Ambit Capital had issued a 'Sell' call on Lenskart shares, even before the stock made its much-anticipated market debut. This is a rare occasion when a brokerage issued a ‘Sell’ call on a stock even before it hit the stock markets.
Lenskart IPO share market debut was lower than the expectations in the grey market, which had expected a premium listing of about 2%.
The company, known for its point-of-sale (POS) solutions, payment processing, and merchant financing services, launched its Rs 3,900 crore IPO amid weak overall market sentiment.
Groww IPO Allotment Live: The IPO, open for subscription from November 4 to November 7, received an overwhelming response, with an overall subscription of 17.6 times, reflecting strong interest across all investor categories.
Seven companies will debut on the bourses this week, starting with eyewear maker Lenskart Solutions on November 10, Groww’s parent Billionbrains Garage Ventures on November 12, and Pine Labs on November 14.
On the NSE, Lenskart Solutions Ltd shares opened at Rs 395 apiece, 1.74% below the upper price band of Rs 402 per share.
Founded in 2017, NoPaperForms aims to build a unified, vertically-focused technology platform covering the whole spectrum of running an educational organization from student acquisition, student lifecycle, to student success and outcomes.
PhysicsWallah IPO | The company is preparing to launch its Rs 3,480-crore initial public offering (IPO), opening on November 11.
Fujiyama Power Systems IPO | The company is mobilising Rs 600 crore by issuing new shares, while promoters are offloading 1 crore equity shares via offer-for-sale.
InCred Holdings IPO | Shareholders approved for the IPO of the company on October 1 this year.
Capillary Technologies IPO | The company is raising Rs 345 crore via fresh shares, while promoter Capillary Technologies International, and investor Trudy Holdings will be selling over 92.28 lakh shares through offer-for-sale.
Lenskart and Groww will be listed on the secondary market. At least three new IPOs will open for subscription.
The company’s shares are proposed to be listed on stock exchanges on November 19.
Tenneco Clean Air India, part of the US-based Tenneco Group, has announced a price band of Rs 378–397 per share for its Rs 3,600-crore IPO.
Once the poster child of India’s digital payments boom, Pine Labs’ valuation cut maybe indicative of an inflection point for the sector from expansion to a search for steady, profitable growth
Lenskart IPO GMP: This comes despite the Rs 7,278-crore IPO seeing strong investor interest, being subscribed more than 28 times during its three days of public bidding.
Pine Labs IPO: Pine Labs has transitioned towards operating profitability, but it remains loss-making at the net level. Brokerages note the company's robust business, but are concerned about premium valuation of the public issue.
Pine Labs IPO GMP: The price band for the IPO has been set between Rs 210-221 per share, valuing the company at approximately Rs 25,377 crore at the upper end.
Groww shares will make stock market debut on November 12, while the allotment of shares is expected by November 10.
Experts recommended that investors may consider holding the stock from a long-term perspective depending on their risk appetite.
The Rs 3,899.91 crore public issue includes a fresh issue of shares worth Rs 2,080 crore and an offer for sale (OFS) amounting to Rs 1,819.91 crore.
The Qualified Institutional Buyers (QIBs) category led the rally with 18.10x subscription
Pine Labs IPO: The Rs 3,900-crore initial share sale is the combination of fresh issue of Rs 2,080 crore and an offer-for-sale of 8.23 crore shares worth Rs 1,820 crore by existing shareholders.
Studds Accessories shares will be listed on both the National Stock Exchange (NSE) and the BSE on November 7
Denmark-headquartered Carlsberg entered the Indian market in 2007
