Overview
- By 2:25 pm on day one, bids covered about 38% of shares on offer, with the retail tranche at 1.51 times, NIIs at 0.38 times, and the QIB bucket yet to see bids.
- The Rs 6,632.30 crore offer is priced at Rs 95–100 per share with a lot size of 150, runs November 4–7, and comprises a Rs 1,060 crore fresh issue plus a Rs 5,572.30 crore offer-for-sale.
- Ahead of opening, Groww allotted about 29.9 crore shares at Rs 100 to raise Rs 2,985 crore from anchors that included SBI Mutual Fund, Peak XV, Dragoneer, Coatue, Norges Bank, ADIA and GIC.
- The net offer allocates 75% to QIBs, 15% to NIIs and 10% to retail; allotment is slated for November 10 with a tentative listing on the BSE and NSE on November 12.
- Pine Labs fixed a Rs 210–221 band for its November 7–11 IPO, while Lenskart’s issue closed with strong demand, with subscriptions reported as high as 6.86 times and a healthy grey-market premium.