6 mainboard IPOs enter Day 2: Karamtara Engineering, Steamhouse India, LCC Projects & more; check GMP, subscription status
Six mainboard IPOs are in their second day of bidding, with subscriptions closing on September 11. The issues include Rentomojo, Karamtara Engineering, LCC Projects, Steamhouse India, Manipal Payment & Identity Solutions, and Asset Reconstruction...
By Ritesh Presswala, ETMarkets.com |
ETMarkets.com
Rentomojo is the largest, aiming to raise Rs 1,255.57 crore.
The IPO action is heating up as six mainboard public issues enter the second day of bidding today, giving investors just three days—until September 11—to place their bids. With a diverse mix of offerings on the table, investors have plenty to track, from subscription trends and grey market premiums (GMP) to issue sizes and investor appetite.
The six IPOs currently open for subscription include Rentomojo, Karamtara Engineering, LCC Projects, Steamhouse India, Manipal Payment & Identity Solutions, and Asset Reconstruction.
Among the six offerings, Rentomojo IPO is the biggest, targeting a fundraising of Rs 1,255.57 crore. It is followed by Karamtara Engineering IPO, which aims to raise Rs 875 crore, while Manipal Payment & Identity Solutions IPO is seeking to raise around Rs 805 crore.
Meanwhile, Asset Reconstruction IPO has an issue size of Rs 732.97 crore, while LCC Projects IPO and Steamhouse India IPO are looking to raise Rs 427.14 crore and Rs 414 crore, respectively.
Investor interest has been particularly strong in three issues. Rentomojo, Karamtara Engineering and LCC Projects IPOs were fully subscribed on Day 1 itself, setting the stage for potentially strong bidding activity as they enter the second day.
With all six issues now moving through the second day of subscription, investors will closely watch GMP movements, subscription numbers and category-wise demand to gauge market sentiment ahead of the September 11 closing date.
On Day 1, the IPO received an overall subscription of 1.27 times. The Retail Individual Investors (RIIs) category was subscribed 1.07 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 1.81 times. The Qualified Institutional Buyers (QIBs) category was subscribed 1.20 times.
The price band has been fixed at Rs 241 to Rs 254 per share, with a lot size of 59 shares. Retail investors will need to invest a minimum of Rs 14,986 to bid for one lot at the upper end of the price band. JM Financial Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar.
Karamtara Engineering IPO is currently commanding a GMP of Rs 75, translating into a premium of around 30% over the upper price band of Rs 254. Based on the current grey-market premium, the estimated listing price stands at around Rs 329 per share.
On Day 1, the IPO received an overall subscription of 1.32 times. The Retail Individual Investors (RIIs) category was subscribed 1.26 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 1.72 times. The Qualified Institutional Buyers (QIBs) category was subscribed 1.14 times.
The IPO has a price band of Rs 139 to Rs 146 per share and a lot size of 102 shares. Retail investors will need a minimum investment of Rs 14,892 for one lot at the upper price band. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar.
LCC Projects IPO has a current GMP of Rs 45, representing a premium of around 30% over the upper price band of Rs 146. The implied listing price based on the latest GMP is around Rs 191 per share.
On Day 1, the IPO received an overall subscription of 42%. The Retail Individual Investors (RIIs) category was subscribed 70%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 30%. The Qualified Institutional Buyers (QIBs) category has not yet received any bid.
The price band has been fixed at Rs 77 to Rs 81 per share, while the lot size is 185 shares. Retail investors will require a minimum investment of Rs 14,985 for one lot at the upper price band. Equirus Capital Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar.
Steamhouse India IPO is currently trading at a GMP of Rs 20, or approximately 25% above the upper price band of Rs 81. Based on the latest GMP, the estimated listing price is around Rs 101 per share.
On Day 1, the IPO received an overall subscription of 17%. The Retail Individual Investors (RIIs) category was subscribed 73%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 13%. The Qualified Institutional Buyers (QIBs) category has not yet received any bid.
The IPO opened on September 9 and closes on September 11, 2026. The allotment is expected to be finalised on September 15, followed by a tentative listing on NSE and BSE on September 17. The price band has been fixed at Rs 322 to Rs 339 per share and the lot size is 44 shares. Retail investors will need a minimum investment of Rs 14,916 for one lot at the upper price band.
Motilal Oswal Investment Advisors Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar. The IPO currently commands a GMP of Rs 8, translating into a premium of around 2% over the upper price band of Rs 339. Based on the latest GMP, the estimated listing price is around Rs 347 per share.
