Mumbai, Nov 10 (NationPress) The eyewear retailer Lenskart Solutions Ltd had a lackluster debut on the stock exchanges today, despite notable investor enthusiasm for its ₹7,278 crore initial public offering (IPO). The company’s shares were introduced at ₹390 each on the BSE, reflecting a discount of approximately 3 percent compared to its issue price of ₹402, while they opened slightly higher at ₹395 on the NSE.

Shortly after the listing, the stock fell to an intra-day low of ₹355.70, marking a decline of over 9 percent from the issue price. Nonetheless, it experienced a strong recovery in the afternoon, soaring more than 15 percent from the day’s low to reach an intra-day high of ₹413.80.

By around 2 p.m., Lenskart's shares were trading near their IPO price at ₹404.55, which is a 0.6 percent increase from the listing price. In the meantime, domestic equity indices were performing well, with the Sensex at 83,630.53, up 414 points or 0.5 percent, and the Nifty at 25,615.85, gaining 122 points or 0.48 percent.

This IPO attracted significant attention this year, receiving a subscription rate of 28 times. Investors placed bids for 281.88 crore shares against the 9.97 crore shares available, based on exchange data.

The response was particularly strong from Qualified Institutional Buyers (QIBs), who subscribed 40.35 times the shares allocated to them, while non-institutional investors (NIIs) subscribed 18.23 times.

Retail investor interest remained robust despite the relatively high price range of ₹382–₹402 per share.

The public offering consisted of a fresh issue of shares valued at ₹2,150.74 crore and an offer for sale (OFS) amounting to ₹5,128.02 crore.

The subdued debut could be attributed to a cooling sentiment in the grey market, where the premium had fallen to roughly 2 percent before the listing, suggesting only marginal expectations for an upside. Despite the soft opening, Lenskart’s swift recovery during afternoon trading indicated ongoing investor interest in this rapidly expanding eyewear brand.