India, Nov. 10 -- Lenskart Solutions Ltd. listed at a discount today, underscoring the investor concerns over the pricey valuations of India's largest eyewear retailer. Since then, however, the stock has trade volatile on debut.

The Lenskart share price fell as much as 11.51% from its IPO price of Rs.402 apiece to Rs.355.70, before recouping all its losses to hit an intraday high of Rs.413.80. The stock listed at a discount of 2.98% at Rs.390.

The three-day Lenskart IPO was subscribed 28.27 times, despite a price-to-earnings ratio of 238:1-meaning, the company wants its investors to pay Rs.238 for every rupee earned. The QIB portion received 40.36 times demand, reflecting confidence in the company's business model. The retail-investor p...