Historic IPO Day: Six IPOs Open Together After Nearly 30 Years

India’s primary market is witnessing a rare Historic IPO Day on September 9, 2026, with six mainboard initial public offerings (IPOs) opening for subscription on the same day. The unusual concentration marks the first time in nearly three decades that exactly six IPOs have opened together in a single day.

The six companies — Rentomojo, Karamtara Engineering, Manipal Payment & Identity Solutions, Asset Reconstruction Company (India), LCC Projects and Steamhouse India — are collectively seeking to raise approximately ₹4,509.68 crore.

The event comes amid a broader resurgence in India’s IPO market, with investors facing a crowded primary-market calendar and multiple companies competing for capital.

Why September 9 Is Being Called a Historic IPO Day

The significance of September 9 goes beyond the number of companies launching their public issues.

According to historical data cited by Business Standard from Prime Database, the last time exactly six IPOs opened for subscription on the same day was October 14, 1996. That makes the current IPO rush the first such occurrence in about 30 years.

The mid-1990s were an exceptionally active period for India’s IPO market, with several days recording unusually high numbers of public offerings.

The return of such a concentrated IPO schedule highlights how much the Indian primary market has expanded in scale and investor participation.

Six IPOs Open for Subscription

The six mainboard issues opening on September 9 cover a diverse set of industries.

Rentomojo is the largest among them, with an issue size of approximately ₹1,255.57 crore. Karamtara Engineering follows with ₹875 crore, while Manipal Payment & Identity Solutions is targeting around ₹805 crore.

Asset Reconstruction Company (India) is raising approximately ₹732.97 crore, followed by LCC Projects at about ₹427.14 crore and Steamhouse India at ₹414 crore.

Together, the six issues are targeting roughly ₹4,510 crore.

Rentomojo IPO Leads the Pack

Rentomojo, an online rental platform for furniture and appliances, has the largest issue among the six IPOs.

Its IPO is worth approximately ₹1,255.57 crore, with a price band of ₹384 to ₹404 per share. The offering includes a fresh issue of around ₹150 crore and an offer for sale of approximately ₹1,105.57 crore.

The company plans to use proceeds from the fresh issue for purposes including debt repayment, lease-related payments and general corporate requirements.

Its large issue size and consumer-facing business model have made Rentomojo one of the more closely watched offerings of the day.

Karamtara Engineering IPO

Karamtara Engineering is seeking to raise ₹875 crore through its public issue.

The IPO comprises a fresh issue of approximately ₹675 crore and an offer for sale worth up to ₹200 crore. The price band has been fixed at ₹241 to ₹254 per share.

The company operates in the engineering and manufacturing space, giving investors exposure to India’s industrial and infrastructure-linked growth themes.

Market observers have also identified Karamtara Engineering as one of the more closely followed offerings in the September 9 IPO lineup.

Manipal Payment & Identity Solutions IPO

Manipal Payment & Identity Solutions is another major offering opening on the same day.

The company is targeting approximately ₹805 crore, with the issue comprising a fresh issue of around ₹320 crore and an offer for sale of up to ₹485 crore. Its price band is ₹322 to ₹339 per share, according to market reports.

The business operates in the payments and identity-solutions ecosystem, giving investors another technology-linked opportunity amid the crowded IPO calendar.

Steamhouse India IPO

Steamhouse India is looking to raise approximately ₹414 crore through its IPO.

The issue includes a fresh component of about ₹353 crore and an offer for sale of approximately ₹61 crore. The price band is ₹77 to ₹81 per share.

Steamhouse adds an industrial and energy-related business to a September 9 lineup that already spans consumer services, financial services, payments and engineering.

LCC Projects IPO

LCC Projects has set its IPO size at approximately ₹427.14 crore.

The company has fixed a price band of ₹139 to ₹146 per share, with the issue scheduled to remain open from September 9 to September 11.

The offering gives investors exposure to the infrastructure and engineering space, further diversifying the six-IPO lineup.

Asset Reconstruction Company IPO

Asset Reconstruction Company (India), commonly referred to as ARCIL, is also entering the market during the Historic IPO Day.

Its issue is worth approximately ₹732.97 crore and is entirely an offer for sale. The price band has been fixed at ₹132 to ₹139 per share.

Its presence means the September 9 IPO rush also includes a specialised financial-services business focused on stressed assets and asset reconstruction.

