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IPOs listing: Rentomojo, Karamtara Engineering to LCC Projects — six IPOs list today, delivers up to 30% premium
Several IPO stocks debuted on 17 September, with Rentomojo, LCC Projects, Steamhouse India, and Karamtara Engineering opening at premiums. Asset Reconstruction Co had a flat debut, while Manipal Payment & Identity Solutions opened lower than its issue price.
Several recently listed IPO stocks made varied debuts on the bourses today, Thursday, 17 September, with Rentomojo, LCC Projects, Steamhouse India and Karamtara Engineering opening at premiums, while Asset Reconstruction Co made a flat debut, and Manipal Payment & Identity Solutions opened lower.
Rentomojo share price made a positive debut on the bourses today, Thursday, 17 September. On the NSE, Rentomojo share price opened at ₹482.45 per share, 19.42% higher than the issue price of ₹404. On the BSE, the stock opened at ₹480 apiece, up 18.81% from the issue price.
The initial public offering of Rentomojo Ltd was subscribed 72.88 times on the final day of bidding. The IPO received bids for 158.68 crore shares against 2.17 crore shares on offer, according to NSE data.
The Qualified Institutional Buyers (QIBs) category was subscribed 177.29 times, while the quota for non-institutional investors (NIIs) received 67.93 times subscription. The retail investors' portion was subscribed 15.59 times.
The online furniture and appliance rental platform has fixed a price band of ₹384–404 per equity share for its IPO. The issue comprises a fresh issue of shares worth up to ₹150 crore and an offer for sale (OFS) of 2.73 crore shares, valued at ₹1,106 crore at the upper end of the price band.
LCC Projects share price made a bumper debut on the bourses today. On the NSE, LCC Projects share price opened at ₹189 per share, 29.45% higher than the issue price of ₹146. On the BSE, the stock opened at ₹191.90 apiece, up 31.44% from the issue price.
LCC Projects' initial public offering received 48.51 times subscription. The IPO received bids for 101.52 crore shares against 2.09 crore shares on offer.
The QIB quota garnered 78.69 times subscription, while the portions reserved for non-institutional investors and retail investors were subscribed 62.99 times and 25.56 times, respectively.
The EPC company has fixed a price band of ₹139–146 per share for its ₹427-crore IPO.
Steamhouse India share price made a decent debut on the bourses today. On the NSE, Steamhouse India share price opened at ₹94.50 per share, 16.67% higher than the issue price of ₹81. On the BSE, the stock opened at ₹93 apiece, up 14.81% from the issue price.
The ₹414-crore IPO of industrial gas producer Steamhouse India Ltd was subscribed 30.49 times. The IPO received bids for 114.74 crore shares against 3.76 crore shares on offer.
The non-institutional investors' portion was subscribed 44.30 times, while the QIB quota received 43.91 times subscription. The retail investors' category was subscribed 16.90 times.
The Steamhouse India IPO comprises a fresh issue of ₹353 crore and an OFS of ₹61 crore. The company has fixed a price band of ₹77–81 per share.
Karamtara Engineering share price made a bumper debut on the bourses today. On the NSE, Karamtara Engineering share price opened at ₹320 per share, 25.98% higher than the issue price of ₹254. On the BSE, the stock also opened at ₹320 apiece, up 25.98% from the issue price.
Karamtara Engineering's ₹875-crore IPO was subscribed 62.63 times on the last day of the share sale. The IPO received bids for 159.17 crore shares against 2.54 crore shares on offer.
The QIB portion was subscribed 159.59 times, while the quota for non-institutional investors received 48.55 times subscription. The retail investors' portion was subscribed 13.26 times.
The IPO comprises a fresh issue of ₹675 crore and an OFS of shares worth up to ₹200 crore. The price band has been fixed at ₹241–254 per share.
Asset Reconstruction Co share price made a flat debut on the bourses today. On both the NSE and BSE, Asset Reconstruction Co share price opened at ₹139 per share, the same as its issue price.
The ₹733-crore initial share sale of Asset Reconstruction Company (India) Ltd, better known as Arcil, was subscribed 20.10 times. The company's IPO received bids for 74.19 crore shares against 3.69 crore shares on offer.
The QIB category was subscribed 52.65 times, while the non-institutional investors' portion received 15.69 times subscription. The retail investors' quota was subscribed 3.39 times.
Arcil has fixed a price band of ₹132–139 per share for its ₹733-crore IPO, which is entirely an OFS. Since the issue does not include a fresh issue of shares, Arcil will not receive any proceeds from the offering.
Manipal Payment & Identity Solutions share price made a weak debut on the bourses today. On the NSE, the stock opened at ₹330 per share, 2.65% lower than the issue price of ₹339. On the BSE, it opened at ₹332 apiece, down 2.06% from the issue price.
The ₹805-crore initial share sale of Manipal Payment was subscribed 1.42 times. The IPO received bids for 1.85 crore shares against 1.30 crore shares on offer.
The retail investors' portion was subscribed 2.19 times, while the QIBs quota received 1.26 times subscription. The portion reserved for non-institutional investors was subscribed 1.22 times.
The company has fixed a price band of ₹322–339 per share for its ₹805-crore IPO. The issue comprises a fresh issue of ₹320 crore and an offer for sale (OFS) of up to 1.43 crore shares, worth ₹485 crore at the upper end of the price band.
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Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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