Lenskart’s Rs 7,278 cr IPO gets 2 times subscription on second day

New Delhi: The initial public offering of Lenskart Solutions Ltd received 2.01 times subscription on the second day of share sale on Monday.

The Rs 7,278-crore IPO received bids for 20,09,53,512 shares, as against 9,97,61,257 shares on offer, as per NSE data.

The Retail Individual Investors (RIIs) part fetched 3.33 times subscription, while the non-institutional investor category got subscribed 1.88 times. The portion for Qualified Institutional Buyers (QIBs) received 1.64 times subscription. The company’s IPO will conclude on Tuesday.

The eyewear firm has fixed a price band of Rs 382 to Rs 402 per share for the IPO, targeting a valuation of over Rs 69,700 crore at the upper end.

Lenskart’s public offering has a fresh issue of shares worth Rs 2,150 crore and an Offer-for-Sale (OFS) of 12.75 crore equity shares by promoters and investors.

As a part of the OFS, promoters — Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, and 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.