Shares of Rentomojo surged 9% on Thursday, taking their debut-day gains to 30% above the IPO price. The stock had listed earlier in the day at a 19% premium to its issue price.
Rentomojo shares opened at Rs 482.45 apiece on the NSE, marking a premium of more than 19% over the IPO price of Rs 404 apiece. In less than an hour of its debut, the stock rallied sharply by over 9% to trade at Rs 526.70 apiece, adding more than Rs 460 crore to the company’s market capitalisation and taking it to nearly Rs 5,484 crore.
