Shares of eyewear major Lenskart made a weak debut at the bourses on Monday, listing at a discount of three per cent, against the issue price of Rs 402. Shares of the company listed at Rs 390, a 2.99 per cent decrease from the issue price on the BSE. On the National Stock Exchange (NSE), it was listed at Rs 395, representing a 1.74 per cent decline.
The initial public offering (IPO) of Lenskart received over 28 times the subscription on the final day of the share sale, November 4.
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.
Lenskart IPO GMP Today
According to Investorgain, Lenskart Solutions' unlisted shares traded at a grey market premium (GMP) of Rs 10, a considerable fall from their peak. Considering the upper price band of Rs 402, the company's shares are expected to list at around Rs 412, reflecting a grey market premium of 2.49 per cent.
Lenskart proposes to use the proceeds from the IPO for strategic initiatives, including capital expenditure to set up new company-operated, company-owned (CoCo) stores in India, and payments under lease, rent, and licence agreements for these CoCo stores.
Investments in technology and cloud infrastructure, brand marketing and business promotion to enhance brand awareness, potential unidentified inorganic acquisitions, and general corporate purposes were some of the other goals stated by the firm.
AI-Enabled Smartglasses
Meanwhile, Lenskart said it will open its upcoming AI-enabled smartglasses, B by Lenskart, for India's developer community, allowing consumer app makers and independent developers to integrate its AI and camera technology across sectors such as food delivery, entertainment, and fitness.
The smartglasses - designed and engineered in India - are slated for launch by the end of December 2025, the company said in a statement.
"This pioneering move positions Lenskart as a frontrunner in building India's first full-stack wearables ecosystem, combining hardware excellence, AI innovation, and software design under one roof," it said.
With PTI inputs
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
