Lenskart lists flat after volatile debut; valuation debate lingers

Eyewear retailer Lenskart, whose rich valuation polarised investor opinion ahead of its initial public offering (IPO), made a choppy debut on the bourses on Monday, ending the day with marginal gains.

- SUNDAR SETHURAMAN

The stock opened at %390, a 3 percent discount to the issue price of $402, and slid as much as 12 percent in early trade.

It later rebounded to hit an intraday high of %413.8 — up 3 per cent from the issue price — before settling at %403.3, a muted 0.3 per cent gain over the IPO price.

The SoftBank-backed company closed its first session with a market capitalisation of %69,967 crore.