Rentomojo IPO is leading the listing-gain race among the three public issues that opened for subscription on Sept. 9, with its latest grey market premium indicating a 35.40% upside. Asset Reconstruction Company (India) IPO follows with 17.27%, while Manipal Payment and Identity Solutions commands a modest 2.36% premium.
The IPOs of Rentomojo, Manipal Payment and Identity Solutions, and Asset Reconstruction Company (India) are scheduled to close on Sept. 11. Investors are tracking the latest GMP figures for clues about potential listing gains, while subscription data will offer further insight into investor demand.
Here is a detailed look at the latest GMP and key IPO details for each issue as subscription enters Day 2.
Rentomojo IPO GMP Today
The grey market premium for the Rentomojo IPO stands at Rs 143 as of 9:00 a.m. on Sept. 10. Against the upper price band of Rs 404, the estimated listing price is Rs 547, translating to an expected gain of 35.40%.
Rentomojo IPO Subscription Status
The Rentomojo IPO has been subscribed 1.42 times as of 9:30 a.m. on Thursday, on Day 2 of bidding.
Rentomojo IPO Details
E-commerce furniture and appliance rental platform Rentomojo is bringing a Rs 1,255.57 crore book-built issue to the market.
- Issue Size & Structure: A Rs 1,255.57 crore public offer comprising a fresh issue of Rs 150 crore (37.15 lakh shares) and an Offer-for-Sale (OFS) of Rs 1,105.57 crore (2.74 crore shares).
- Price Band & Lot Size: Rs 384 to Rs 404 per share. Retail investors must apply for at least 37 shares (1 lot), requiring a minimum commitment of Rs 14,948.
- Key Dates: Bidding opens on Sept. 9 and closes on Sept. 11. Allotment status will be finalised on Sept. 15, with listing scheduled for Sept. 17 on BSE and NSE.
- Lead Manager & Registrar: Motilal Oswal Investment Advisors Ltd. is the lead manager; Kfin Technologies Ltd. is the registrar.
Manipal Payment IPO GMP Today
The grey market premium for the Manipal Payment and Identity Solutions IPO is Rs 8 as of 9:00 a.m. on Sept. 10. Adding this to the upper price band of Rs 339 indicates an estimated listing price of Rs 347, reflecting an upside of 2.36%.
Manipal Payment IPO Subscription Status
The Manipal Payment and Identity Solutions IPO has been subscribed 0.17 times as of 9:30 a.m. on Thursday, on Day 2 of bidding.
Manipal Payment IPO Details
Secure issuance and digital payment solutions provider Manipal Payment and Identity Solutions is launching an Rs 805 crore issue.
- Issue Size & Structure: A Rs 805 crore offer consisting of a fresh issue of Rs 320 crore (94.40 lakh shares) and an OFS of Rs 485 crore (1.43 crore shares).
- Price Band & Lot Size: Rs 322 to Rs 339 per share. The minimum application lot is 44 shares, amounting to a retail investment of Rs 14,916.
- Key Dates: The issue opens on Sept. 9 and closes on Sept. 11. Share allotment will be finalised on Sept. 15, with stock listing on BSE and NSE slated for Sept. 17.
- Lead Manager & Registrar: Motilal Oswal Investment Advisors Ltd. is the lead manager; MUFG Intime India Pvt. Ltd. is the registrar.
Asset Reconstruction IPO GMP Today
The grey market premium for the Asset Reconstruction Co. (India) IPO is Rs 24 as of 9:00 a.m. on Sept. 10. Adding this to the upper price band of Rs 139 indicates an estimated listing price of Rs 163, reflecting an upside of 17.27%.
Asset Reconstruction IPO Subscription Status
The Asset Reconstruction Company (India) IPO has been subscribed 0.38 times as of 9:30 a.m. on Thursday, on Day 2 of bidding.
Asset Reconstruction IPO Details
Non-banking financial company Asset Reconstruction Co. (India) is preparing its public offering.
- Issue Size & Structure: A Rs 732.97 crore public issue consisting entirely of an Offer-for-Sale (OFS) of 5.27 crore equity shares.
- Price Band & Lot Size: Rs 132 to Rs 139 per share. Retail investors can apply for a minimum of 107 shares (1 lot), totalling Rs 14,873.
- Key Dates: The offer opens on Sept. 9 and closes on Sept. 11. Allotment is set for Sept. 15, with listing expected on Sept. 17 on BSE and NSE.
- Lead Manager & Registrar: IIFL Capital Services Ltd. is the lead manager; MUFG Intime India Pvt. Ltd. is the registrar.
Rentomojo vs Asset Reconstruction vs Manipal Payment: Which IPO Offers the Best Listing Gain?
Based on the latest GMP, Rentomojo currently offers the highest implied listing gain at 35.40%, followed by Asset Reconstruction at 17.27% and Manipal Payment at 2.36%. It also has the highest GMP-based gain per lot among the three issues.
- Rentomojo: Rs 5,291 per lot (Rs 143 GMP × 37 shares)
- Asset Reconstruction: Rs 2,568 per lot (Rs 24 GMP × 107 shares)
- Manipal Payment: Rs 352 per lot (Rs 8 GMP × 44 shares)
Grey market premiums are unofficial and subject to market volatility. Investors should evaluate business fundamentals, financial valuation, and overall market sentiment before making an investment decision.
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