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6 hours ago
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Nov 08, 2025, 11:10:10 AM IST
The IPO frenzy continues to grip Dalal Street as three of India’s most talked-about new-age companies -- Lenskart, PhysicsWallah, and Groww -- prepare for listing. Grey market trends suggest that next week’s listings could deliver returns ranging from 4% to as high as 22%, depending on investor sentiment and market momentum.
Here’s a look at the week’s key IPOs and what the grey market is indicating:
ETMarkets.com
2/7
Tenneco Clean Air IPO - GMP Rs 87 (22% premium)
Automotive systems supplier Tenneco Clean Air India leads the pack with a robust Rs 87 GMP, implying a 22% premium over its issue price of Rs 397.
ETMarkets.com
3/7
PhysicsWallah IPO - GMP Rs 5 (5% premium)
The edtech unicorn PhysicsWallah, India’s first profitable online learning startup to go public, is commanding a modest Rs 5 premium over its issue price of Rs 109. The Rs 3,480 crore IPO opens on November 11 and will list on November 18.
ANI
4/7
Emmvee Photovoltaic IPO - GMP Rs 20 (9% premium)
Solar panel manufacturer Emmvee Photovoltaic Power is seeing healthy grey market traction, trading at a Rs 20 premium or roughly 9% above its issue price of Rs 217. The company aims to raise Rs 2,900 crore, with proceeds earmarked for capacity expansion and working capital.
ETMarkets.com
5/7
Groww IPO - GMP Rs 5 (5% premium)
Retail investing platform Groww, which recently closed its Rs 6,632 crore IPO, has a GMP of Rs 5, implying a 5% listing gain over the issue price of Rs 100. Despite high valuations, strong institutional demand (17.6x subscription) reflects investor confidence in the company’s long-term fintech play.
ETMarkets.com
6/7
Lenskart Solutions IPO - GMP Rs 17 (4% premium)
Eyewear retailer Lenskart, whose Rs 7,278 crore IPO was subscribed 28 times, is trading at a GMP of Rs 17, translating to an expected 4% listing gain. The IPO had seen heavy institutional demand, but valuation concerns have kept expectations muted.
Agencies
7/7
SME highlights - Select traction but muted premiums
Among the SME pack, Curis Lifesciences is showing the best momentum with a Rs 7.5 premium (6% upside), while Shining Tools is trading at Rs 7 (6%). Others like Mahamaya Lifesciences and Workmates Core2Cloud currently show no major grey market activity, reflecting selective investor interest.
ETMarkets.com
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