On September 9, 2026, investors will see six mainboard IPOs available for subscription. Rentomojo stands out, presenting a robust Rs 1,255.57 crore offering, garnished with noticeable grey market buzz. Meanwhile, Karamtara Engineering and Manipal Payment & Identity Solutions are also set to make significant impacts in fundraising. Rounding out the primary market excitement are Asset Reconstruction, LCC Projects, and Steamhouse India, serving a buffet of investment choices.
The six issues opening on Wednesday are Rentomojo, Asset Reconstruction Co. (India), Manipal Payment & Identity Solutions, Steamhouse India, LCC Projects and Karamtara Engineering. Together, they are looking to raise Rs 4,509.68 crore.
Reliance Industries takes the forefront as Indian companies turn to domestic bonds for fund-raising. Banks, with their significant surplus funds, are eager to actively invest as they anticipate potential interest rate hikes. The influx of foreign currency has injected substantial liquidity into the banking system, empowering financial institutions to seize high-quality corporate credit opportunities.
RBL Bank and Bank of Maharashtra are actively promoting dollar bonds in international markets as they look to refinance short-term loans acquired for FCNR(B) deposits. Meanwhile, UCO Bank and Bank of India are also gearing up for similar fundraising initiatives overseas, aiming to optimize their asset-liability structures following the closing of the FCNR(B) window. These funds will facilitate the repayment of short-term loans taken by the banks.
Defence stocks experienced a notable surge on Tuesday following government approval for military acquisitions. These proposals, valued at approximately ₹1.10 lakh crore, will largely benefit domestic manufacturers. The Nifty India Defence index reached a record high, reflecting strong investor confidence in the sector. Analysts highlight the significant order inflow visibility and structural growth opportunities for Indian companies.
US stocks fell as renewed AI disruption fears hit software shares, while rising oil prices and shifting Federal Reserve rate expectations added pressure to markets. The S&P 500, Nasdaq and Dow declined as investors awaited inflation data, weighed Middle East tensions and reassessed the outlook for interest rates and equities.
National Stock Exchange of India is likely to price its long-awaited IPO at Rs 1,700-1,785 a share, below its earlier range of Rs 2,000-2,100. The exchange may also reduce the stake on offer to 5.5%, valuing NSE at up to 4.42 trillion rupees.
Rentomojo has raised Rs 376 crore from anchor investors ahead of its IPO, which opens on September 9. The company allotted 93 lakh shares to 41 investors at Rs 404 apiece. BlackRock, Goldman Sachs, ICICI Prudential Mutual Fund, HDFC Mutual Fund and other institutional investors participated in the anchor book.
Japanese investors significantly increased overseas equity purchases in August. They divested from foreign bonds amid global market selloffs and rising yields. Strong global earnings and AI optimism fueled this notable shift in investment strategy. Investment trusts and life insurers led the move into foreign stocks. Pension funds, however, bought foreign bonds and equities during this period.
Indian equity markets extended losses on September 8, with Sensex and Nifty falling amid elevated crude prices, rate-hike concerns and heavy IPO activity. Broader markets outperformed, while technical indicators showed continued weakness, though deeply oversold conditions could support a near-term rebound.
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