The primary market anticipates a busy period with 12 mainboard and SME IPOs worth ₹29,500 crore scheduled to open for subscription during September 14-23. According to reports from ETMarkets, this period marks the highest IPO value since October 2025, when issues worth around ₹29,000 crore hit the market during the week of October 6-10. The truncated trading week ahead will see markets remain shut on Monday, September 14, for Ganesh Chaturthi. NSE's ₹22,561.5-crore IPO will dominate the week's primary market activity, accounting for more than 90% of the value of issues opening for subscription. The issue opens on September 17 and closes on September 21. Additionally, two mainboard IPOs - Veegaland Developers and Manika Plastech - that opened last week will close during this week, along with six SME IPOs that opened last week. As per The Times of India, Thursday will witness the listing of six companies after their IPO bids closed last week, with these companies together garnering a total demand of about ₹1.4 lakh crore against an IPO mobilisation target of ₹7,100 crore.
Six mainboard IPOs made their market debut today, September 17, with Rentomojo, LCC Projects, Steamhouse India, and Karamtara Engineering opening at premiums, while Asset Reconstruction Co made a flat debut and Manipal Payment & Identity Solutions opened lower than its issue price. LCC Projects led the pack with the highest debut premium at 31.44%, opening at ₹189 per share on NSE and ₹191.90 on BSE, against the upper price band of ₹146. Rentomojo followed with a strong debut at 19.42% premium, opening at ₹482.45 on NSE and ₹480 on BSE against the upper price band of ₹404. Karamtara Engineering showed robust investor confidence with a 25.98% premium, opening at ₹320 per share on both exchanges against the upper price band of ₹254. Steamhouse India made a decent debut at 16.67% premium, opening at ₹94.50 on NSE and ₹93 on BSE against the upper price band of ₹81. Asset Reconstruction Co remained flat at ₹139 per share on both exchanges, matching its issue price of ₹139. Manipal Payment & Identity Solutions showed weak performance with a 2.65% discount, opening at ₹330 on NSE and ₹332 on BSE against the upper price band of ₹339.
The much-awaited NSE IPO worth ₹22,568 crore opened for subscription today, September 17, with the offer priced in a band of ₹1,700-1,785 per share. The IPO will close on September 21, with some existing NSE shareholders together selling a 5.1% stake in the country's largest stock exchange. According to The Times of India, ahead of the opening, NSE's grey market premium (GMP) took a hit on Wednesday and was at ₹160 per share, down from a high of ₹280 on September 7 and ₹208 on Tuesday. The GMP hit represents the premium that speculators are willing to offer in the unofficial market for shares of IPO-bound companies. Additionally, Sonaselection India's ₹141.6 crore IPO also opened for subscription on Thursday, with the issue closing on September 21. As per The Times of India, a mix of large global and domestic funds totalling 189 together bought nearly 3.8 crore shares of NSE at ₹1,785 per share worth ₹6,746 crore in the anchor offer, with ₹3,863 crore bought by domestic funds and ₹2,883 crore by foreign funds.
LCC Projects IPO GMP today stands at ₹46, indicating strong investor confidence ahead of listing. With an upper price band of ₹146, the estimated listing price for LCC Projects IPO is ₹192, representing an expected percentage gain of 31.51%. The IPO's price band is fixed between ₹139 and ₹146 per share, with a minimum bid requirement of 102 equity shares and multiples thereof. The strong GMP performance reflects positive market sentiment toward the issue, with the premium showing consistent upward momentum in grey market trading. According to Kantilal Chhaganlal Securities, the company is an EPC player focused on irrigation and water-supply infrastructure with operations across multiple states. The company reported revenue and profit growth between FY24 and FY26, while its order book stood at ₹7,953.2 crore as of March 31, 2026. Analysts expect potential listing gains of up to 25% with recommendations to book partial gains and hold the balance for long-term.
Rentomojo IPO GMP stands at ₹104, indicating strong investor interest ahead of listing. With an upper price band of ₹404, the estimated listing price for Rentomojo IPO is ₹508, representing an expected percentage gain of 25.74%. The IPO's price band is fixed between ₹384 and ₹404 per share, with a minimum bid requirement of 37 equity shares and multiples thereof. The strong GMP performance reflects positive market sentiment toward the rental services sector issue, with the premium showing consistent upward momentum in grey market trading. According to analyst assessments, the furniture and appliance rental company recorded revenue, EBITDA and adjusted PAT CAGRs of 41.7%, 45.5% and 118.4% respectively between FY24 and FY26. Analysts expect listing gains in the 20-30% range, citing the company's profitability, return ratios and growth opportunity in India's rental market. Accel Partner Prashanth Prakash highlighted that Rentomojo has evolved from an early-stage bet into a category-defining business, with scale and profitability going hand in hand, emphasizing the company's asset utilisation, technology and operational capabilities.
Karamtara Engineering IPO GMP stands at ₹40 as of 02:17 PM, with an estimated listing price of ₹294 against the upper price band of ₹254. The expected percentage gain of 15.75% suggests positive market sentiment. The IPO's price band is fixed between ₹241 and ₹254 per share, with a minimum bid requirement of 59 equity shares and multiples thereof. The strong subscription of 62.63 times indicates robust investor interest in the engineering sector issue. According to Kantilal Chhaganlal Securities, the company manufactures equipment and components used in renewable energy and power transmission, including solar mounting structures, tracker components, transmission towers and related products. It has manufacturing facilities in India and Italy and serves customers across more than 50 countries. Analysts recommend booking partial profits on premium listing and holding the remainder for long-term.
