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All eyes are on eyewear company Lenskart after it opened its highly anticipated Rs 7,278-crore initial public offering (IPO) for subscription on October 31. Actor Soha Ali Khan recently shared a video on social media in which she broke down the Lenskart IPO in simple terms and urged her followers to be cautious with their investments. The actor is a graduate from London School of Economics and used to work in finance before she switched careers.
The caption of the video on Instagram read, “Financial literacy isn’t just about saving or investing, it’s about making informed choices when opportunities like these arise.” In the video, she said, “Apart from the rain, everyone is talking about the Lenskart IPO. The very cool glasses and lenses brand, and some of you may want to invest. But, fresh off my lesson in money management from Radhika Gupta, I want to quickly break down this investment opportunity.”
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Soha then broke down for her fans what an IPO really means. “An IPO or initial public offering is when a private company sells it shares to the public for the first time. Basically it’s saying, ‘Hey, now you can own a tiny piece of our company.’ In the case of this company you can buy a share and not just their glasses.”
She listed the pros and cons regarding the IPO in question and said, “So the buzz is huge and it is backed by big investors. What is good about it? It’s a strong brand, it’s a growing business and it’s a chance to be an early part of a well known Indian company’s story. But there’s a flipside. The IPO is expensive compared to the current profits. Some of the money is going to the existing investors who are looking to cash out. Like any investment it is not a guaranteed win. Is it good or bad? That really depends on you. If you believe in the brand long term, then great. But if you’re hoping to get rich by next Friday, but then maybe have another think.”
Lenskart IPO allotment began on October 31 and will conclude on November 4. The IPO comprises a fresh issue of Rs 2,150 crore and an offer for sale (OFS) worth Rs 5,128 crore by existing shareholders and promoters. The price band has been set at Rs 382–Rs 402 per share, with a lot size of 37 shares. Retail investors can start with a minimum investment of Rs 14,874 and can apply for up to 13 lots (481 shares), amounting to Rs 1.93 lakh. The basis of allotment will be announced on November 6, and the shares are likely to be listed on both BSE and NSE on November 10.
Lenskart was co-founded in 2008 by Amit Chaudhary and current CEO Peyush Bansal. The company boasts over 3000 employees.
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