IPO Allotment Highlights: Rentomojo, LCC Projects, Karamtara, Steamhouse, ARCIL and Manipal Payment Status
The Indian IPO market is entering an important phase as the allotment process for six mainboard IPOs—Rentomojo, LCC Projects, Karamtara Engineering, Steamhouse India, Asset Reconstruction Company (India) or ARCIL, and Manipal Payment & Identity Solutions—moves to completion.
All six issues opened for subscription on September 9 and closed on September 11, 2026. Their basis of allotment was scheduled for September 15, followed by refund or UPI mandate unblocking and Demat credit on September 16. The companies are scheduled to list on the BSE and NSE on September 17.
For applicants, the immediate question is whether shares have been allotted. The result can be checked through the respective IPO registrar, BSE or NSE, depending on the issue.
Six IPOs Reach the Allotment Stage
The six IPOs together represent more than ₹4,500 crore of primary-market fundraising, covering businesses ranging from consumer rentals and engineering to payments, infrastructure and asset reconstruction.
| IPO | Issue Size | Price Band | Overall Subscription | Registrar |
|---|---|---|---|---|
| Rentomojo | ₹1,255.57 crore | ₹384–₹404 | 72.88x | KFin Technologies |
| Karamtara Engineering | ₹875 crore | ₹241–₹254 | ~62.6x | MUFG Intime |
| Manipal Payment & Identity Solutions | ₹805 crore | ₹322–₹339 | 1.42x | MUFG Intime |
| ARCIL | ₹732.97 crore | ₹132–₹139 | 20.10x | MUFG Intime |
| LCC Projects | ₹427.14 crore | ₹139–₹146 | ~49.57x | KFin Technologies |
| Steamhouse India | ₹414 crore | ₹77–₹81 | ~32.07x | KFin Technologies |
Subscription figures can vary slightly across databases because of rounding and timing, but the overall picture is clear: demand was particularly strong for Rentomojo, Karamtara Engineering, LCC Projects and Steamhouse India.
Rentomojo IPO Allotment Status
Rentomojo attracted the strongest demand among the six issues.
The ₹1,255.57-crore IPO was subscribed 72.88 times, with the QIB portion subscribed 177.29 times, the NII portion 67.93 times and the retail portion 15.59 times. The price band was ₹384–₹404, with a lot size of 37 shares.
The allotment has been reported as finalised on September 15, and investors can check the result through KFin Technologies, BSE or NSE using their PAN, application number or Demat details.
The shares are scheduled to be credited to successful applicants on September 16 and listed on September 17.
The unusually high subscription means retail applicants faced substantial competition for the limited shares available to their category.
LCC Projects IPO Allotment Status
The LCC Projects IPO raised ₹427.14 crore at a price band of ₹139–₹146 per share.
The issue was subscribed around 49.57 times overall. The QIB portion received 78.73 times subscription, while the NII and retail portions were subscribed 64.91 times and 26.34 times, respectively.
KFin Technologies is the registrar.
Investors can check their LCC Projects IPO allotment through the KFin Technologies portal, BSE or NSE using the required application details. Current allotment trackers report that the allotment has been finalised for September 15.
The stock is scheduled to list on September 17.
Karamtara Engineering IPO Allotment Status
Karamtara Engineering's ₹875-crore IPO comprised a ₹675-crore fresh issue and a ₹200-crore offer for sale. Its price band was ₹241–₹254, with a lot size of 59 shares.
The issue received strong demand and was subscribed around 62.6 times overall. The QIB category recorded particularly high demand, while retail participation was also significantly above the shares available.
The registrar is MUFG Intime India.
Applicants can check the Karamtara Engineering IPO allotment through MUFG Intime, BSE or NSE. The shares are scheduled to be credited on September 16, with listing planned for September 17.
The fresh issue proceeds are intended primarily for debt-related obligations, making the company's balance-sheet position an important factor to monitor after listing.
Steamhouse India IPO Allotment Status
Steamhouse India raised ₹414 crore through its IPO, which was priced between ₹77 and ₹81 per share.
