The Rentomojo IPO will open for subscription on Wednesday, 9 September, and will close today, Friday, 11 September. The Rentomojo IPO price band has been set at ₹384- ₹404 per equity share, with a face value of Re 1 per share. The Rentomojo IPO lot size is 37 equity shares, and bids can be placed in multiples of 37 shares thereafter. Rentomojo's IPO subscription for the public issue will open at 10:00 IST on Wednesday during the deals.
Rentomojo IPO GMP today, or grey market premium, is +134. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rentomojo share price was indicated at ₹538 apiece, which is 33.17% higher than the IPO price of ₹404.
According to grey market trends observed over the past six sessions, the IPO's GMP is rising today, suggesting expectations of a robust listing. Throughout this timeframe, the GMP fluctuated between ₹79 and ₹155.
Under Rentomojo's IPO reservation structure, up to 50% of the issue is reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
The Rentomojo IPO allotment basis is expected to be finalised on Tuesday, 15 September. The company is likely to begin processing refunds on Wednesday, 16 September, while shares are expected to be credited to the demat accounts of successful allottees on the same day.