Ten IPOs seek Rs 7,288.34 crore in crowded September market
Investors face a heavy offering day with ten companies competing for funds, led by Rentomojo seeking the largest chunk at over 10 percent of total proceeds.
On Wednesday, September 9, India's primary market saw intense activity as ten IPOs opened for subscription. These ten issues collectively seek to raise Rs 7,288.34 crore among various stages of offering. Six companies initiated subscription today, while three entered a second bidding day and one reached its final day. Rentomojo leads the group seeking funds with an issue size of Rs 1,255.57 crore. It plans to raise Rs 150 crore in fresh capital and Rs 1,105.57 crore via offer for sale at a share price between Rs 384 and Rs 404. Karamtara Engineering targets Rs 875 crore total proceeds with a price band of Rs 241 to Rs 254 per share. Manipal Payment & Identity Solutions seeks Rs 805 crore, including Rs 485 crore through offer for sale at prices ranging from Rs 322 to Rs 339. Asset Reconstruction Company (India) is targeting approximately Rs 733 crore.
