RentoMojo Shares Make Strong Debut: IPO Lists At 19% Premium, Stock Rallies 9% Post Listing

RentMojo IPO this morning made a strong debut in the market, listing at a premium of 19.42% over the IPO issue price of Rs 404. The RentMojo IPO, during a three-day bidding period, was much in demand among the investors who booked about 72.88 times overall, with bids received for approximately 158.68 crore shares against 2.18 crore shares on offer.

RentoMojo IPO Listing

The RentMojo shares listed on the NSE at Rs.482.45 and were listed at Rs 480 on the BSE, an 18.81% premium, before rising further to Rs 508.60, taking the gain over the issue price to around 26%.

The furniture and appliance rental platform's shares were listed at Rs 482.45 on the National Stock Exchange (NSE), with a premium of 19.42% over the final issue price of Rs 404 per share.

On the BSE, RentoMojo shares debuted at Rs 480, with a listing premium of 18.81%.

After the listing, the stock surged further to Rs 508.60, about 26% over the IPO issue price.

At the Time of writing, RentoMojo shares on BSE were trading at Rs. 523.75 apiece, 9.11% above the opening price.

At the NSE listing price, the company's market valuation is currently at approximately Rs 5,071 crore.

How Much Did Allottees Gain From RentoMojo IPO Listing?

The investors who received RentoMojo IPO shares received huge gains on listing day, based on the opening prices on the exchanges. The IPO lot size was 37 shares, requiring a minimum investment of Rs 14,948 at the final issue price of Rs 404 per share.

At the NSE listing price of Rs 482.45, the value of one lot increased to approximately Rs 17,850.65 so investors enjoyed a listing gain of around Rs 2,902.65 per lot.

RentoMojo IPO Details: Issue Size, Price Band & Subscription

RentoMojo raised Rs 1,255.57 crore through its public issue, which comprised a fresh issue of shares and an offer for sale by existing shareholders. The issue included a fresh issue of Rs 150 crore and an offer for sale of Rs 1,105.57 crore, involving approximately 2.74 crore shares.

The IPO opened for subscription on September 9 and closed on September 11th. During this period, the ipo was subscribed 15.59 times in the retail category, 67.93 times in the NII and 177.29 times in the Qualified Institutional Buyer segments.

The IPO's price band was fixed at Rs 384 to Rs 404 per share, with the final issue price set at Rs 404.

Other IPO Listings Today

Apart from RentoMojo, some other companies have also made their stock market debut on September 17th.

Karamtara Engineering listed at Rs 320, a premium of 25.98%, while LCC Projects debuted at Rs 189, up 29.45% over its issue price.

Steamhouse India listed at Rs. 94.50 per share, about 16.67% higher

Manipal Payment and Identity Solutions made its debut at a discount, opening at Rs. 330 per share, 2.65% lower than the issue price of Rs. 339

Similarly, Asset Reconstruction Company shares opened at the issue price, with no major gains or losses, at Rs. 139 per share.