Six Fresh IPOs vs 10 Issues Open for Subscription

There is an important distinction between six fresh IPOs opening on September 9 and the total number of IPOs available to investors that day.

While exactly six new mainboard IPOs are opening, as many as 10 IPOs are available for subscription at different stages of their bidding periods.

According to Business Today, these 10 issues collectively involve nearly ₹6,950 crore. Three other IPOs were already in their second day of bidding, while Pranav Constructions entered its final subscription day.

Therefore, the ₹6,950 crore figure refers to the broader pool of IPOs open for bidding, rather than only the six fresh IPOs launching on September 9.

Why the IPO Rush Matters for Investors

A concentration of IPOs can create both opportunities and challenges for investors.

On one hand, investors have a wider choice across sectors and business models. On the other, multiple simultaneous offerings can divide available capital and make it harder for individual issues to attract strong subscription demand.

Market experts have therefore stressed selectivity rather than blindly applying to every IPO. Investors are being encouraged to examine valuations, financial performance, business prospects, issue structure and the intended use of proceeds before making decisions.

Grey market premiums can provide a snapshot of unofficial market sentiment, but they can change quickly and should not be treated as a guarantee of listing performance.

India’s IPO Market Enters a High-Activity Phase

The September 9 IPO rush is part of a much larger revival in India’s primary market.

Reuters reported that six IPOs scheduled for the day were collectively targeting up to ₹45.11 billion, or roughly ₹4,511 crore. The agency noted that improving risk appetite has helped revive IPO activity after a slower start to the year.

India has also maintained its position as one of the world’s busiest IPO markets by number of offerings, with companies across sectors continuing to explore public-market fundraising.

The current pipeline includes several large potential listings, suggesting that the September activity may be only one part of a much bigger IPO cycle.

What Happens Next

All six fresh IPOs opening on September 9 are scheduled to remain open until September 11.

Based on current schedules, allotments are expected around September 15, with listing targeted for September 17.

Investors will now closely track subscription numbers across retail, qualified institutional buyers and non-institutional investors.

The eventual listing performance of these companies could also provide an indication of how much appetite investors currently have for new equity offerings amid changing global market conditions.

Key Takeaway

The Historic IPO Day on September 9, 2026, marks a rare moment for India’s primary market, with six mainboard IPOs opening simultaneously for the first time in roughly 30 years. The six fresh issues are seeking around ₹4,510 crore collectively, while the broader IPO pool available for subscription involves nearly ₹6,950 crore.

The event reflects the strength and depth of India’s current IPO pipeline, but the crowded market also means investors may need to be more selective about valuations, business quality and long-term growth prospects.

FAQs

1. What is the Historic IPO Day in India?

The Historic IPO Day refers to September 9, 2026, when six mainboard IPOs opened for subscription on the same day, something that had not happened with exactly six issues since October 14, 1996.

2. How many IPOs opened on September 9, 2026?

Six fresh mainboard IPOs opened for subscription on September 9. However, 10 IPOs in total were available for subscription at different stages of their bidding periods.

3. Which six IPOs opened on September 9?

The six IPOs are Rentomojo, Karamtara Engineering, Manipal Payment & Identity Solutions, Asset Reconstruction Company (India), LCC Projects and Steamhouse India.

4. How much are the six fresh IPOs raising?

The six IPOs are collectively seeking approximately ₹4,509.68 crore.

5. Which is the largest IPO among the six?

Rentomojo has the largest issue size at approximately ₹1,255.57 crore.

6. How much is Rentomojo raising?

Rentomojo is seeking approximately ₹1,255.57 crore through its IPO, including a fresh issue and an offer for sale.

7. When will the six IPOs close?

The six fresh IPOs are scheduled to remain open for subscription from September 9 through September 11, 2026.

8. When are the IPOs expected to list?

Current schedules indicate that the six IPOs are expected to be listed around September 17, 2026, subject to the completion of the allotment and listing process.

9. Is ₹6,950 crore the amount being raised by the six IPOs?

No. The six fresh IPOs are collectively targeting about ₹4,510 crore. The nearly ₹6,950 crore figure refers to the broader set of 10 IPOs open for subscription on September 9 at different stages.

10. Does the IPO rush guarantee strong listing gains?

No. A high level of IPO activity does not guarantee listing gains. Investors should consider valuation, financial performance, business risks, growth prospects and subscription data before making an investment decision.