Eyewear retailer Lenskart Solutions Ltd’s Rs 7,278-crore initial public offering (IPO) was fully subscribed on the first day of bidding on Friday, drawing strong interest from institutional and retail investors, according to exchange data.As per NSE data till 15:06 hours, the issue received bids for 10.58 crore shares against 9.97 crore shares on offer, translating into 1.06 times subscription, PTI reported. The Qualified Institutional Buyers (QIBs) category was subscribed 1.42 times, the Retail Individual Investors (RIIs) portion saw 1.12 times subscription, while non-institutional investors subscribed to about 30 per cent of their quota. The IPO will close on November 4.The price band for the issue has been fixed at Rs 382–402 per share, valuing the company at over Rs 69,700 crore at the upper end. The public offer comprises a fresh issue of Rs 2,150 crore and an offer for sale (OFS) of 12.75 crore equity shares by promoters and existing investors.As part of the OFS, promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, along with investors including 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, will offload shares.Ahead of the issue, Lenskart allotted 8.13 crore shares to anchor investors at Rs 402 apiece, raising Rs 3,268 crore, as per a BSE circular.The company plans to use IPO proceeds for setting up new company-owned, company-operated (CoCo) stores, payments towards lease and licence agreements, and investments in technology, cloud infrastructure, and brand marketing. Funds will also go toward potential acquisitions and general corporate purposes.In the pre-IPO round, SBI Mutual Fund invested Rs 100 crore, while Avenue Supermarts founder Radhakishan Damani infused around Rs 90 crore.Founded in 2008, Lenskart began as an online eyewear platform in 2010 before opening its first physical store in New Delhi in 2013. It now operates across metro, tier-1, and tier-2 cities, with international presence in Southeast Asia and the Middle East.The company is set to debut on the stock exchanges on November 10.
