Sign In
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
Despite a public holiday, the Initial Public Offering (IPO) market has seen significant activity, with Lenskart Solutions and Billionbrains Garage Ventures (Groww) attracting substantial investor interest.
Lenskart’s ₹7,278-crore IPO concluded with a massive oversubscription of more than 28 times on its final bidding day. The issue, priced between ₹382 and ₹402 per share, attracted bids for over 281 crore shares against approximately 10 crore shares on offer.
Lenskart aims for a valuation of nearly ₹70,000 crore and plans to utilise the proceeds for store network expansion, technology, brand marketing, and potential acquisitions. Lenskart is scheduled to debut on the stock market on November 10th.
Concurrently, the IPO of Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, commenced with a solid start. It achieved a 57% subscription rate on its opening day, primarily driven by strong retail investor participation.
This ₹6,632-crore issue, with a price band of ₹95 to ₹100 per share, values Groww at over ₹61,700 crore. Backed by prominent investors such as Peak XV, Tiger Capital, and Satya Nadella, Groww is set to list on November 12th.
