10 IPOs Open Today: ₹7,288 Crore IPO Rush Creates Investor Dilemma — Check GMP & Key Details
September 9, 2026 — IPO News: India's primary market is witnessing an exceptionally busy session today, with 10 IPOs available for subscription at different stages, collectively looking to raise around ₹7,288 crore.
The unusual IPO rush comes as six Mainboard IPOs open today, while three other IPOs enter their second day of bidding and Pranav Constructions IPO enters its final day.
With so many issues competing for investor money at the same time, investors are facing an important question: which IPO deserves attention and which ones should be skipped?
10 IPOs Available for Subscription Today
The primary market lineup includes both Mainboard and SME issues.
| IPO | Status Today | Price Band | Issue Size | Latest GMP* |
|---|---|---|---|---|
| Pranav Constructions | Closing Today | ₹118–124 | ₹351.03 Cr | ~₹39–45 |
| Kanohar Electricals | Day 2 | ₹601–632 | ~₹1,056 Cr | ~₹215–218 |
| Prasol Chemicals | Day 2 | ₹643–676 | ₹500 Cr | ~₹30–50 |
| Glass Wall Systems | Day 2 | ₹172–182 | ~₹428 Cr | ~₹55 |
| Rentomojo | Opens Today | ₹384–404 | ₹1,255.57 Cr | ~₹125–134 |
| Karamtara Engineering | Opens Today | ₹241–254 | ₹875 Cr | ~₹60–68 |
| Manipal Payment & Identity | Opens Today | ₹322–339 | ₹805 Cr | ~₹35–39 |
| ARCIL | Opens Today | ₹132–139 | ₹732.97 Cr | ~₹30 |
| LCC Projects | Opens Today | ₹139–146 | ₹427.14 Cr | ~₹30–35 |
| Steamhouse India | Opens Today | ₹77–81 | ₹414 Cr | ~₹20 |
*GMP is unofficial and varies between market trackers. The figures above represent recent reported ranges rather than guaranteed prices.
Why Is Today So Important for IPO Investors?
The scale of today's IPO activity is unusual.
Six Mainboard IPOs are opening simultaneously:
- Rentomojo
- Karamtara Engineering
- Manipal Payment & Identity Solutions
- ARCIL
- LCC Projects
- Steamhouse India
Together, these six issues are targeting approximately ₹4,510 crore. Reuters described the September 9 lineup as a record six IPOs scheduled to open on one day.
At the same time, Pranav Constructions, Kanohar Electricals, Prasol Chemicals and Glass Wall Systems are already in the market.
That creates a rare situation where investors have a very large number of IPO choices simultaneously.
Pranav Constructions IPO Closes Today
The Pranav Constructions IPO is entering its final day of bidding today.
The company has fixed the price band at ₹118–₹124, with a lot size of 120 shares. Retail investors need ₹14,880 for one lot at the upper price band. The total issue size is approximately ₹351.03 crore.
The IPO received strong demand from investors during its first two days.
By the end of Day 2, the issue had reportedly been subscribed approximately 18.20 times, according to NSE data reported by Economic Times.
Pranav Constructions GMP
Recent GMP trackers are showing a premium in the region of ₹39–₹45, although figures differ by source and time.
One tracker reported ₹39 GMP at 8:00 AM on September 9, implying an indicative price of ₹163. Another tracker continued to show higher quotes around ₹44–₹45.
Investors should therefore check the latest GMP immediately before making an application.
IPO closes: September 9
Allotment: September 10
Listing: September 15
Six Mainboard IPOs Open Today
1. Rentomojo IPO
Rentomojo is the largest IPO opening today, with an issue size of approximately ₹1,255.57 crore.
The price band is ₹384–₹404, with a lot size of 37 shares.
The minimum retail investment at the upper price band is ₹14,948.
The latest market reports indicate a GMP of roughly ₹125–₹134, suggesting strong grey-market interest. Economic Times reported a GMP around 33% at the time of its September 9 article.
IPO Dates: September 9–11
Expected Listing: September 17
2. Karamtara Engineering IPO
The Karamtara Engineering IPO is looking to raise approximately ₹875 crore.
The price band is ₹241–₹254, while the lot size is 59 shares.
At ₹254, one retail lot requires approximately ₹14,986.
Recent GMP trackers are showing a premium around ₹60–₹68, although the grey-market rate continues to fluctuate.
IPO Dates: September 9–11
Expected Listing: September 17
3. Manipal Payment & Identity Solutions IPO
The Manipal Payment & Identity Solutions IPO has an issue size of approximately ₹805 crore.
The company has fixed the price band at ₹322–₹339.
Recent GMP trackers indicate a premium of approximately ₹35–₹39.
IPO Dates: September 9–11
Expected Listing: September 17
4. ARCIL IPO
The Asset Reconstruction Company (India) IPO, popularly known as ARCIL, is also opening today.
The issue size is approximately ₹732.97 crore, with a price band of ₹132–₹139.
Recent grey-market indications are around ₹30.
