IPOs Closing Today: Rentomojo, Karamtara And LCC Projects Lead Demand As 6 Mainboard Issues Enter Final Day

India’s primary market is heading into one of its busiest closing days of the month, with six mainboard IPOs set to end their subscription windows on Friday. The ₹4,500-crore-plus slate has produced a wide gap in investor demand, with Rentomojo, Karamtara Engineering and LCC Projects attracting substantially stronger bidding than Manipal Payment & Identity Solutions and Asset Reconstruction Company.

The six issues — Rentomojo, Karamtara Engineering, LCC Projects, Steamhouse India, Manipal Payment & Identity Solutions and Asset Reconstruction Company opened on September 9 and will close on September 11. The latest available subscription data shows Rentomojo at 4.71 times, Karamtara Engineering at 3.61 times and LCC Projects at 3.84 times, while Steamhouse India stood at 2.21 times. Asset Reconstruction was at 0.87 times and Manipal Payment & Identity Solutions at 0.31 times.

Rentomojo Leads The Pack

Rentomojo has attracted the strongest overall demand among the six offerings, with the ₹1,255.57-crore issue subscribed 4.71 times. The IPO has a price band of ₹384-₹404 a share and a lot size of 37 shares, taking the minimum retail investment to ₹14,948.

Karamtara Engineering has also seen strong participation. Its ₹875-crore issue was 3.61 times subscribed, with the non-institutional portion drawing particularly strong demand. The company has fixed a price band of ₹241-₹254, with a retail lot comprising 59 shares.

LCC Projects is another issue to watch on the final day. Its ₹427.14-crore offering was subscribed 3.84 times.

Steamhouse, ARCIL And Manipal Payment Lag

Steamhouse India has received a more moderate response, with its ₹414-crore issue subscribed 2.21 times. The company is offering shares in the ₹77-₹81 range, with a retail lot size of 185 shares and a minimum investment of ₹14,985.

At the other end of the demand spectrum, Asset Reconstruction Company (India) had received bids for 0.87 times the shares on offer, while Manipal Payment & Identity Solutions was at just 0.31 times. Both issues are therefore yet to see their overall offerings fully covered based on the latest available subscription data.

Manipal Payment & Identity Solutions is seeking to raise ₹805 crore through an issue priced at ₹322-₹339 per share. Asset Reconstruction Company is raising ₹732.97 crore at a price band of ₹132-₹139.

Subscription figures are the latest available in the market data and can change during Friday's session.

The six issues together mark a significant burst of activity in India's primary market. The current response also shows that investors have been selective despite the unusually crowded IPO calendar, with demand concentrated in a few offerings rather than spread evenly across the entire slate. Six companies had opened their IPOs on the same day on September 9, making it one of the busiest single-day launches for India's primary market.

Also Read - NSE IPO; Here’s How Much SBI, New India Assurance And Other Shareholders Could Make From The ₹1,700-1,785 Offer