New Delhi

Investorappetite remained strong in the primary market, with initial public offerings of Rentomojo, Karamtara Engineering and LCC Projects getting fully subscribed on the first day of public subscription on Wednesday, as six public offers went live in a single day.

Meanwhile, the initial share sale of Steamhouse India was subscribed 42 per cent, while Asset Reconstruction Company (India) Ltd, better known as Arcil, received 38 per cent subscription. Manipal Payment and Identity Solutions saw the weakest response, with its IPO subscribed 17 per cent, according to NSE data till 5 pm.

Real estate developer Pranav Constructions’ Rs 351-crore IPO was subscribed 121 times on the final day. The company received bids for 272 crore shares against 2.24 crore shares on offer. It was open for subscription from September 7-9 with a price band of Rs 118-124 per equity share.

With six IPOs opening for subscription on September 9 and three more having opened a day earlier, the primary market continues to see strong momentum, underlining robust investor appetite and corporate confidence.

The three-day maiden public offerings of these six firms will conclude on September 11.

The companies tapping the market represent a diverse mix of sectors, including engineering and manufacturing, specialty chemicals, payments and identity solutions, and online rentals. The Rs 1,256-crore IPO of Rentomojo attracted bids for 3.08 crore shares against 2.18 crore shares on offer, translating into a subscription of 1.42 times. The online furniture and appliance rental platform has fixed a price band of Rs 384-404 per equity share.

The issue comprises a fresh issue of shares worth up to Rs 150 crore and an offer for sale (OFS) of 2.73 crore shares valued at Rs 1,106 crore at the upper end of the price band.

Karamtara Engineering’s Rs 875-crore IPO received bids for 3.22 crore equity shares against 2.54 crore shares on offer, translating into a subscription of 1.27 times. The IPO comprises a fresh issue of Rs 675 crore and an OFS of shares worth up to Rs 200 crore. The price band has been fixed at Rs 241-254 per share.

Gujarat-based LCC Projects also saw strong traction, receiving bids for 2.77 crore shares against 2.09 crore scrips on offer, translating into a subscription of 1.32 times. The EPC company has fixed a price band of Rs 139-146 per share for its Rs 427-crore IPO.

Industrial gas producer Steamhouse India attracted bids for 1.57 crore shares against 3.76 crore shares on offer, suggesting a subscription of 42 per cent. The company will raise Rs 414 crore through the IPO, comprising a fresh issue of Rs 353 crore and an OFS of Rs 61 crore.

Arcil received bids for 1.4 crore shares against 3.7 crore shares on offer, witnessing a subscription of 38 per cent. The company has fixed a price band of Rs 132-139 per share for its Rs 733-crore IPO, which is entirely an OFS. Since there is no fresh issue, Arcil will not receive any proceeds from the offering. Manipal Payment and Identity Solutions received bids for 21.91 lakh shares against 1.3 crore shares on offer, translating to a subscription of 17 per cent. The company has fixed a price band of Rs 322-339 per share for its Rs 805-crore IPO. The issue comprises a fresh issue of Rs 320 crore and an OFS of up to 1.43 crore shares worth Rs 485 crore.