On Day 1, the IPO received an overall subscription of 38%. The Retail Individual Investors (RIIs) category was subscribed 56%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 33%. The Qualified Institutional Buyers (QIBs) category received a 9% bid.
The IPO opens for subscription on September 9 and closes on September 11. The allotment is expected to be finalised on September 15, while the shares are scheduled to list on NSE and BSE on September 17. The price band has been set at Rs 132 to Rs 139 per share, with a lot size of 107 shares. The minimum retail investment at the upper price band is Rs 14,873.
IIFL Capital Services Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar. Asset Reconstruction IPO is currently commanding a GMP of Rs 24, or around 17% over the upper price band of Rs 139. This indicates an estimated listing price of approximately Rs 163 per share.
On Day 1, the IPO received an overall subscription of 1.42 times. The Retail Individual Investors (RIIs) category was subscribed 1.54 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 2.46 times. The Qualified Institutional Buyers (QIBs) category was subscribed 41%.
The IPO opened for subscription on September 9 and close on September 11, 2026. The allotment is expected to be finalised on September 15, while the shares are tentatively scheduled to list on NSE and BSE on September 17.
Rentomojo IPO has a price band of Rs 384 to Rs 404 per share and a lot size of 37 shares. Retail investors will need a minimum investment of Rs 14,948 for one lot at the upper price band. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar.
The IPO is attracting significant attention in the grey market, with the latest GMP at Rs 130 per share. This represents a premium of around 35% over the upper price band of Rs 404. Based on the current GMP, the estimated listing price is around Rs 547 per share.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The six IPOs currently open for subscription include Rentomojo, Karamtara Engineering, LCC Projects, Steamhouse India, Manipal Payment & Identity Solutions, and Asset Reconstruction.
Among the six offerings, Rentomojo IPO is the biggest, targeting a fundraising of Rs 1,255.57 crore. It is followed by Karamtara Engineering IPO, which aims to raise Rs 875 crore, while Manipal Payment & Identity Solutions IPO is seeking to raise around Rs 805 crore.
Meanwhile, Asset Reconstruction IPO has an issue size of Rs 732.97 crore, while LCC Projects IPO and Steamhouse India IPO are looking to raise Rs 427.14 crore and Rs 414 crore, respectively.
Investor interest has been particularly strong in three issues. Rentomojo, Karamtara Engineering and LCC Projects IPOs were fully subscribed on Day 1 itself, setting the stage for potentially strong bidding activity as they enter the second day.
With all six issues now moving through the second day of subscription, investors will closely watch GMP movements, subscription numbers and category-wise demand to gauge market sentiment ahead of the September 11 closing date.
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Karamtara Engineering IPO
Karamtara Engineering IPO is a book-built issue worth Rs 875 crore. The offering comprises a fresh issue of 2.66 crore shares aggregating to Rs 675 crore and an offer for sale of 78.74 lakh shares worth Rs 200 crore. The IPO opened for subscription on September 9 and close on September 11, 2026. The allotment is expected to be finalised on September 15, while the shares are scheduled to list on NSE and BSE on September 17.On Day 1, the IPO received an overall subscription of 1.27 times. The Retail Individual Investors (RIIs) category was subscribed 1.07 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 1.81 times. The Qualified Institutional Buyers (QIBs) category was subscribed 1.20 times.
The price band has been fixed at Rs 241 to Rs 254 per share, with a lot size of 59 shares. Retail investors will need to invest a minimum of Rs 14,986 to bid for one lot at the upper end of the price band. JM Financial Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar.
Karamtara Engineering IPO is currently commanding a GMP of Rs 75, translating into a premium of around 30% over the upper price band of Rs 254. Based on the current grey-market premium, the estimated listing price stands at around Rs 329 per share.
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LCC Projects IPO
LCC Projects IPO is a book-built issue of Rs 427.14 crore. The issue comprises a fresh issue of 1.77 crore shares aggregating to Rs 258 crore and an offer for sale of 1.16 crore shares worth Rs 169.14 crore. The IPO opened on September 9 and remain open until September 11, with allotment expected to be finalised on September 15. The shares are proposed to be listed on NSE and BSE on September 17.On Day 1, the IPO received an overall subscription of 1.32 times. The Retail Individual Investors (RIIs) category was subscribed 1.26 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 1.72 times. The Qualified Institutional Buyers (QIBs) category was subscribed 1.14 times.
