Six mainboard IPOs open including Rentomojo, ARCIL, Manipal Payment, LCC Projects and Karamtara Engineering
· Business · LiveMint, Moneycontrol
India's primary market saw the launch of six mainboard initial public offerings on Wednesday, marking the first time in thirty years. This way opening coincided with positive investor sentiment following the stellar debut of ESDS Software. Rentomojo opened at a price band of ₹384 to ₹404 with a grey market premium of ₹134, suggesting an estimated listing at ₹538. Asset Reconstruction India Limited (ARCIL) has a price band of ₹132 to ₹139 and a GMP of ₹30, leading to an expected listing at ₹169. Manipal Payment offers a lot of 37 shares with a minimum retail investment of ₹14,873, while LCC Projects GMP hovered near ₹40, indicating an estimated listing at ₹186. These issues opened for subscription on September 9 and are set to close on September 11.
Why it matters
The debut of six mainboard IPOs in a single day indicates a resurgence in capital market activity and investor appetite for new listed entities. Retail and institutional investors have multiple entry points across different sectors during this subscription period.
Read the original report — LiveMint
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