IPO GMPs: For the first time in thirty years, India’s primary market is witnessing the launch of six mainboard initial public offerings (IPOs) in one day. The bumper opening of 6 IPOs coincided with positive investor sentiment buoyed by the stellar debut of ESDS Software. Rentomojo, ARCIL, and Manipal Payment are among six IPOs that opened for subscription on Wednesday, September 9.
For investors closely tracking the primary market, here is a comparison of IPO grey market premium (GMP) today of Rentomojo, Asset Reconstruction Company India Limited, Manipal Payment & Identity Solutions, LCC Projects, and Karamtara Engineering.
Rentomojo IPO GMP today stood remained stable on Wednesday, September 9. Its IPO GMP today stood at ₹134, hence its estimated listing price is expected at ₹538 per share (sum of upper price band and IPO GMP today) indicating a 33.17% listing gain.
The IPO is a book build issue of ₹1,255.57 crore, which is a combination of fresh issue of 37.15 lakh shares aggregating to ₹150 crores. The IPO bidding opened for subscription on September 9 and will close on September 11. The IPO issue price band is fixed between ₹384 and ₹404 per share. The lot size for an application is 37 shares. Whereas, the minimum amount of investment for retail investors is ₹14,948.
Asset Reconstruction Company India Limited (ARCIL) IPO GMP today stood at ₹30 per share, as per the data presented by different trackers of the grey market premium at 10 am on Wednesday. With this, the IPO is estimated to be listed at a price of ₹169 per share, with 21.58% listing gain/loss expected.