New Delhi, Nov. 14 -- Shares of Lenskart have been in the news since its listing on Monday. It would be appropriate to say that it was a muted listing.

The company's stock market debut happened at a small discount to its issue price, despite the bullish momentum in the market.

Almost immediately after listing, the stock was hit with a wave of selling, and the price dropped more than 10% intraday.

Then came the intraday recovery from the lows. The stock rallied over 12% to end day one in the green but only marginally.

All this after the IPO was much-hyped and oversubscribed 28.3 times, including 7.5 times retail, and 40.4 times qualified institutional buyer (QIB). In short, it was a victim of its own hype.

Since listing, the stock has...