Six Mainboard IPOs List with Mixed Premiums on Indian Exchanges
Four of six new mainboard listings opened above their issue prices, led by LCC Projects and Karamtara Engineering, while Manipal Payment debuted at a discount.
Six initial public offerings began trading on Indian stock exchanges on September 17, 2026, with mixed opening valuations. Four of the six companies listed at premiums to their respective IPO prices, while Manipal Payment opened at a discount and Asset Reconstruction Company (India) traded flat. According to reports from GN stocks/ipo, the debut session saw significant variation in investor sentiment across the different sectors represented by these new listings.
LCC Projects recorded the highest opening premium among the group, listing at a 31.4 percent markup on the BSE. Karamtara Engineering followed closely with a 25.9 percent premium on the NSE. These strong openings indicate robust initial demand for industrial and construction-related assets, contrasting with the softer reception for payment and asset management services offered by other debutants.
LCC and Karamtara Lead Premium Openings
LCC Projects, a construction firm, opened at 191.90 Indian rupees on the BSE, which is a 31.4 percent premium over its issue price. On the NSE, the stock began trading at 189 rupees, reflecting a 29.4 percent premium. Karamtara Engineering, a manufacturer of industrial equipment, listed at 320 rupees on the NSE, marking a 25.9 percent gain over its 254 rupee offer price. These figures suggest that investors were willing to pay above the set valuation for established operational businesses in these sectors.
Rentomojo, a logistics technology company, debuted at 482.45 rupees on the NSE, a 19.4 percent premium to its 404 rupee IPO price. On the BSE, it opened at 480 rupees, representing an 18.8 percent premium. By 10:18 am, the stock had traded up to approximately 505 rupees. Accel Partner Prashanth Prakash noted that the company has evolved into a category-defining business with scalable operations, describing the listing as the start of a new phase of profitable growth.
Steamhouse and Manipal Show Divergent Trends
Steamhouse India, a provider of steam generation solutions, opened at 94.50 rupees on the NSE, a 16.6 percent premium over its 81 rupee issue price. On the BSE, the stock listed at 93 rupees, reflecting a 15 percent premium. In contrast, Manipal Payment, part of The Manipal Group, experienced a discount debut. The stock opened at 330 rupees on the NSE, which is a 2 percent discount to its 339 rupee IPO price. On the BSE, it began trading at 332 rupees.
Manipal Payment provides payment and identity solutions, yet its opening below the issue price signals cautious investor appetite for this specific fintech segment compared to the industrial peers. The divergence in opening prices highlights how market sentiment varies by sector, with hardware and construction firms attracting higher immediate valuations than payment service providers in this particular batch of listings.
Asset Reconstruction Company Debuts Flat
Asset Reconstruction Company (India) made a muted entry into the market, listing at 139 rupees on both the NSE and BSE. This price is identical to its IPO price, indicating a flat debut with no immediate premium or discount. The lack of movement in the opening trade suggests neutral investor positioning for the asset management firm, which focuses on restructuring non-performing assets.
The flat opening contrasts sharply with the double-digit premiums seen in the industrial and logistics sectors. As the day's trading progressed, the market awaited further volume data to determine if the initial sentiment would hold or shift. The debut of these six companies adds new liquidity and investment options to the mainboard, diversifying the available equity offerings for retail and institutional investors.
