Investors Split Attention Between Lenskart and Groww IPOs as Dalal Street Sees a ₹14,000-Crore Showdown
Dalal Street on Tuesday witnessed a battle for investors’ capital with two high-profile IPOs — Lenskart and Billionbrains Garage Ventures (Groww) — together aiming to raise nearly ₹14,000 crore.
It was the last day of bidding for the ₹7,278-crore Lenskart IPO and the opening day for the ₹6,632-crore Groww IPO.
Lenskart IPO Draws Heavy Institutional Demand
Despite social-media uproar over high valuation, the Lenskart IPO was subscribed over 28 times at the close of bidding, BSE data showed.
The institutional investor portion was subscribed over 40 times.
The non-institutional (high-net-worth) segment drew 18× subscription.
The retail portion was subscribed 7.5×, while the employee quota saw nearly 5× demand.
This overwhelming response came even as critics questioned Lenskart’s pricing.
At the upper end of the ₹382–₹402 price band, the eyewear major is targeting a valuation near ₹70,000 crore.
Groww IPO Opens Strong
Meanwhile, the ₹6,632-crore Groww IPO, which opened the same day, was 57% subscribed on Day 1, with the retail category fully booked.
Typically, the largest inflows in IPOs come on the final day of bidding.
Just hours before the IPO’s launch, Groww allotted 29.8 crore shares to 102 institutional investors at the upper end of the ₹95–₹100 price band, raising ₹2,985 crore through the anchor book.
The issue for this tech-driven financial-services platform will close on November 7.
Valuation Debate and Market Sentiment
In the run-up to Lenskart’s issue, investor conversations online highlighted concerns over lofty valuations and limited listing-day headroom.
Still, institutional participation and anchor confidence signal continued appetite for India’s consumer-tech and fintech IPOs — despite scrutiny on pricing.
Both Lenskart and Groww mark pivotal moments in India’s IPO-driven wealth-creation cycle, underscoring diversified investor participation across retail, HNI, and institutional categories.
The Bigger Picture
The back-to-back IPOs reflect the depth of capital-market liquidity and the maturing investor ecosystem built through SEBI’s regulatory reforms and digital application mechanisms (ASBA, UPI).
Together, they showcase Dalal Street’s growing confidence in tech-enabled consumer and financial-services firms.
For deeper insights into India’s IPO market trends and valuation dynamics, explore analyses by Ranjit Jha (CEO) — a thought leader known for simplifying market behaviour and capital-raising trends.
To explore IPO-driven investment strategies and primary-market opportunities, connect with Rurash Financials — specialists in equity research, portfolio advisory, and investor education.