Lenskart Shares Make Muted D-Street Debut, List At 3% Discount

Shares of omnichannel eyewear retailer Lenskart made a muted debut on the bourses, listing 3% below the issue price at INR 390 apiece on the BSE.

The stock got listed at INR 395 per share on the NSE, marking a discount of 1.74% to the issue price of INR 402.

The stock tanked further after listing and was trading 8.84% below the issue price at INR 366.45 on the BSE at 10:02 IST.

Lenskart’s INR 7,278 Cr IPO closed with an oversubscription of 28.26X. The public issue received bids for 281.88 Cr shares against 9.97 Cr shares available for subscription.

The IPO comprised a fresh issue of up to INR 2,150 Cr and an OFS component of 12.76 Cr shares. Institutional investors including SVF II Lightbulb (SoftBank), Schroders, PI Opportunities, Macritchie Investments, Kedaara Capital, and Alpha Wave Ventures offloaded their shares through the OFS.

SoftBank pocketed 5.4X return on its initial investment via the share sale, while PI Opportunities Fund II got 16.6X return. Cofounder and promoter Peyush Bansal offloaded 2 Cr shares, raking in INR 823 Cr.

The company plans to use the capital raised from the fresh issue to build its cloud infrastructure, invest in research, design and development of its products and platform, purchase computer systems, and for acquisitions and general corporate purposes.

Founded in 2010, Lenskart sells a wide range of products including eyeglasses, sunglasses, and contact lenses through a combination of online and physical stores. The company has expanded into multiple customer segments over the years through various brands.

Its premium offerings include John Jacobs and Owndays, while Lenskart Air, Vincent Chase, hustlr, and Hooper Kids are among the other brands in its portfolio.

On the financial front, the Gurugram-based company posted a net profit of INR 61.2 Cr in the first quarter of FY26 as against a loss of INR 11 Cr in the previous year. Operating revenue for the quarter stood at INR 1,894.5 Cr, marking a 25% jump from INR 1,520.4 Cr in Q1 FY25.

In FY25, Lenskart reported a net profit of INR 297.3 Cr as against a loss of INR 10.2 Cr in the previous fiscal. Its operating revenue grew 23% to INR 6,652.5 Cr from INR 5,427.7 Cr in FY24.

With the public market debut, Lenskart became the first new-age tech company to go public this week. Shares of Groww and Pine Labs are also expected to list later this week. Edtech unicorn PhysicsWallah is scheduled to hit the bourses next week.

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