Eyewear retailer Lenskart Options’ Rs 7,278 crore IPO witnessed robust investor demand, closing with an general subscription of 28.27 instances on Tuesday, November 4. 

In response to trade information, the certified institutional consumers (QIB) class led the surge with bids at 40.36 instances, whereas the non-institutional traders (NII) and retail investor parts have been subscribed 18.23x and seven.56x, respectively. The portion reserved for workers was subscribed 4.96x.

The IPO, which opened on October 31 and closed on November 4, sought to boost a complete of Rs 7,278 crore, together with a contemporary subject of Rs 2,150 crore and a suggestion on the market (OFS) of Rs 5,128 crore by present traders. The value band was fastened between Rs 382-Rs 402 per share. 

Founder and CEO Peyush Bansal is ready to dump shares value Rs 824 crore, incomes an estimated 21x return on his unique funding. On the higher finish of the value band, Bansal’s remaining stake post-listing will stand at roughly 8.78%. Current shareholders, together with SoftBank Imaginative and prescient Fund, Temasek Holdings, TR Capital, and Alpha Wave International, additionally participated within the OFS part.

Lenskart operates a direct-to-consumer (D2C) mannequin that bypasses intermediaries, enabling sooner supply and decrease pricing. The corporate has established a powerful omnichannel presence, combining an intensive on-line platform with over 2,700 bodily shops throughout cities in India and choose world markets, together with Singapore, Dubai, and Riyadh. 

The allotment of shares is anticipated to be finalized on November 6, with itemizing on the BSE and NSE probably on November 10.