The initial public offering (IPO) of Rentomojo continued to witness strong demand on the third day of bidding, with the issue receiving 5.08 times subscription as of 10:20 am on September 11, according to NSE data.
In the grey market, Rentomojo shares were commanding a premium of 33.42 percent over the IPO's upper price band of Rs 404 per share on the morning of September 11, according to Investorgain.
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Grey market premiums are unofficial indicators and are driven by market sentiment and speculation. They do not guarantee listing gains and should not be viewed as a measure of the company's financial performance or fundamentals.
Ahead of the IPO, Rentomojo raised Rs 376.07 crore from anchor investors on September 8. The company allocated 93.08 lakh equity shares to anchor investors at Rs 404 apiece.