Lenskart Solutions’ shares debuted 3% below the issue price, disappointing grey market expectations despite strong IPO demand with a 28.26x subscription. The muted listing reflects investor caution over valuation and growth prospects in India’s competitive eyewear retail market
Monday saw a muted debut for Lenskart Solutions, a seller of eyeglasses, with shares listing at a discount of around 3% and trailing expectations in the grey market. The Bombay Stock Exchange (BSE)’s opening stock of the corporation was ₹390 against the issue price of ₹402. From its IPO, the stock fell to a low of Rs 355.70, some 9% below the offer price. Business Standard Lenskart listed at ₹395 on the National Stock Exchange of India (NSE), a 1.75 per cent discount against the IPO price, and quickly gave away more ground.
Ahead of listing, unlisted Lenskart shares were trading at around ₹412, suggesting a minor grey-market premium (GMP) of only ₹10 or roughly 2.5 per cent over the issue price. The muted grey-market reaction reflected controlled investor enthusiasm before the IPO. Although the debut was tepid, the IPO itself attracted great demand; the National Stock Exchange of India
Through a mix of fresh issuance (53.5 million shares) and an offer for sale (127.6 million shares), the Lenskart IPO Lenskart Solutions Ltd
