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 34.9% upside. Asset Reconstruction Company (India) IPO follows with 10.43%, while Manipal Payment and Identity Solutions' latest GMP indicates a moderate debut.
| IPO | GMP (Rs) | Implied Listing Gain |
| Rentomojo | 141 | 34.9% |
| Asset Reconstruction | 14.5 | 10.43% |
| Manipal Payment | 5 | 1.47% |
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 Day 2 subscription concluded today.
Rentomojo IPO GMP Today
The grey market premium for the Rentomojo IPO stands at Rs 141 as of 5:00 p.m. on Sept. 10. Against the upper price band of Rs 404, the estimated listing price is Rs 545, translating to an expected gain of 34.9%.
Rentomojo IPO Subscription Status
The Rentomojo IPO was subscribed 4.71 times on Thursday, at the end of 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.
Asset Reconstruction IPO GMP Today
The grey market premium for the Asset Reconstruction Co. (India) IPO is Rs 14.5 as of 5:00 p.m. on Sept. 10. Adding this to the upper price band of Rs 139 indicates an estimated listing price of Rs 153.5, reflecting an upside of 10.43%.
Asset Reconstruction IPO Subscription Status
The Asset Reconstruction Company (India) IPO was subscribed 0.87 times on Thursday, at the end of 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.
Manipal Payment IPO GMP Today
The grey market premium for the Manipal Payment and Identity Solutions IPO is Rs 5 as of 5:00 p.m. on Sept. 10. Adding this to the upper price band of Rs 339 indicates an estimated listing price of Rs 344, reflecting an upside of 1.47%.
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Manipal Payment IPO Subscription Status
The Manipal Payment and Identity Solutions IPO was subscribed 0.31 times on Thursday, at the end of 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.
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 34.9%, followed by Asset Reconstruction at 10.43% and Manipal Payment at 1.47%. It also has the highest GMP-based gain per lot among the three issues.
- Rentomojo: Rs 5,217 per lot (Rs 141 GMP × 37 shares)
- Asset Reconstruction: Rs 1,551.5 per lot (Rs 14.5 GMP × 107 shares)
- Manipal Payment: Rs 220 per lot (Rs 5 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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