India sees 6 main board IPOs, 1st since 1996, ₹4,509.68cr
Big day for the Indian stock market: six main board IPOs opened for subscription today, something that hasn't happened since 1996.
The companies, Rentomojo, Asset Reconstruction Company (India), Manipal Payment & Identity Solutions, Steamhouse India, LCC Projects, and Karamtara Engineering are collectively seeking to raise ₹4,509.68 crore.
Rentomojo leads with the biggest issue at ₹1,255.57 crore.
Analysts cite liquidity, experts warn FOMO
Analysts say all this action is thanks to lots of cash in the market and high demand for mid- and small-cap stocks.
Some companies are also hurrying because their regulatory approvals are about to expire.
But experts suggest not getting swept up in FOMO. It's smart to check how these IPOs actually perform after listing before making any big investment moves.