The initial public offering (IPO) of eyewear retailer Lenskart Solutions got off to a strong start on Friday, drawing healthy investor interest on the first day of bidding. The issue was subscribed 1.13 times at the end of Day 1.

Among investor categories, the qualified institutional buyers (QIBs) portion led the demand, getting subscribed 1.42 times, followed by the retail investors' quota at 1.31 times. The non-institutional investors (NII) segment saw relatively moderate participation at 0.41 times.

In the unlisted market, Lenskart's shares are commanding a premium of ₹85. Based on the upper end of the price band at ₹402, the estimated listing price stands around ₹487 per share, indicating a potential listing gain of about 21%.

However, analysts caution that grey market premiums (G

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