Lenskart IPO lapped up on Day 1 despite valuation concerns

Share via:



The initial public offering (IPO) of omnichannel eyewear retailer Lenskart was fully subscribed on the first day itself, as institutional and retail investors lapped up the portions reserved for them.

The issue was subscribed 1.12 times by the close of bidding on Friday, with bids for 11.2 crore shares against the almost 9.98 crore on offer. Institutional buyers led the demand, with their basket of shares subscribed 1.42 times. This segment usually sees bidding late on the last day of the IPO.

The retail portion was subscribed 1.3 times, while…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Lenskart IPO lapped up on Day 1 despite valuation concerns



The initial public offering (IPO) of omnichannel eyewear retailer Lenskart was fully subscribed on the first day itself, as institutional and retail investors lapped up the portions reserved for them.

The issue was subscribed 1.12 times by the close of bidding on Friday, with bids for 11.2 crore shares against the almost 9.98 crore on offer. Institutional buyers led the demand, with their basket of shares subscribed 1.42 times. This segment usually sees bidding late on the last day of the IPO.

The retail portion was subscribed 1.3 times, while…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Inside Uzbekistan’s Nationwide License Plate Surveillance System

An anonymous reader quotes a report from TechCrunch:...

Android Automotive will let you PIN-lock apps to keep...

TL;DR Google is introducing a native App Lock feature for...

Coinbase Ventures backs $35m series A in US trading...

The company previously raised US$5 million in pre-seed...

Popular