Rentomojo IPO subscriptions hit 1.97x on 1st bidding day
Business
Rentomojo's IPO just opened and it's already getting a lot of attention: subscriptions hit nearly double (1.97x) on the first day.
Shares are priced between ₹384 and ₹404, with bidding open until Friday, September 11.
The offering includes both new shares worth ₹150 crore and an offer for sale from existing shareholders totaling ₹1,056 crore.
Rentomojo non institutional investors subscribe 3.87x
Non-institutional investors are leading the charge, subscribing almost four times over (3.87x).
Employees and retail buyers are also showing strong interest at just over twice the available shares each, while big institutional players seem less enthusiastic so far, with only 0.41x subscribed.