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The IPO has a price band of Rs 139 to Rs 146 per share and a lot size of 102 shares. Retail investors will need a minimum investment of Rs 14,892 for one lot at the upper price band. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar.
LCC Projects IPO has a current GMP of Rs 45, representing a premium of around 30% over the upper price band of Rs 146. The implied listing price based on the latest GMP is around Rs 191 per share.
Steamhouse India IPO
Steamhouse India IPO is a Rs 414 crore book-built issue comprising a fresh issue of 4.36 crore shares worth Rs 353 crore and an offer for sale of 75.31 lakh shares aggregating to Rs 61 crore. The IPO opened for subscription on September 9 and closes on September 11. The allotment is expected on September 15, with a tentative listing date of September 17 on both NSE and BSE.On Day 1, the IPO received an overall subscription of 42%. The Retail Individual Investors (RIIs) category was subscribed 70%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 30%. The Qualified Institutional Buyers (QIBs) category has not yet received any bid.
The price band has been fixed at Rs 77 to Rs 81 per share, while the lot size is 185 shares. Retail investors will require a minimum investment of Rs 14,985 for one lot at the upper price band. Equirus Capital Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar.
Steamhouse India IPO is currently trading at a GMP of Rs 20, or approximately 25% above the upper price band of Rs 81. Based on the latest GMP, the estimated listing price is around Rs 101 per share.
Manipal Payment & Identity Solutions IPO
Manipal Payment & Identity Solutions IPO is a book-built issue of Rs 805 crore, making it the third-largest IPO among the six issues opening on September 9. The offering comprises a fresh issue of 94.40 lakh shares aggregating to Rs 320 crore and an offer for sale of 1.43 crore shares worth Rs 485 crore.On Day 1, the IPO received an overall subscription of 17%. The Retail Individual Investors (RIIs) category was subscribed 73%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 13%. The Qualified Institutional Buyers (QIBs) category has not yet received any bid.
The IPO opened on September 9 and closes on September 11, 2026. The allotment is expected to be finalised on September 15, followed by a tentative listing on NSE and BSE on September 17. The price band has been fixed at Rs 322 to Rs 339 per share and the lot size is 44 shares. Retail investors will need a minimum investment of Rs 14,916 for one lot at the upper price band.
Motilal Oswal Investment Advisors Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar. The IPO currently commands a GMP of Rs 8, translating into a premium of around 2% over the upper price band of Rs 339. Based on the latest GMP, the estimated listing price is around Rs 347 per share.
Asset Reconstruction IPO
Asset Reconstruction IPO is a Rs 732.97 crore book-built issue and is entirely an offer for sale. The issue comprises 5.27 crore shares worth Rs 732.97 crore, with no fresh issue component.On Day 1, the IPO received an overall subscription of 38%. The Retail Individual Investors (RIIs) category was subscribed 56%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 33%. The Qualified Institutional Buyers (QIBs) category received a 9% bid.
The IPO opens for subscription on September 9 and closes on September 11. The allotment is expected to be finalised on September 15, while the shares are scheduled to list on NSE and BSE on September 17. The price band has been set at Rs 132 to Rs 139 per share, with a lot size of 107 shares. The minimum retail investment at the upper price band is Rs 14,873.
IIFL Capital Services Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar. Asset Reconstruction IPO is currently commanding a GMP of Rs 24, or around 17% over the upper price band of Rs 139. This indicates an estimated listing price of approximately Rs 163 per share.
Rentomojo IPO
Rentomojo IPO is the biggest offering among the six IPOs opened on September 9, with the company looking to raise Rs 1,255.57 crore. The issue comprises a fresh issue of 37.15 lakh shares aggregating to Rs 150 crore and an offer for sale of 2.74 crore shares worth Rs 1,105.57 crore.On Day 1, the IPO received an overall subscription of 1.42 times. The Retail Individual Investors (RIIs) category was subscribed 1.54 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 2.46 times. The Qualified Institutional Buyers (QIBs) category was subscribed 41%.
The IPO opened for subscription on September 9 and close on September 11, 2026. The allotment is expected to be finalised on September 15, while the shares are tentatively scheduled to list on NSE and BSE on September 17.
Rentomojo IPO has a price band of Rs 384 to Rs 404 per share and a lot size of 37 shares. Retail investors will need a minimum investment of Rs 14,948 for one lot at the upper price band. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar.
The IPO is attracting significant attention in the grey market, with the latest GMP at Rs 130 per share. This represents a premium of around 35% over the upper price band of Rs 404. Based on the current GMP, the estimated listing price is around Rs 547 per share.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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