Orkla India, Studds, Lenskart IPO GMPs rise up to 18% as subscriptions underway; check key details

Orkla India, Studds, Lenskart IPO GMPs rise.

Premiums in the grey market for the ongoing initial public offerings (IPOs) of Orkla India, Studds Accessories and Lenskart rose up to 18 percent on Friday as subscription continued for all three issues.

According to market trackers, Orkla India’s grey market premium (GMP) stood at over 10 percent as the three-day share sale concludes today in the primary market.

The IPO of Orkla India Ltd, which owns packaged food brands MTR and Eastern, was fully subscribed on the second day of bidding on Thursday. Earlier, the company had raised around Rs 500 crore from anchor investors.

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Meanwhile, Studds Accessories Ltd’s IPO GMP increased to around 11 percent. The public issue of the helmet manufacturer was subscribed on the first day of bidding itself. On Wednesday, the company said it had mobilised nearly Rs 137 crore from anchor investors ahead of the issue opening.

The Rs 455-crore IPO closes on November 3. Studds has set a price band of Rs 557–585 per share, valuing the company at around Rs 2,300 crore at the upper end of the range.

As per data from platforms tracking grey market trends, the shares of Studds Accessories were quoting at a premium of about Rs 63 in the unofficial market, implying a listing gain of nearly 10.8 percent.

Meanwhile, the IPO of eyewear retailer Lenskart Ltd opened for public subscription on Friday. The Rs 7,278-crore issue has been priced in the range of Rs 382–402 per share, valuing the company at around Rs 70,000 crore at the upper band.

Lenskart’s shares were quoting with a grey market premium of 18.41 percent over the IPO price, according to data available on Investorgain. This has risen from 17.41 percent reported a day earlier and 11.94 per cent the previous day. IPO Watch, another platform tracking unlisted market activity, pegged the premium at around 11.45 percent.

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