Lenskart and Groww IPOs: A Tale of Two Tech Giants in the Grey Market
Lenskart Solutions and Billionbrains Garage Ventures (Groww) are launching major IPOs in India, collectively aiming to raise nearly Rs 14,000 crore. Lenskart's IPO concluded with 28.26 times oversubscription, while Groww's remains open. Grey market premiums indicate positive investor sentiment, with Lenskart at 11.19% and Groww at 14.75% potential listing gains. Lenskart's allotment is expected on November 6 with listing on November 10, while Groww's tentative dates are November 10 for allotment and November 12 for listing.
*this image is generated using AI for illustrative purposes only.
The Indian IPO market is buzzing with activity as two major tech companies, Lenskart Solutions and Billionbrains Garage Ventures (Groww), vie for investor attention. These IPOs collectively aim to raise nearly Rs 14,000 crore, marking a significant moment in the Indian capital markets.
IPO Details and Subscription Status
| Company | IPO Size | Fresh Issue | Offer-for-Sale | Subscription Status | Price Band |
|---|---|---|---|---|---|
| Lenskart Solutions | 7,278.02 | 2,150.00 | 5,128.02 | 28.26 times oversubscribed | Rs 402 |
| Groww (Billionbrains Garage Ventures) | 6,632.30 | 1,060.00 | 5,572.30 | Ongoing (Open until Friday) | Rs 100 (upper band) |
Lenskart's IPO concluded with an impressive 28.26 times oversubscription, indicating strong investor interest. Meanwhile, Groww's IPO remains open until Friday, giving investors more time to participate.
Grey Market Performance
The grey market, often considered an indicator of potential listing gains, shows promising signs for both IPOs:
| Company | Grey Market Premium | Potential Listing Gains |
|---|---|---|
| Lenskart | 45.00 | 11.19% |
| Groww | 14.75 | 14.75% |
These premiums suggest positive investor sentiment towards both offerings, with Groww currently showing a slightly higher potential return based on grey market trends.
Key Dates
| Company | Allotment Date | Listing Date |
|---|---|---|
| Lenskart | November 6 | November 10 |
| Groww | November 10 (Expected) | November 12 (Expected) |
Investors should mark these dates as they await the finalization of share allotments and subsequent listings on the stock exchanges.
Market Implications
The strong performance of these IPOs in the grey market and the oversubscription of Lenskart's offering indicate robust investor appetite for tech-focused companies in India. This trend could potentially pave the way for more tech startups to consider going public in the near future.
As these companies prepare to list, market participants will be keenly watching their performance, which could set the tone for upcoming IPOs in the Indian market. The success of these offerings may also reflect growing investor confidence in India's digital economy and its potential for long-term growth.
Investors are advised to conduct thorough research and consider their risk appetite before making investment decisions. While grey market premiums can be indicative, they do not guarantee listing day performance or long-term stock value.
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