Lenskart IPO opens Oct 31 to raise up to Rs 7,278 crore

Lenskart Solutions will open its initial public offering on October 31, seeking to raise as much as Rs 7,278 crore through a combination of new shares and an offer for sale, with subscriptions scheduled to close on November 4 and a planned listing on the BSE and NSE on November 10. The company has set a price band of Rs 382 to Rs 402 per share, valuing the eyewear retailer at roughly Rs 72,700 crore at the top end of the range. Anchor investors may bid on October 30.

The IPO comprises a fresh issue of equity worth Rs 2,150 crore and an offer for sale of about 12.76 crore shares, the company said in regulatory filings and its draft prospectus. Lenskart said it has already raised Rs 3,268.36 crore from 147 anchor investors, allocating 81,302,412 shares at the upper end of the price band. Global institutional names were among those allocated shares, and domestic mutual funds received 35.34 percent of the anchor allocation.

Proceeds from the fresh issue will be used to expand company-operated stores, meet payments related to lease and rent agreements for those stores, invest in technology and cloud infrastructure, support brand marketing and business promotion, pursue potential...