Investors on Dalal Street are dealing with an unusually busy primary market on Wednesday, September 9, with as many as 10 IPOs at different stages of their offerings. According to reports from Live Mint, collectively these issues are looking to raise ₹7,288.34 crore from investors. Of the 10 IPOs, six are opening for subscription today, while three have moved into their second day of bidding. The Pranav Constructions IPO is meanwhile entering its final day of subscription. Adding to the excitement around the primary market is the buzz surrounding the upcoming mega IPOs of NSE and JIO, which has further lifted sentiment in the IPO space.
Rentomojo IPO has opened for subscription on Wednesday, September 9, with shares priced at ₹384-404 per equity share and closing today, Friday, September 11. The issue has achieved 1.42 times subscription on its first day of bidding, with strong investor interest driving the grey market premium to ₹134. This indicates a potential listing gain of 33.17% over the issue price, with the estimated listing price at ₹538 per share. The dual structure includes a fresh issue of ₹150 crore and an offer for sale of 2.74 crore shares aggregating to ₹1,105.57 crore. The price band has been set at ₹384 to ₹404 per equity share with an application lot size of 37 shares for retail investors. According to TradingView News, the IPO subscription opened at 10:00 IST on Wednesday and will close today, with shares expected to list on both BSE and NSE on Thursday, September 17. At the upper end of the price band, one lot would cost ₹14,948.
Ahead of its IPO, Rentomojo has raised ₹362.25 crore from anchor investors, demonstrating strong institutional confidence in the company's prospects. The company allotted 1.06 crore shares at ₹339 each to 36 anchor investors on Tuesday, August 8, 2026, with the allocation price including a face value of ₹1 per share and a share premium of ₹338 per share. This anchor investment provides crucial validation for the public offering and suggests institutional investors view the company's growth trajectory positively. The company is also offering a ₹20-per-share discount to eligible employees bidding in this IPO, which will be adjusted against the applicable issue price.
Karamtara Engineering is commanding a GMP of ₹65, at the upper price band of ₹254 per share, pointing to an estimated listing price of ₹319 per share. As reported by Live Mint, this represents a potential listing gain of 25.59% over the issue price. The company is seeking to raise ₹875 crore through the IPO, with the offering including 2.66 crore fresh shares aggregating to ₹675 crore and an offer for sale of 78.74 lakh shares worth ₹200 crore. The price band has been set at ₹241 to ₹254 per equity share with a lot size of 59 shares.
Rentomojo, incorporated in April 2012, operates a technology-driven, full-stack D2C online rental and subscription platform for furniture and appliances in India. The company is the largest online rental and subscription platform for home furniture and appliances based on live subscribers and subscription revenue amongst leading home furniture and appliance rental platforms in India. As of March 31, 2026, it had 253,825 live subscribers across 29 cities, enabling subscribers to access home essentials through affordable, long-term and flexible subscription plans backed by an integrated asset-lifecycle model spanning category management, designing, procurement, refurbishment, servicing, reverse logistics and multi-cycle redeployment. The company operates an integrated asset-lifecycle model covering procurement, refurbishment, servicing, reverse logistics and redeployment, supporting recurring revenue and customer retention.
The company reported a consolidated net profit of ₹118.4 crore and sales of ₹387 crore for the twelve months ended March 31, 2026. Of the net proceeds from the fresh issue, the company intends to use ₹70 crore towards prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company; ₹42.50 crore towards payment of lease rental/license fee for its warehouses and experience stores; and the balance towards general corporate purposes. According to Canara Bank, Rentomojo's model is built around a subscription engine, large-scale refurbishment and circular logistics, with revenue, EBITDA and PAT growing at CAGRs of 42%, 45% and 73% respectively between FY24 and FY26. The company's revenue grew from ₹193 crore in FY24 to ₹387 crore in FY26, while EBIT margins remained strong at 22.9% despite competitive pressures.
