Lenskart IPO vs Groww IPO: The initial public offerings (IPOs) of Lenskart and Groww are in focus today, with the eyewear company concluding its subscription today, while Billionbrains Garage Ventures, the parent company of broking firm Groww, has launched its share sale.
The Lenskart IPO successfully sailed through on the first day of bidding, while the Groww IPO is gaining traction on the initial bidding day, driven by interest from retail investors, whose portion was fully subscribed.
Lenskart IPO and Groww IPO are two of the most eagerly awaited listings of the year, showcasing contrasting aspects of India’s consumer technology development — retail eyewear and financial technology investment.
Groww’s share sale aims to gather around ₹6,600 crore, targeting a valuation of nearly ₹62,000 crore. The platform’s size and profitability — with an expected profit of about ₹1,800 crore for FY25 — make it a rare example of a profitable fintech.
Lenskart IPO is expected to raise around ₹7,278 crore at a valuation of nearly ₹70,000 crore. The company’s strong anchor response underscores investor faith in its omnichannel model and brand recall. Its consistent revenue growth, expanding retail footprint, and improving margins add to its appeal, as per experts.
Lenskart IPO vs Groww IPO: Which one to apply for?
According to Harshal Dasani, Business Head, INVasset PMS, between the two, Lenskart IPO offers a pure-play consumption story with long-term brand potential, while Groww IPO provides exposure to India’s digital-finance boom with a tested business model.
For investors seeking stability amid the current IPO rush, Groww’s earnings visibility and operational efficiency appear more reassuring, whereas Lenskart suits those willing to bet on high-growth consumer brands despite rich valuations, he said.
Abhinav Tiwari, Research Analyst at Bonanza, said that at the proposed valuation of Rs. 69,726 Cr, Lenskart trades at around 535× its normalised FY25 earnings, which looks difficult to justify.
“Revenue growth has already slowed to 17% in FY25 from 46% a year ago, while operating expenses remain high. A large portion of the IPO also involves existing investors selling their shares, which may signal limited short-term confidence. Given these factors, we may witness a post-IPO correction in Lenskart’s share price as valuations appear stretched relative to its earnings profile,” opined Tiwari.
In contrast, he finds that Groww operates an asset-light, fully digital business model with minimal incremental costs and high scalability. However, Groww is also not without its risks, as over 84% of its revenue comes from broking, making it vulnerable to market volatility and retail investor sentiment.
Yet, he finds Groww’s long-term prospects as strong. “With increasing digital adoption and low demat penetration in India, Groww stands to benefit from structural tailwinds. Lenskart, meanwhile, operates in a more mature retail category where most of the market is unorganised, and sustaining growth will require innovation, cost discipline, and brand strength,” Tiwari added.
Let’s take a closer look at the trends in grey market premiums and insights from experts.
Lenskart IPO GMP today
Lenskart IPO GMP today is ₹56. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Lenskart is indicated at ₹458 apiece, which is 13.93% higher than the IPO price of ₹402.
Analysing the last nine sessions of grey market activities, the current GMP stands at ₹56, suggesting a potential downward trend. It’s interesting to note that the lowest GMP recorded during this period is ₹48.00, while the highest has reached ₹108.
Groww IPO GMP today
Groww IPO GMP today is ₹17. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Groww shares is indicated at ₹117 apiece, which is 17% higher than the IPO price of ₹100.
Based on the grey market trends observed over the past seven sessions, the current IPO GMP is showing an upward trajectory, indicating a strong listing. The lowest GMP is recorded at ₹10.00, while the highest GMP is noted at ₹17, as per analysts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
