After a sellout IPO, Lenskart makes weak debut on bourses amid valuation concerns

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Omnichannel eyewear retailer Lenskart listed on Indian stock exchanges at a slight discount from its issue price of Rs 402 per share on Monday. The scrip opened 3% lower on the BSE at Rs 390 per share, and 1.7% down on the National Stock Exchange at Rs 395 apiece. The stock’s market value on the NSE at the time of listing was Rs 68,527 crore.

The Lenskart IPO saw broad investor interest with 28.26 times subscription by its final day on November 4. Institutional buyers drove demand, bidding for 2,186.8 million shares, or 40.3 times the 54.2 million…



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After a sellout IPO, Lenskart makes weak debut on bourses amid valuation concerns



Omnichannel eyewear retailer Lenskart listed on Indian stock exchanges at a slight discount from its issue price of Rs 402 per share on Monday. The scrip opened 3% lower on the BSE at Rs 390 per share, and 1.7% down on the National Stock Exchange at Rs 395 apiece. The stock’s market value on the NSE at the time of listing was Rs 68,527 crore.

The Lenskart IPO saw broad investor interest with 28.26 times subscription by its final day on November 4. Institutional buyers drove demand, bidding for 2,186.8 million shares, or 40.3 times the 54.2 million…



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.

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