After a sellout IPO, Lenskart makes weak debut on bourses amid valuation concerns

Omnichannel eyewear retailer Lenskart listed on Indian stock exchanges at a slight discount from its issue price of Rs 402 per share on Monday. The scrip opened 3% lower on the BSE at Rs 390 per share, and 1.7% down on the National Stock Exchange at Rs 395 apiece. The stock’s market value on the NSE at the time of listing was Rs 68,527 crore.

The Lenskart IPO saw broad investor interest with 28.26 times subscription by its final day on November 4. Institutional buyers drove demand, bidding for 2,186.8 million shares, or 40.3 times the 54.2 million…