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Nine IPOs Draw Rs 1.4 Lakh Crore in Bids in One Week

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Six mainboard and three SME IPOs closed Friday, pulling bids of about Rs 1.4 lakh crore against a Rs 3,100 crore target. RentoMojo led with Rs 63,600 crore.

Nine initial public offerings closed in Mumbai on Friday, drawing combined bids of about Rs 1.4 lakh crore against a fundraising target of roughly Rs 3,100 crore, according to bidding data from the NSE and BSE. Six of the issues were mainboard offers; the other three listed on the SME platforms of the two exchanges.

It was one of the busiest weeks for India's primary market in recent times. RentoMojo ran the largest of the offers, raising a total of Rs 1,250 crore, with the post-anchor portion set at Rs 871 crore. That part of the issue was subscribed 73 times and generated demand of nearly Rs 63,600 crore - the highest of any of the nine IPOs by value.

Karamtara Engineering's issue was subscribed 60 times, with post-anchor demand of Rs 40,667 crore. Among the remaining offers, LCC Projects attracted bids worth Rs 14,817 crore, ARCIL drew Rs 10,311 crore and Steamhouse India pulled in Rs 9,299 crore.

The scale of the bids, far outstripping the amount the companies set out to raise, points to strong investor appetite across the batch of listings that wrapped up during the week.

IPO, primary market, RentoMojo IPO, Karamtara Engineering, NSE BSE, IPO subscription, Indian stock market, mainboard IPO

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