Lenskart’s IPO saw shares recover from a soft start to close slightly above offer price, valuing the company at $8 billion. The heavily oversubscribed IPO raised $821 million, with Lenskart reporting a profit in fiscal year 2025. The company plans to use funds for expansion, technology, marketing, and potential acquisitions.

The Indian eyewear retailer’s IPO priced at ₹402, opened at ₹395, and closed at ₹404.55. Lenskart sought a valuation of $7.9 billion, sparking debate among investors. CEO Peyush Bansal defended the valuation, citing feedback from institutional investors. Existing investors, including SoftBank, sold shares in the IPO.

Lenskart’s listing is part of a trend of Indian startups entering the public market as late-stage venture funding tightens. Fintech firms Groww and Pine Labs, edtech platform PhysicsWallah, SaaS provider Capillary Technologies, and consumer brand BoAt are among those preparing for IPOs. Lenskart plans to use IPO proceeds for expansion, technology, and marketing.

Read more at Yahoo Finance: Lenskart recovers from tepid open to close first day slightly above IPO price