Mumbai’s eye‑care giant Lenskart entered the Indian stock market on Monday, but its first day was a mixed bag. The company’s shares were listed on the BSE at ₹390 a share, just below the IPO price of ₹402. On the NSE the opening price was a little higher, at ₹395.
After the debut the shares slid to a low of ₹355.70, a fall of more than 9 % from the issue price. Later, however, the stock bounced back sharply, rallying over 15 % from the lowest point to reach an intra‑day high of ₹413.80.
By 2 p.m. the shares were trading close to the original price, at ₹404.55—up 0.6 % from the listing price. Over the same time, the market indices were solid: the Sensex was at 83,630.53 (up 0.5 %) and the Nifty at 25,615.85 (up 0.48 %).
The IPO drew strong demand, with overall subscription 28‑times the number of shares offered. Investors bid for 281.88 crore shares against the 9.97 crore shares put up. Institutional investors were the biggest buyers, subscribing 40.35 times the shares set aside for them, while non‑institutional investors bid 18.23 times.
Retail investors also made a noticeable contribution despite the higher price band of ₹382–₹402 per share. The public offer consisted of a fresh issue worth ₹2,150.74 crore and an offer for sale (OFS) of ₹5,128.02 crore.
The muted start reflects a cooler grey‑market sentiment, with the premium falling to about 2 % ahead of listing, suggesting only modest upside expectations. Still, Lenskart’s quick afternoon rebound signals ongoing investor interest in the fast‑growing eyewear brand.
Source: ianslive
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