IPO GMP Today: Groww Vs Lenskart; Which IPO Leads Grey Market Trends? All You Need To Know

Primary market investors are witnessing a high-activity day on Tuesday, November 4, as one major Initial Public Offering (IPO) concludes its bidding and another mega public issue opens for subscription.

The mainboard IPO of Lenskart Solutions Ltd., which launched its public issue on October 31, is concluding its three-day subscription process on Tuesday. Simultaneously, Billionbrains Garage Ventures Ltd., the parent company of the online investment platform Groww, has launched its mega IPO for public bidding.

With these significant public issues on offer, 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 the latest grey market trends, issue size, price band, lot size, and important dates:

The grey market premium for the Lenskart Solutions IPO was Rs 60 apiece, as of 2:00 p.m. on Tuesday. With a price band of Rs 402, the estimated listing price is Rs 462, implying an expected listing gain of 14.93% per share. This marks a decrease compared to Friday, when the GMP stood at Rs 95, indicating nearly 24% potential returns.

The Grey Market Premium (GMP) for the Billionbrains Garage Ventures IPO (Groww IPO) was Rs 17.25 per share as of 2:00 p.m. on November 4. This indicates a listing price of Rs 117.25 per share, which is a premium of 17.25% on the upper limit of the price band.

The grey market premium for the mainboard offer has increased 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.

Also Read: Lenskart Vs Groww IPO: What Should You Bet On?

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 has been fixed at Rs 382 to Rs 402 per share. Each lot size consists of 37 shares, entailing retail investors to invest at least Rs 14,134 to participate in the IPO.

Similarly, small NIIs can apply for a minimum of 14 lots (518 shares), amounting to Rs 2,08,236 investment at the upper end. Meanwhile, big NIIs can apply for at least 68 lots, requiring an investment of Rs 10,11,432 at the upper price end.

The IPO was booked over 15 times on Tuesday.

The mainboard issue will remain open for subscription till November 4. The share allotment status for the Lenskart IPO is expected to be finalised on Thursday, November 6. Shares of Lenskart Solutions will be listed on the NSE and BSE, on November 10.

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.

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 IPO was booked over 0.46 times on Tuesday.

The subscription window for the Groww IPO will remain open from November 4 to 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.

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.