Lenskart IPO vs Groww IPO GMP Compared — Check Latest Grey Market Trends
The latest grey market premium trends suggest that the shares of Lenskart Solutions and Billionbrains Garage Ventures (Groww) are currently trading at a premium to their respective IPO price bands.
Primary market investors will continue to monitor the ongoing mainboard initial public offerings (IPOs) this week, including the Rs 7000+ crore Lenskart Solutions issue, which was launched on Friday. Investors will also look forward to another bumper IPO, that of Billionbrains Garage Ventures (Groww), which will open for subscription on Tuesday, November 4.
With these mega IPOs on offer, investors are keeping a close watch on the grey market premiums (GMP) to gauge market sentiment and assess the potential performance of the offerings.
Here's all you need to know about the IPOs of Groww and Lenskart, including the latest grey market trends, issue size, price band, lot size, and important dates.
Lenskart Solutions IPO GMP Today
The grey market premium for the Lenskart Solutions IPO was Rs 65 apiece, as of 2:00 p.m. on Monday. With a price band of Rs 402, the estimated listing price is Rs 467, implying an expected listing gain of 16.17% per share. This marks a decrease compared to Friday, when the GMP stood at Rs 95, indicating nearly 24% potential returns.
Groww IPO GMP Today
The Grey Market Premium (GMP) for the Billionbrains Garage Ventures IPO (Groww IPO) was Rs 14.5 per share as of 2:00 p.m. on November 3. This indicates a listing price of Rs 114.5 per share, which is a premium of 14.5% on the upper limit of the price band.
The grey market premium for the mainboard offer had 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.
Note: GMP does not represent official data and is based on speculation. GMP data is sourced from InvestorGain.
Lenskart Solutions IPO: Key Details
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 close to 2 times on Monday.
Lenskart Solutions IPO Important Dates
The mainboard issue will remain open for subscription till November 4. The share allotment status for 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.
Groww IPO: Key Details
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.
Groww IPO Important Dates
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.
