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Lenskart IPO lapped up on Day 1 despite valuation concerns
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The initial public offering (IPO) of omnichannel eyewear retailer Lenskart was fully subscribed on the first day itself, as institutional and retail investors lapped up the portions reserved for them.
The issue was subscribed 1.12 times by the close of bidding on Friday, with bids for 11.2 crore shares against the almost 9.98 crore on offer. Institutional buyers led the demand, with their basket of shares subscribed 1.42 times. This segment usually sees bidding late on the last day of the IPO.
The retail portion was subscribed 1.3 times, while…
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