402. At the prevailing GMP and price band, Lenskart IPO listing price could be ₹455, a listing premium of 13%.
9. Lenskart IPO BRLM
Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital and Intensive Fiscal Services are the book-running lead managers to the IPO.
10. About Lenskart
Founded in 2008, Lenskart began as an online eyewear platform in 2010 and expanded into offline retail with its first physical store in New Delhi in 2013. Since then, it has grown into one of India’s leading consumer brands in the eyewear segment.
The company now has a strong presence across metro, Tier-1, and Tier-2 cities, along with international operations in Southeast Asia and the Middle East.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.