Lenskart Listing on Nov 10, Groww IPO Closes Today The Lenskart IPO allotment was finalised on November 6. The offering was open for subscription between October 31 to November 4, closed at 28.26 per cent subscription. The Groww IPO has entered its Day 3 of subscription, with the IPO closing today.

The Lenskart IPO allotment was finalised on November 6. The offering was open for subscription between October 31 to November 4, closed at 28.26 per cent subscription. The stocks are poised to get listed on 10 November, both on the Bombay Stock Exchange and the National Stock Exchange.

The listing's price band was set at INR 382-402 per share, with the grey market price coming down to 11 per cent. While market experts believe otherwise, Ronnie Screvwala, co-founder of UpGrad and an early investor in Lenskart, said that with the current listing price being at USD 8 billion, he would "eat his hat" if the company valuation didn't reach the USD 15 billion within the next year, reported Indian Startup News.

Experts, however, differ on this opinion, with veteran investor Vijay Kedia pointing out that Lenskart's valuation looks expensive. Sandip Sabharwal of Asksandipsabharwal.com said, "The value of the Lenskart stock is not more than 25 per cent of the offer price. That's where it should ultimately settle. However, in terms of timing, it is uncertain," as reported by the Financial Express.

The IPO is being managed by a group made up of Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services.

Groww IPO

The Groww IPO has entered its Day 3 of subscription, with the IPO closing today. The IPO's price band is fixed between INR 95-100 per share. The investors applying for allotment will need to buy lots of 150 shares, a minimum investment of INR 15,000 at the upper end of the price band.

The allotment will be finalised on Monday.

The total issue size is INR 6,632.30 crore, out of which Groww is looking to raise INR 1,060 crore through a fresh issue. The remaining shares will be sold by its existing investors through an offer for sale (OFS), with shareholders such as Tiger Global, Kauffman Fellows Fund, Y Combinator, and Peak XV Partners offloading their shares.

Market outlook

Bajaj Broking said that Indian markets ended mostly flat on November 7th , as a volatile session saw buyers and profit-takers offset each other.

"The index opened weak with a gap-down start but took support near its 50-day EMA. It quickly bounced back from intraday lows and filled the opening gap, yet struggled to hold gains at higher levels, eventually closing around the 25,500 zone," said Bajaj broking.