Lenskart IPO Oversubscribed 28x, Groww IPO Sees Strong Retail Interest on Day 1
Lenskart Solutions' ₹7,278 crore IPO closed with 28.26 times oversubscription, with QIBs subscribing 40.35x, NIIs 18.23x, and retail investors 7.54x. The offering included a fresh issue of ₹2,150 crore and an OFS of 12.75 crore shares. Groww's parent company, Billionbrains Garage Ventures, launched a ₹6,632.3 crore IPO, achieving 57% overall subscription on Day 1, with retail investors subscribing 1.91 times their allocation. Groww's IPO includes a fresh issue of ₹1,060 crore and an OFS of ₹5,572.30 crore.
*this image is generated using AI for illustrative purposes only.
In a display of robust investor interest, two prominent Initial Public Offerings (IPOs) have captured the market's attention. Lenskart Solutions, the eyewear retailer, concluded its IPO with significant oversubscription, while Groww, the fintech platform, saw a strong start on its first day of bidding.
Lenskart IPO: A Clear Vision of Success
Lenskart Solutions' ₹7,278 crore IPO closed with an impressive 28.26 times oversubscription, demonstrating strong investor confidence across various categories:
| Investor Category | Subscription Rate |
|---|---|
| Qualified Institutional Buyers | 40.35x |
| Non-Institutional Investors | 18.23x |
| Retail Investors | 7.54x |
The eyewear retailer's offering comprised a fresh issue of ₹2,150 crore and an offer-for-sale of 12.75 crore shares, with a price band of ₹382-402 per share.
Groww IPO: Cultivating Retail Interest
Billionbrains Garage Ventures, the parent company of Groww, launched its ₹6,632.3 crore IPO with promising initial results:
- Overall Subscription: 57% on Day 1
- Retail Investor Subscription: 1.91 times their allocation
The fintech company's IPO structure includes:
- Fresh issue of ₹1,060 crore
- Offer-for-sale of ₹5,572.30 crore
- Price band: ₹95-100 per share
Market Sentiment and Analyst Views
While Lenskart's oversubscription indicates strong market confidence, opinions on Groww's offering are mixed among brokerages:
- Positive Outlook: Some analysts highlight Groww's growth prospects in the fintech sector.
- Cautionary Stance: Others point to steep valuations, noting a post-issue P/E ratio of 40.79x.
The contrasting reception of these IPOs reflects the diverse landscape of India's primary market, with investors showing enthusiasm for both established retail brands and emerging fintech players.
As the IPO market continues to evolve, these offerings provide valuable insights into investor preferences and sector-specific trends in the current economic climate.
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