Shares of Lenskart made a muted debut on the indian stock Market. The company recently launched its IPO. There was lot of noise around this IPO. Lenskart is a technology driven indian eyewear company that designs, manufactures, and retails a wide range of products, including eyeglasses, sunglasses, and contact lenses. As said There was lot of buzz around its IPO. However, the shares were listed at a discount of 1.74%. The company shares were offered at Rs.402 in the IPO but it was listed onlt at Rs.395.
There was a mixed reaction by the different category of investors at the time of IPO. While the retail investors were ahowing their interest to invest the experts were completelly against subscribing the IPO. There is no genuine source of their profits. When the #lenskart IPO was launched, it was fully subscribed on Day 1. Sending a strong signal to all the retail investors. Looking at the subscription craze, many investors were feeling that, if they made a mistake of not applying?
But here is how I see it. Such instances happened earlier as well. History always leaves some traces to make the story clear and same happens with the IPO. Many previous companies IPO like #ola, #paytm, #nykaa #swiggy #zomatto etc were all fully subscribed on day 1 of IPO. There was a huge craze and buzz. People were desperate to get allotment so that they could make some instant profit. However, today we can see how all those IPO were standing right now. All the hype around these stocks were now cooled down. Only few shares likes of #zomato were able to rise after the fall, because it foussed on profits and growth and not just hype.
It reminded me of old saying of Warren buffet. He said once ;
Stocks are slaves of earning
So be a smart investors and follow the earning. Ignore all the hype around the company, and never regret resisting FOMO (Fear Of Missing Out). If we are resisting FOMO we are already doing better than most. Belive in the wisdom.
In good faith - Peace!!
