Marking a monumental milestone not witnessed on Dalal Street in three decades, the Indian stock market experienced a historic frenzy on Wednesday, September 9, 2026, as six mainboard initial public offerings (IPOs) opened for public subscription simultaneously. The last time a similar multi-IPO wave hit the domestic bourses was on October 14, 1996. Through this massive collective issuance wave, the six participating companies aim to raise an aggregate of Rs 4,509.68 crore from investors, highlighting robust fundraising momentum despite broader market indices consolidating below key psychological levels.
Detailed Breakdown of the Six Simultaneous IPOs: Issue Sizes and Price Bands
The blockbuster lineup features diverse enterprises spanning digital rentals, engineering, payment solutions, financial asset reconstruction, infrastructure, and industrial services:
Rentmojo: Featuring a total issue size of Rs 1,255.57 crore—comprising a fresh issue of Rs 150 crore and an Offer for Sale (OFS) of Rs 1,105.57 crore—with a price band fixed between Rs 384 and Rs 404 per share.
Karamtara Engineering: Targeting a total mobilization of Rs 875 crore, including a fresh issue worth Rs 675 crore and an OFS of Rs 200 crore, priced at Rs 241 to Rs 254 per share.
Manipal Payment & Identity Solutions: Offering an issue valued at Rs 805 crore, split into a Rs 320 crore fresh issue and a Rs 485 crore OFS, with a price band set at Rs 322 to Rs 339.
Asset Reconstruction Company India Limited (ARCIL): Launching a Rs 732.97 crore offering structured entirely as an Offer for Sale, with price bands established between Rs 132 and Rs 139 per share.
LCC Projects: Seeking to raise Rs 427.14 crore through a combination of a Rs 258 crore fresh issue and a Rs 169.14 crore OFS, priced from Rs 139 to Rs 146 per share.
Steamhouse India: Bringing a Rs 414 crore issue consisting of a Rs 353 crore fresh issue and a Rs 61 crore OFS, with an accessible price band of Rs 77 to Rs 81 per share.
Market Analysts Issue Cautions Amid Record IPO Frenzy and Index Consolidation
While the simultaneous opening of six primary issues has electrified retail and institutional investor interest, financial experts have issued prudent words of caution. Occurring during a market phase where benchmark indices are navigating consolidation below the 24,000 threshold, analysts have strongly advised market participants to look beyond the immediate lure of listing gains. Investors are urged to thoroughly evaluate fundamental business models, corporate valuations, and long-term earnings potential rather than subscribing blindly to the ongoing IPO rush.