Stock Market
Stock market: Sensex, NIFTY open slow; Lenskart IPO unveiled for subscription
Mumbai/IBNS: Sensex and NIFTY opened slower at the opening bell of the Indian stock market on the last day of weekly trading on Friday.
At the opening bell, BSE Sensex fell by 95 points to 84,310 while NIFTY tanked by 29 points to 25,849.
Asian Paints, Tata Steel, HDFC Bank, Axis Bank, ICICI Bank, Sun Pharma and Adani Ports were among the shares that were in red.
The Nifty midcap index went up by 0.08% and Nifty smallcap index was shot up by 0.35%.
Amid the regular trading, the new listing of Lenskart's mainboard IPO has been unveiled for subscription.
As per reports, the stock is likely to be listed on both the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) on November 10.
Market Guru Anil Singhvi said on Zee Business that the risk-taking, aggressive investors can apply for the long term.
Singhvi expected the company to produce healthy profits within the next two-three years.
The price band has been set at ₹382 to ₹402 per share.
The total size of the issue is about ₹7,278 crore at the upper band.
At the upper end of the band (₹402), the company is valued at around ₹70,000 crore (≈ US$7.9 billion).
Grey market premium (GMP) before listing: at one point ~₹70 per share above issue price (~17%). Later reports show the premium easing to ~11%.
Lenskart is a technology-driven eyewear retailer — designs, manufactures, and retails prescription glasses, sunglasses, contact lenses.
It has a broad retail footprint: over 2,700 stores globally as of FY25.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
