From Lenskart to Orkla — Dalal Street gears up for another billion dollar IPO week

Dalal Street is gearing up for another week of billion-dollar IPOs, led by Lenskart and MTR-parent Orkla India. Together, the three companies opening for subscription this week plan to raise nearly ₹9,500 crore.

Here's a look at the issues in greater detail:

Lenskart

The issue for the manufacturer of eyewear will open for subscription on Friday, October 31, and close on Tuesday, November 4.

The issue size is worth ₹7,278 crore, of which ₹2,150 crore is a fresh issue, while the remaining ₹5,128 crore will be an Offer For Sale (OFS). Price band for the issue has been fixed between ₹382 to ₹402 per share.

At the upper end of the price band, Lenskart will have a market capitalisation of close to ₹70,000 crore.

The stock will have a face value of ₹2 per share.

Only 10% of the issue is reserved for retail shareholders, who can bid for one lot of 37 shares, which will entail a minimum investment of ₹14,874.

Kotak Capital, Morgan Stanley India, Avendus Capital, Citigroup Global, Axis Capital, and Intensive Fiscal are the Book Running Lead Managers (BRLMs) of the issue.

Allotment of the issue will take place on November 6, while the stock will begin trading on November 10.

Orkla India

The IPO of MTR Foods' parent company will open for subscription on Wednesday, October 29 and close on Friday, October 31, the day Lenskart opens for subscription.

The issue is a complete offer for sale worth ₹1,667.5 crore, which means the company will not receive any proceeds from the same.

Price band for the IPO has been fixed between ₹695 to ₹730 per share. Eligible employees will have a discount of ₹69 per share.

At the upper end of the price band, the company is likely to have a market capitalisation of ₹10,000 crore.

35% of the issue is reserved for retail investors, who can bid for one lot of 20 shares, which will entail a minimum investment of ₹14,600.

ICICI Securities, Citigroup, JPMorgan, Kotak Capital are the Book Running Lead Managers for the issue. Allotment will take place on November 3, while the stock begins trading on November 6.

Studds Accessories

Helmet manufacturer Studds Accessories is the last one on the last. This IPO opens for subscription on Thursday, October 30, and closes on Monday, November 3.

The issue is relatively smaller in size compared to Lenskart and Orkla India, worth ₹455.5 crore, and is a complete Offer For Sale (OFS) as well, which means here too, the company will not receive any proceeds from the IPO.

Price band for the issue has been fixed between ₹557 to ₹585 per share. Every share will carry a face value of ₹5 each.

At the upper end of the price band, the company is likely to have a market capitalisation of ₹2,000 crore.

35% of the IPO is reserved for retail investors, who can bid for one lot of 25 shares with a minimum investment of ₹14,625 and then in multiples of 25 thereafter.

IIFL Capital and ICICI Securities are the Book Running Lead Managers for the issue. Allotment of shares will take place on November 4, while listing of the shares will take place on November 7.