Six IPOs debut on D-Street in a 30-year high for ₹4,509.68 crore combined raise
India's primary market recorded its largest single-day IPO day in three decades with six companies raising over $470 million collectively.
A record-breaking day unfolded at India's D-Street on September 9 when six issues simultaneously opened for subscription, marking the first time this occurred since October 14, 1996. The concurrent listings include Rentomojo, Asset Reconstruction Company, Manipal Payment & Identity Solutions, Steamhouse India, LCC Projects, and Karamtara Engineering. These companies are collectively seeking ₹4,509.68 crore, equivalent to approximately $470 million. Rentomojo leads the group with an issue size of ₹1,255.57 crore, followed by Karamtara Engineering at ₹875 crore and Manipal Payment & Identity Solutions at ₹805 crore. The primary market activity stands in contrast to the behavior of broad indices, which remain consolidated below 24,000 points. Kranthi Bathini, an Equity Strategist at WealthMills Securities, noted that August featured strong IPO performance with many deals successfully oversubscribed due to abundant liquidity and interest in mid- and small-cap stocks.
