Six companies made a record-breaking debut on India’s mainboard market on Thursday, marking the most simultaneous listings since 1996 and highlighting a vigorous primary market amid increased IPO activity.
India’s mainboard market reached an unusual milestone on Thursday, when six companies began trading on the same day, the most since at least 1996. According to Business Standard, five of the six finished above their issue prices, led by Karamtara Engineering, whose shares rose 38.6% on debut.
The other strong performers were RentoMojo, up 31.9%, Steamhouse India, up 26.2%, and LCC Projects, up 18.3%. Manipal Payment and Identity Solutions edged 1.99% higher, while Asset Reconstruction Company was the only listing to close below its offer price, ending 1.4% lower. Together, the six firms raised about Rs 4,510 crore, according to market data cited by Business Standard.
The previous record for same-day mainboard debuts was set on 27 December 2024, when five companies listed together and all posted gains in their first session. Business Standard’s analysis of Capitaline and Prime Database data shows that such crowded listing days remain rare, with only a handful of similar occasions recorded over the past three decades.
The surge comes after a brisk year for India’s primary market. Prime Database data show that 81 mainboard companies had raised Rs 1.04 trillion by 16 September 2026, while SME offerings had जुटed Rs 6,814 crore across 151 issues. Geetanjali Kedia, chief analyst at SP Tulsian Investment Advisory Services, told Business Standard that September often brings a rush of listings as companies move before the Shradh period and ahead of the 30 September deadline for financial statements ending in March. She also said valuation depends on company-specific growth prospects and peer comparisons, and warned that a busy pipeline could strain secondary-market liquidity if large offers such as NSE and Jio come to market.
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