RentoMojo shares rallied over 5% in early trading on Friday, Sept.18, a day after the furniture and appliance rental platform made a strong debut on the stock exchanges. The stock hit an intraday high of Rs 581.95, up 8.93% from its previous close of Rs 534.25.
At around 9:40 a.m., RentoMojo shares were trading at Rs 566.40, gaining 5.94% from its previous close. The stock opened at Rs 570 today. Its volume-weighted average price stood at Rs 559.64.
RentoMojo Shares After Strong Listing
RentoMojo shares made their stock market debut on Thursday, Sept. 17. The shares listed at Rs 482.45 apiece on the NSE, marking a 19.42% premium over the issue price of Rs 404 per share. On the BSE, the stock listed at Rs 480, an 18.81% premium to the issue price.
The company's IPO was open for subscription from Sept. 9 to Sept. 11, while the shares were listed on both the BSE and NSE on Sept. 17. RentoMojo had fixed the IPO price band at Rs 384-404 per share.
RentoMojo IPO Details
RentoMojo raised Rs 1,255.57 crore through the book-building issue. The IPO comprised a fresh issue of 37.15 lakh equity shares worth Rs 150 crore and an offer for sale of 2.74 crore shares worth Rs 1,105.57 crore.
The strong debut came after the IPO received strong demand. On the second day of trading, the stock moved further above its listing price, touching Rs 581.95 during the early hours of the session.
Also Read: Rentomojo Shares Make Strong Debut, List With Over 19% Premium At Rs 482.45 Apiece On NSE
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