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Mixed IPO Debuts: Some Soar, Others Stumble
17 Sep
Summary
- Rentomojo and LCC Projects debuted with significant premiums.
- Karamtara Engineering also saw a strong opening on both exchanges.
- Asset Reconstruction Co. had a flat debut, while Manipal Payment Solutions opened lower.
On Thursday, September 17, the stock market witnessed a spectrum of debuts for newly listed IPO stocks. Rentomojo, LCC Projects, Steamhouse India, and Karamtara Engineering all began their public trading journey with premiums on the bourses.
Rentomojo shares opened approximately 19% higher on the NSE and 18% higher on the BSE. LCC Projects saw a particularly strong debut, opening nearly 30% above its issue price on both exchanges. Steamhouse India also made a decent start, trading up over 14% on the BSE. Karamtara Engineering experienced a bumper opening, with its shares climbing over 25% on both NSE and BSE.
However, the performance was not uniformly positive. Asset Reconstruction Co. registered a flat debut, with its share price opening at the exact same level as its issue price on both exchanges. Manipal Payment & Identity Solutions faced a weaker start, opening approximately 2.5% lower on the NSE and 2% lower on the BSE, marking a subdued entry into the market.
