Lenskart Solutions IPO: Check application status, odds of allotment, latest GMP & more

Lenskart Solutions is scheduled to finalize the basis of allotment of its shares on Thursday, November 06. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Friday, November 07. The omnichannel eyewear retailer saw a strong response from the investors during the bidding process.

The IPO of Lenskart Solutions was open for subscription between October 31-November 04. It had offered its shares in the price band of Rs 382-402 per share with a lot size of 37 shares. The company raised a total of Rs 7,278.02 crore from its IPO, which included a fresh share sale of Rs 2,150 crore and an offer-for-sale (OFS) of up to 12,75,62,573 equity shares.

The issue was overall subscribed a total of 28.26 times, fetching more than 32.56 lakh applications, attracting bids over Rs 1.13 lakh crore. The portion for qualified-institutional bidders (QIBs) was subscribed 40.35 times, while non-institutional investors (NIIs) quota was booked 18.23 times. The allocation for retail investors and employees were subscribed 7.54 times and 4.95 times, respectively.  

Based on the bidding, here are the odds of allotment for IPO of Lenskart Solutions:

• Big HNI category: 3 investors out of 13 investors will get 518 shares (Probability: 23.08 per cent)
• Small HNI category: 2 investors out of 21 investors will get 518 shares (Probability: 9.52 per cent)
• Retail category: 1 investor out of 6 investors will get 25 shares. (Probability: 16.67 per cent)  

The grey market premium (GMP) of Lenskart Solutions has seen a sharp correction despite getting bids over Rs 1 lakh crore. Last heard, the company was commanding a premium of Rs 40-45 in the unofficial market, suggesting a listing pop of 11-12 per cent for the investors. The GMP stood around Rs 85-90 a day ago.

Established in 2008, Lenskart Solutions is a technology-focused eyewear company involved in the design, manufacturing, branding, and retail of prescription eyeglasses, sunglasses, contact lenses, and accessories. Operating under a direct-to-consumer model, it offers a broad range of eyewear under its own brands and sub-brands, catering to all age groups and price segments.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are the lead managers for the issue, while MUFG as registrar. Refund initiations and credit of shares is likely to be done by Friday, November 07. Shares of the company shall be listed on both BSE and NSE on November 10, Monday.

Investors, who had bid for the issue of Lenskart Solutions, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Lenskart Solutions Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button
7. Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1. Go to the web portal of MUFG Intime India Limited
2. Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.