India's primary market has an unusually crowded Wednesday. Six mainboard IPOs opened for subscription on September 9, 2026, seeking about ₹4,510 crore between them. The group includes Rentomojo, Karamtara Engineering, Manipal Payment & Identity Solutions, Asset Reconstruction Company (India), LCC Projects and Steamhouse India.
The concentration is notable: historical data cited by Business Standard shows the last time exactly six public offers opened on one day was October 14, 1996. For investors, however, the record is less important than the practical problem it creates. Multiple issues are competing for capital at the same time, so price, fresh-issue use, business quality and valuation deserve more attention than grey-market buzz alone.
Which 6 IPOs are opening today?
Rentomojo is the largest of today's six mainboard offerings at about ₹1,255.57 crore. Its price band is ₹384 to ₹404 per share and the retail lot size is 37 shares, putting one lot at ₹14,948 at the upper end. The issue includes a ₹150 crore fresh issue, with the much larger balance coming through an offer for sale.
Karamtara Engineering is raising ₹875 crore at a price band of ₹241 to ₹254. Its lot size is 59 shares, making the minimum retail bid ₹14,986 at the upper price. The issue combines a ₹675 crore fresh issue with a ₹200 crore offer for sale.
Manipal Payment & Identity Solutions has an ₹805 crore issue with a ₹322 to ₹339 price band. The offering consists of a ₹320 crore fresh issue and an offer for sale worth ₹485 crore. The reported retail lot size is 44 shares, equivalent to ₹14,916 for one lot at ₹339.
Asset Reconstruction Company (India), commonly known as ARCIL, is offering ₹732.97 crore worth of shares. The ₹132 to ₹139 issue is entirely an offer for sale, meaning the company itself does not receive fresh capital from the IPO. A lot contains 107 shares, or ₹14,873 at the upper band.
LCC Projects is seeking ₹427.14 crore with a price band of ₹139 to ₹146, while Steamhouse India is raising ₹414 crore at ₹77 to ₹81 per share. Steamhouse's issue includes ₹353 crore of fresh shares and ₹61 crore through an offer for sale; its retail lot size is 185 shares, or ₹14,985 at the upper band.
IPO dates investors need to know
All six issues are scheduled to remain open from September 9 through September 11. The current timelines point to allotment on September 15 and listing on the BSE and NSE on September 17. Investors should still verify the final exchange and registrar notices because IPO timelines can change.
Why Rentomojo is drawing the most attention
Rentomojo has the largest issue size in the group and a familiar consumer-facing business, which makes it a natural focus for retail searches. But its structure is important: only ₹150 crore is fresh capital, while roughly ₹1,106 crore at the upper end comes from existing shareholders selling shares.
That distinction matters because fresh-issue proceeds can be deployed by a company for stated corporate purposes, whereas offer-for-sale proceeds go to selling shareholders. Investors comparing today's IPOs should therefore look beyond headline issue size and ask how much new capital each business actually receives.
Do grey market premiums tell you which IPO to buy?
Grey market premiums are attracting attention around several of the issues, but GMP is unofficial, unregulated and can move quickly. It is not a guaranteed listing price. A positive premium can reflect short-term demand without resolving questions about valuation, profitability, debt, customer concentration or the sustainability of a company's growth.
The unusually crowded calendar also makes subscription data worth watching through September 11. Institutional, non-institutional and retail demand can change materially between the first and final bidding days.
A busy IPO market meets a weak stock market
Today's IPO rush is arriving against a less comfortable backdrop in the secondary market. Indian shares opened lower on September 9 as crude oil hovered near $100 and geopolitical tensions pressured risk appetite. The rupee also fell sharply to around 94.82 per dollar in the previous session, adding another macro risk for investors to monitor.
At the same time, primary-market activity remains intense. The pipeline also includes the much larger NSE IPO after its SEBI approval, reinforcing how active India's equity fundraising market has become despite volatility in benchmark indices.
What should investors compare before applying?
Start with the prospectus rather than the GMP. Compare revenue and profit trends, cash flow, debt, customer concentration, competitive position, valuation against listed peers and the stated use of fresh proceeds. For an offer dominated by an OFS, understand who is selling and how much of the issue actually strengthens the company's balance sheet or funds expansion.
With six mainboard issues opening together, investors do not need to treat the day as an all-or-nothing event. The more useful comparison is whether an individual company's fundamentals and valuation justify committing capital when several alternatives are available at once.
