Business Standard ·
Economy, business and finance
Thursday's listings: 6 IPOs take the stage in record debut-day rush
Five of the six companies ended above their issue prices, led by Karamtara Engineering, as a record number of mainboard firms listed on the stock exchanges in a day
Six companies made their stock market debut on Thursday, setting a record for the most mainboard listings on a single day since at least 1996. Four of the six made strong debuts, ending their debut session with gains of 18-32 per cent over their issue prices.
Karamtara Engineering closed at ₹351.95, up 38.6 per cent; RentoMojo at ₹532.95, up 31.9 per cent; Steamhouse India at ₹102.2, up 26.2 per cent; LCC Projects at ₹172.8, up 18.3 per cent; and Manipal Payment & Identity Solutions at ₹345.8, up 1.99 per cent over their respective issue prices, according to BSE data. Only Asset Reconstruction Company (India), or Arcil, ended in the red, down 1.4 per cent.
"There are many primary market offerings because, during the Middle East crisis, primary market activity was muted during April to June period. Many companies want to go public before the inauspicious period of Shradh begins from 27 September. Also, when financials are presented upto March, deadline is 30 September for IPO, so historically many companies rush to list in September," said Geetanjali Kedia, chief analyst, SP Tulsian Investment Advisory Services.
A Business Standard analysis of data from Capitaline and Prime Database showed that the previous record for the most single-day listings was on December 27, 2024, when five companies — DAM Capital, Concord Enviro, Mamata Machinery, Sanathan Textiles, and Transrail Lighting — made their stock market debuts. All the companies registered gains in their first session, with Mamata Machinery rising as much as 147 per cent.