Rentomojo, Kanohar Electricals: Both IPOs make strong debut after stellar subscription; how shares performed

Rentomojo and Kanohar Electricals debuted on the Indian stock market this week, seeing strong demand. Rentomojo's shares rose 32% on the first day, while Kanohar's increased 29%. Both IPOs attracted significant investor interest.

Rentomojo and Kanohar Electricals were the latest additions to the Indian stock market this week, after both IPOs received stellar demand, with participation seen across investor categories.

Rentomojo, the online furniture and appliance rental platform, was listed on the exchanges today at ₹480, registering an 18.81% premium over its issue price of ₹404 on the BSE. Following the bumper listing, the stock extended its gains through the session, settling its first trading day at ₹532.95, a 32% premium to the issue price.

Likewise, shares of transformer manufacturer Kanohar Electricals also made a strong debut on Dalal Street. The stock, which was listed on Wednesday, September 16, ended its first day at ₹786.95, marking a 24.51% premium over its IPO price after listing with 8.5% premium.

The stock extended its gains in today's session, rising 8.72% to ₹817 and trading around 29.3% above its IPO price of ₹632 apiece.

Retail investors who were fortunate enough to receive allotments in these IPOs appeared to have been rewarded by the strong listings and subsequent gains on the exchanges.

The ₹1,256-crore initial public offering (IPO) of Rentomojo Ltd was subscribed 72.88 times on the final day of bidding last week.

The company had fixed a price band of ₹384–404 per equity share for the IPO. The issue comprised 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.

Ahead of the public issue, Rentomojo had raised ₹376 crore from anchor investors, including Goldman Sachs Funds and BlackRock Global Funds. Founded by Geetansh Bamania, the company operates a technology-driven, full-stack direct-to-consumer (D2C) platform offering rental and subscription services for furniture and home appliances across India.

Transformer manufacturer Kanohar Electricals also witnessed heavy demand for its public issue. The ₹1,056-crore IPO was subscribed 90.59 times on the final day of bidding on Thursday last week.

The issue comprised a fresh issue of shares worth up to ₹300 crore and an OFS of up to 1.2 crore shares, valued at ₹756 crore at the higher end of the price band, by promoter K Sons Family Trust.

The company is one of the leading domestic transformer manufacturers, catering to sectors including power transmission, railways, renewable energy and power distribution. The company operates through two segments—transformer manufacturing and Engineering, Procurement and Construction (EPC).

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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