The listing of Lenskart Solutions Ltd. will be in focus as investors await the company's debut on the stock market today.
Shares of Lenskart Solutions Ltd. will list on the BSE and NSE on Monday, November 10, and ahead of its listing there are mixed sentiments around the debut of the technology-focused eyewear company.
Despite the Lenskart Solutions IPO closing with an overwhelming 28.27 times subscription, the Grey Market Premium (GMP), an unofficial barometer of listing expectations, has slid sharply from a high of Rs 95 to just Rs 9. The GMP for the mainboard offer has declined significantly (as much as 90%) since the IPO opened for subscription on October 31.
ALSO READ: Lenskart Share Price LIVE: Pre-Open Price At Rs 395 On NSE, Rs 390 On BSE
This significant volatility in the unlisted market, which now suggests a modest listing gain of around 2.49% over the Rs 402 price band, reflects cautious sentiment among traders, with concerns over the company's rich valuation ahead of its market debut on November 10.
The current GMP still indicates positive listing gains for investors, with market estimates suggesting a moderate premium over the issue price.
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 share allotment status for the Lenskart Solutions IPO was finalised on Thursday, November 6. Successful bidders were allotted the shares to be on Friday, November 7.
Here's a look at what the latest market trends indicate for the Lenskart Solutions IPO.
Lenskart IPO Latest GMP
The Grey Market Premium (GMP) for the Lenskart IPO was Rs 10 as of 7:30 a.m. on November 9. This indicates a potential listing price of Rs 412 (Rs 402 + Rs 10) per share, representing a premium of 2.49% over the upper limit of the price band.
Note: GMP is not an official source of data and is based on speculation. GMP data sourced from Investorgain.
Lenskart Solutions IPO Key Details
The IPO of the technology-focused eyewear company was 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.
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.
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