Lenskart's IPO Debut: A Mixed Trading Start with Promising Prospects

Eyewear retailer Lenskart Solutions had a lukewarm IPO debut, listing with a slight discount but later recovering to close marginally higher. The IPO, with a price band of Rs 382-402, was notably oversubscribed and aimed to fund strategic growth initiatives. Lenskart continues to expand its presence both domestically and internationally.

Shares of eyewear retailer Lenskart Solutions saw a mixed response on their debut trading day, initially listing at a discount but recovering to close slightly higher. This performance followed significant interest in the company's IPO, which was oversubscribed by investors.

On the Bombay Stock Exchange (BSE), Lenskart's stock debuted at Rs 390, a 2.98% dip from the issue price, before rebounding to end at Rs 403.30. Meanwhile, the National Stock Exchange (NSE) saw shares open at Rs 395, closing 0.63% up at Rs 404.55.

The IPO raised Rs 7,278 crore, priced between Rs 382 and Rs 402 per share, and will fund strategic expansion plans including new store openings and tech investments. With a robust retail and online network, Lenskart aims to strengthen its market presence both in India and internationally, having already established operations across Southeast Asia and the Middle East since its inception in 2008.

(With inputs from agencies.)