IPO GMP Today: Groww vs Lenskart; Which IPO Is Ruling The Grey Market Trends?

The initial public offerings (IPOs) of Lenskart Solutions Ltd. and Billionbrains Garage Ventures Ltd. (Groww) have drawn considerable interest among investors and market watchers. Dalal Street is witnessing a fight for investors' money in these two high-profile IPOs, together aiming to raise nearly Rs 14,000 crore.

While the mega issue of Lenskart concluded its subscription on Tuesday, the big-ticket IPO of Groww remains active this week. The subscription period for Groww IPO will conclude on Friday.

The grey market trends for both IPOs have been topping the 'Business & Finance' trending charts this week. Investors are closely monitoring the Grey Market Premiums (GMPs) to gauge market sentiment and assess the potential listing performance.

Here is a summary of the key details for the IPOs of Groww and Lenskart, including a comparison of their grey market premiums to see which IPO will lead to higher listing gains when thier shares debut on the stock market next week.

The grey market premium for the Lenskart Solutions IPO was Rs 45 apiece, on Thursday. With a price band of Rs 402, the estimated listing price is Rs 447, implying an expected listing gain of 11.19% per share.

This means investors can expect a potential gain of upto 11-12% when the shares debut on the market next week.

The current GMP marks a decrease compared to Monday, when it stood at Rs 59, indicating nearly 15% potential returns.

The highest GMP recorded for the IPO was Rs 108 on October 27.

The Grey Market Premium (GMP) for the Billionbrains Garage Ventures IPO (Groww IPO) was Rs 14 per share on November 6. This indicates a listing price of Rs 114 per share, a premium of 14% over the upper limit of the price band.

This means the unlisted shares of Groww were trading at Rs 114 per share in the private market. If the GMP is sustained, investors can expect gains of 14% when Billionbrains Garage Ventures debuts on the market next week.

The grey market premium for the mainboard offer has decreased over the last few days. The lowest GMP recorded for the Groww IPO was Rs 10 on October 28; this subsequently rose to Rs 15 on October 30 and 16.5 on November 3.

Note: GMP does not represent official data and is based on speculation. GMP data is sourced from InvestorGain.

The Billionbrains Garage Ventures IPO (Groww IPO) is a book-building issue worth Rs 6,632.3 crore. It comprises a fresh issuance of 10.6 crore shares, worth Rs 1,060 crore, and an offer-for-sale (OFS) of 55.72 crore shares, amounting to Rs 5,572.3 crore.

The price band for the IPO has been fixed between Rs 95 and Rs 100 per share.

To participate in the IPO, retail investors need to bid for a single lot size of 150 shares, requiring an investment of Rs 15,000. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,10,000. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,05,000.

The IPO was booked 0.57 times on Day 1, with investors bidding for 20,63,07,150 shares against the 36,47,76,528 on offer.

Kotak Mahindra Capital Ltd. is the book running lead manager and MUFG Intime India Pvt. is the registrar of the issue.

The bankers handling the offer include JPMorgan, Kotak Mahindra Capital, Citigroup, Axis Capital, and Motilal Oswal.

The subscription window for the Groww IPO will remain open till November 7. The share allotment status for the IPO is expected to be finalised on November 10. The shares of Billionbrains Garage Ventures Ltd. are tentatively scheduled to be listed on the BSE and NSE on November 12.

The Lenskart Solutions IPO is a book-built issue worth Rs 7,278.02 crore. It includes a fresh issue of 5.35 crore shares, worth Rs 2,150 crore, and an offer-for-sale (OFS) of 12.76 crore shares, amounting to Rs 5,128.02 crore.

The IPO price band was fixed at Rs 382 to Rs 402 per share. Each lot size consisted of 37 shares, entailing retail investors to invest at least Rs 14,134 to participate in the IPO.

The initial public offering of Lenskart Solutions Ltd. was subscribed 28.26 times on its third and last day of bidding on Tuesday. According to BSE data, the Rs 7,278.02-crore IPO received bids for 2,81,88,45,777 shares against 9,97,61,257 shares on offer.

The allotment status for the Lenskart Solutions IPO will be finalised on Thursday, November 6, and the company will likely list on the BSE and the National Stock Exchange on November 10.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.