Lenskart Solutions’ initial public offering (IPO) concluded on a robust note, with an overall subscription rate of 28.26 times by the end of the subscription period. This strong demand was largely driven by qualified institutional buyers (QIBs), who subscribed at 40.35 times, while retail investors showed interest at 7.54 times.
In contrast, the IPO for Groww, the parent company of Billionbrains Garage Ventures, garnered significant attention from retail investors. On its opening day, the ₹6,632.3 crore IPO attracted a subscription of 57 percent, predominantly led by retail bidders who oversubscribed their portion by 1.91 times. Non-institutional investors subscribed at 0.59 times, and QIBs displayed minimal interest at just 0.10 times.
Billionbrains is offering shares in the price band of ₹95-100, comprising a fresh issue worth ₹1,060 crore and an offer-for-sale amounting to ₹5,572.30 crore from promoters and other shareholder investors. The minimum lot size for investment is set at 150 equity shares. The company had previously raised ₹2,984.5 crore from 102 anchor investors, including the Government of Singapore, Abu Dhabi Investment Authority, and several leading domestic mutual funds.
Lenskart, meanwhile, had set a price band of ₹382-402 for its ₹7,278-crore IPO, which includes a fresh issue of shares valued at ₹2,150 crore and an offer-for-sale of 12.75 crore shares by promoters and other investors. The IPO was well received in the market, having already secured ₹3,268.36 crore from anchor investors at the upper price point of ₹402 per share.
The funds raised from Lenskart’s IPO are earmarked for strategic initiatives, which include capital expenditure for establishing new company-operated, company-owned (CoCo) stores across India and for payments related to leases, rentals, and licenses concerning these stores.
Brokerage opinions regarding the Groww IPO present a varying outlook. SBI Securities and Reliance Securities have recommended a ‘subscribe’ rating, highlighting the company’s leading position in digital broking and an expected industry growth rate of 14-16 percent CAGR through FY30. Anand Rathi has assigned a ‘subscribe for long-term’ rating, while Angel One has opted for a ‘neutral’ stance due to concerns regarding the steep valuation of 40.79 times post-issue price-to-earnings (P/E) ratio at the upper price band.
Published on November 4, 2025.
