Lenskart IPO Anchor Book Attracts Rs 68,000 Crore Bids, Nearly 10 Times Issue Size

Lenskart Solutions' anchor book has witnessed an overwhelming response, securing bids totaling Rs 68,000 crore. This figure is nearly 10 times the issue size and 20 times the size of the anchor book itself, indicating exceptionally high investor appetite.

A significant aspect of this demand comes from foreign institutional investors (FIIs), who accounted for 52% of the book. This marks a notable return for FIIs to the Indian IPO market, which has been primarily led by domestic institutions over the last two years.

Prominent FIIs participating in the anchor book include BlackRock, GIC, Fidelity, Nomura, and Capital International. On the domestic front, investors like State Bank of India, ICICI Prudential Mutual Fund, HDFC Bank, Kotak Bank, and Birla Mutual Fund also placed bids.

The anchor book, which is a portion of the total IPO reserved for large institutional investors before the public offering begins, attracted interest from over 70 top investors. The book is expected to be formalized later tonight.

Impact: The stellar performance of the anchor book suggests strong market confidence in Lenskart Solutions and its future prospects. This could lead to a successful IPO launch, potentially boosting investor sentiment for the company and the broader e-commerce or retail sector. Rating: 8/10.

Difficult Terms: Anchor Book: This is a portion of an initial public offering (IPO) that a company reserves for a select group of institutional investors before the general public is offered shares. It helps in price discovery and provides initial demand assurance for the IPO.