Fund manager defends Lenskart IPO investment

IN AN UNUSUAL move for an Indian asset manager, DSP Asset Managers defended its purchase of shares in Lenskart Solutions’ initial public offering (IPO), following a social media furor over its valuations.

- CHIRANJIVI CHAKRABORTY

The asset management firm said in a post on X that it found Lenskart’s founders trustworthy and its business “strong and scalable” even as it called the valuation “expensive”. DSP invested ₹90 crore through its mid-cap equity fund as an anchor investor in the company’s $821 million offering, according to stock exchange data.