The IPO is particularly notable because it is being offered through an OFS structure, meaning the proceeds primarily go to selling shareholders rather than directly to the company.
IPO Dates: September 9–11
Expected Listing: September 17
5. LCC Projects IPO
LCC Projects is raising approximately ₹427.14 crore.
The price band is ₹139–₹146, with a lot size of 102 shares.
Recent GMP trackers show a premium around ₹30–₹35.
IPO Dates: September 9–11
Expected Listing: September 17
6. Steamhouse India IPO
Steamhouse India completes today's six-IPO Mainboard lineup.
The IPO has a price band of ₹77–₹81 and an issue size of approximately ₹414 crore.
Recent GMP trackers indicate that the grey-market premium is comparatively modest, around ₹20, although this can change quickly during the subscription period.
IPO Dates: September 9–11
Expected Listing: September 17
₹7,288 Crore IPO Opportunity — But Also a Liquidity Challenge
The total amount being sought by the IPOs available today is approximately ₹7,288 crore.
This creates both an opportunity and a challenge.
When several IPOs open simultaneously, investors have to distribute available capital across multiple issues. This can potentially affect subscription patterns, particularly in the non-institutional and retail categories.
Market experts are therefore likely to watch QIB and NII subscription numbers carefully during the next two days.
Which IPO Has the Strongest GMP?
Based on currently reported GMP figures, Kanohar Electricals and Rentomojo are among the strongest grey-market performers in the current Mainboard IPO lineup.
Recent GMP data shows approximately:
| IPO | Recent GMP Range |
|---|---|
| Kanohar Electricals | ₹215–218 |
| Rentomojo | ₹125–134 |
| Karamtara Engineering | ₹60–68 |
| Glass Wall Systems | ~₹55 |
| Prasol Chemicals | ₹30–50 |
| Pranav Constructions | ₹39–45 |
| LCC Projects | ₹30–35 |
| Manipal Payment & Identity | ₹35–39 |
| ARCIL | ~₹30 |
| Steamhouse India | ~₹20 |
These numbers are not directly comparable simply by rupee value because every IPO has a different price band.
For example, a ₹60 GMP on a ₹254 IPO price represents a much different percentage premium than a ₹60 GMP on a ₹600 IPO.
GMP Percentage Is More Important Than GMP Amount
Investors should calculate:
GMP % = GMP ÷ Upper Price Band × 100
For example, if an IPO has:
Upper Price = ₹254
GMP = ₹60
Then:
₹60 ÷ ₹254 × 100 ≈ 23.6%
This gives a better comparison between different IPOs.
However, even GMP percentage should not be treated as a guaranteed return.
IPO Investors Should Watch Subscription Data
With so many IPOs open simultaneously, subscription data becomes particularly important.
Investors should monitor:
QIB Subscription
Qualified Institutional Buyers can provide an important indication of institutional demand.
NII/HNI Subscription
High NII demand can sometimes indicate strong short-term interest, but it can also be driven by leveraged applications.
Retail Subscription
Retail demand provides an indication of individual investor participation.
Overall Subscription
The overall subscription number provides a broad view of demand but should not be the only decision-making factor.
NSE IPO Remains the Biggest Upcoming Story
Even with today's IPO rush, the market's biggest upcoming event remains the NSE IPO.
Recent reports indicate that NSE could price its IPO around ₹1,700–₹1,785 per share, although Reuters noted that the information came from Bloomberg News and had not been independently verified.
The NSE issue could become one of India's largest IPOs and is expected to attract enormous investor attention.
This means September could remain an exceptionally busy month for India's primary market.
What Should Investors Do Today?
With 10 IPOs available for subscription, investors should avoid trying to apply for everything.
A better approach is to compare:
- Business model
- Revenue growth
- Profitability
- Valuation
- Debt
- IPO structure
- Fresh issue vs OFS
- Promoter holding
- Industry outlook
- QIB demand
- NII demand
- Retail subscription
- GMP trend
Most importantly, GMP should be treated as one data point rather than the entire investment thesis.
10 IPOs Open Today: Final Take
September 9, 2026 is turning into an extraordinary day for India's IPO market.
With 10 IPOs available for subscription and around ₹7,288 crore in fundraising, investors have more choices than usual.
Among today's developments, Pranav Constructions is closing today after strong subscription demand, while six fresh Mainboard IPOs — Rentomojo, Karamtara Engineering, Manipal Payment & Identity Solutions, ARCIL, LCC Projects and Steamhouse India — have opened for bidding.
The IPO market is clearly in high gear, but the large number of simultaneous issues also means investors need to be selective.
Check the latest GMP, subscription status and fundamentals before applying — and don't let GMP alone decide your IPO investment.
GMP Disclaimer
Grey Market Premium (GMP) is an unofficial and unregulated market indicator. GMP can change frequently based on demand, market sentiment and other factors. It does not guarantee the actual listing price or investment returns. Investors should conduct their own research and consult a qualified financial adviser before making investment decisions. GMP IPO Watch does not guarantee any listing gain or investment return.
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