Three unicorns to announce $2-billion IPOs next week

Groww, Pine Labs and Physics Wallah to launch public offers

- NESIL STANEY

THE INITIAL PUBLIC offering (IPO) market is set fora flurry of activity next week, with at least three unicorns — Groww, Pine Labs and Physics Wallah — expected to announce their issues which will collectively raise around 17,000 crore.

Groww, India’s largest brokerage by clients, is expected tomop up about %7,000 crore, including %5,940 crore through an offer for sale (OFS). Fintech unicorn Pine Labs plans to raise over ~6,180 crore following a scale-down in size, while edtech firm Physics Wallah is looking to mobilise around $3,820 crore.

Adding to the action, eye-wear retailer Lenskart’s %7,278-crore issue will close for public bids on November 4. Together, these offerings will be worth at least %24,278 crore, with several smaller IPOs also lined up during the week, investment bankers said.