Lenskart IPO subscription will remain open from Oct. 31 to Nov. 4. (Photo Source: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The initial public offering of Lenskart Solutions Ltd. opened on Friday, and the grey market premium for the IPO has once again risen. A day ahead of the launch, Lenskart Solutions IPO GMP had dropped nearly 50%.

The decline in GMP was amid concerns over the eyewear company’s steep valuation, pegged at around Rs 70,000 crore, which many analysts find stretched.

The IPO is a book-built issue worth Rs 7,278.02 crore. It includes a fresh issue of 5.35 crore shares, worth Rs 2,150 crore, and an offer-for-sale (OFS) of 12.76 crore shares, amounting to Rs 5,128.02 crore.

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