Lenskart IPO price band has been fixed in the range of ₹382 to ₹402 per equity share of the face value of ₹2. The Lenskart IPO date of subscription is scheduled for Friday, October 31, and will close on Tuesday, November 4. The allocation to anchor investors for the Lenskart IPO is scheduled to take place on Thursday, October 30. The Lenskart IPO lot size is 37 equity shares and in multiples of 37 equity shares thereafter.
Lenskart IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. A discount of ₹19 per equity share is being offered to eligible employees.
Tentatively, Lenskart IPO basis of allotment of shares will be finalised on Thursday, November 6, and the company will initiate refunds on Friday, November 7, while the shares will be credited to the demat account of allottees on the same day following refund. Lenskart share price is likely to be listed on BSE and NSE on Monday, November 10.
Lenskart IPO details
Lenskart IPO seeks to gather ₹2,150 crore through the issuance of new shares. Besides this fresh issuance, there will also be a component of offer-for-sale (OFS), where promoters and investors plan to sell over 12.75 crore equity shares.
Within the OFS, promoters — Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi; along with 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 — will offload their shares.
Lenskart intends to allocate the funds raised from the IPO towards various strategic objectives, such as capital investments for establishing new company-operated, company-owned (CoCo) stores across India; settling lease, rent, and license fees associated with these CoCo locations; investing in technology and cloud systems; enhancing brand visibility through marketing and promotional activities; exploring potential unidentified acquisitions; and addressing general corporate needs.
In recent reports from last week, sources indicated that billionaire investor Radhakishan Damani, founder of Avenue Supermarts (DMart), poured approximately ₹90 crore into the eyewear retailer Lenskart during a pre-IPO funding phase.
Company details
Lenskart, among the largest omni-channel eyewear retailers in India, provides a broad selection of stylish and affordable prescription glasses, sunglasses, and contact lenses via its online platform and extensive network of retail locations.
Established in 2008, Lenskart launched as an online eyewear service in 2010 and inaugurated its first brick-and-mortar store in New Delhi in 2013. Over time, it has transformed into one of the leading consumer brands in the eyewear sector in the country.
The company is present in metropolitan, Tier-1, and Tier-2 cities, and also operates internationally in Southeast Asia and the Middle East.
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