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The Economic Times
The Economic Times
Ritesh Presswala

Rentomojo IPO day 2; GMP signals 35% potential listing gains. Should you subscribe?

Rentomojo IPO GMP SBI Securities

Rentomojo IPO has entered Day 2 of bidding, with investors still having time to place their bets before the three-day issue closes. Adding to the buzz, the stock is commanding a grey market premium (GMP) of around 35% over its issue price, signalling strong market expectations for a bumper listing.

The enthusiasm was evident on Day 1, when the IPO was subscribed 1.42 times overall against the 2.17 crore shares on offer. Retail investors were even more aggressive, with the portion reserved for Retail Individual Investors (RIIs) subscribed 1.54 times against 1.08 crore shares.

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