The issue was subscribed around 32 times overall by the end of bidding. QIB demand was 46.19 times, NII demand was 46.60 times and the retail portion was subscribed 17.78 times.
KFin Technologies is the registrar for the issue.
The allotment has been reported as finalised on September 15. Investors can check their Steamhouse India IPO allotment through KFin Technologies, BSE or NSE. Shares are scheduled to be credited on September 16 and listed on September 17.
Steamhouse operates in industrial utilities, including the generation and distribution of steam and nitrogen through pipeline networks. Its post-listing performance will therefore depend not only on investor sentiment but also on its ability to expand capacity and maintain profitability.
ARCIL IPO Allotment Status
Asset Reconstruction Company (India) Ltd, commonly known as ARCIL, launched a ₹732.97-crore IPO.
The issue was priced at ₹132–₹139 per share and received 20.10 times overall subscription. QIB demand reached 52.65 times, while the NII and retail categories were subscribed 15.69 times and 3.39 times, respectively.
The IPO is an offer for sale, involving 5.27 crore shares.
The registrar is MUFG Intime India, and investors can check the allotment through the registrar as well as the BSE and NSE platforms. The stock is scheduled to list on September 17.
Because ARCIL operates in the asset-reconstruction business, investors may pay particular attention after listing to the company's asset quality, recoveries, financial performance and regulatory environment.
Manipal Payment & Identity Solutions IPO Allotment Status
The Manipal Payment & Identity Solutions IPO was the least subscribed among the six mainboard issues, although it still received more bids than the number of shares on offer.
The ₹805-crore IPO was subscribed 1.42 times overall. The QIB portion was subscribed 1.26 times, NII 1.22 times and retail investors 2.19 times.
The price band was ₹322–₹339 per share.
MUFG Intime India is the registrar. Investors can check the allotment through MUFG Intime, BSE or NSE once the final allotment data is reflected on the respective platforms. The listing is scheduled for September 17.
Compared with the other five issues, the lower subscription level means the allotment dynamics are different, particularly for retail applicants.
What Happens After IPO Allotment?
The allotment result is only one stage of the IPO process.
For successful applicants, shares are expected to be credited to Demat accounts on September 16. For unsuccessful applications, the blocked funds or UPI mandates are expected to be released around the same time.
The next major event is the stock-market debut on September 17.
Investors should remember that IPO subscription data does not determine how a stock will perform after listing. A heavily subscribed IPO can still face selling pressure after its debut, while a less heavily subscribed issue can trade differently once normal market trading begins.
Similarly, grey market premium (GMP) figures should not be treated as guaranteed listing prices. GMP is an unofficial market indicator and can change before listing.
What Investors Should Watch After Listing
Once these six companies begin trading, investors can move beyond IPO demand and examine the underlying businesses.
Key factors include:
Revenue and profit growth
Cash-flow generation
Debt levels and interest costs
IPO proceeds and their utilisation
Valuation compared with listed peers
Management execution
Sector-specific risks
Quarterly earnings after listing
Promoter and institutional shareholding changes
For companies raising fresh capital, investors should also track whether the funds are used for the purposes stated in the offer documents.
For offer-for-sale-heavy issues, the IPO itself may provide less fresh capital to the company because existing shareholders are selling shares.
IPO Allotment Takeaway
The September 2026 IPO cycle has brought six mainboard companies to the allotment stage at the same time: Rentomojo, LCC Projects, Karamtara Engineering, Steamhouse India, ARCIL and Manipal Payment & Identity Solutions.
Rentomojo recorded the highest overall subscription at 72.88 times, while Manipal Payment & Identity Solutions recorded the lowest at 1.42 times among the six. The contrast shows how differently investors responded to companies operating in different sectors.
For applicants, the immediate step is to check the allotment through the relevant registrar, BSE or NSE. The next key date is September 17, when the six stocks are scheduled to make their market debut.
After listing, however, the focus should shift from subscription numbers to business performance, valuation, cash flows and execution.
Follow the blog for more IPO allotment updates, listing news and Indian stock-market developments.
This article is for informational and educational purposes only and should not be considered investment advice.