Newly Listed Trio Powers: Rentomojo, Kanohar, and Glass Wall Drive ₹5,812 Crore Turnover on NSE
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Trading desks on Dalal Street witnessed unprecedented liquidity and frantic retail-institutional participation on Thursday, September 17, as a trio of newly listed debutants dominated the secondary bourses. Shares of Rentomojo, Kanohar Electricals, and Glass Wall Systems (India) emerged as the primary trading magnets, collectively generating a staggering turnover of ₹5,812 crore on the National Stock Exchange (NSE). This massive churn accounted for nearly 6 percent of the exchange's aggregate cash market turnover of ₹98,222 crore for the session, illustrating an aggressive risk appetite and heavy churn within recent IPO entrants.
Rentomojo Leads Trading Frenzy as Stock Surges 32% Over Issue Price
Furniture and consumer appliances rental major Rentomojo stood at the forefront of the trading blitz, recording the highest liquidity with trades worth approximately ₹2,349 crore executed across 4.6 crore equity shares on the NSE alone. Making its secondary market debut on Thursday, Rentomojo listed at ₹489.90 before surging to an intraday peak of ₹547. The counter finally settled at ₹534.25, delivering an impressive 32.2 percent premium over its primary offer price of ₹404, having successfully mobilized ₹1,256 crore via its public issue. The day’s exceptional turnover alone constituted approximately 42 percent of the company's total market capitalization of ₹5,562 crore.
Kanohar Electricals Extends Post-Listing Rally While Glass Wall Systems Hits Upper Circuit
The secondary momentum was equally robust across the remaining two newcomers. Kanohar Electricals—which made its NSE bow on Wednesday—secured second position among top-traded counters on Thursday with a daily turnover of ₹1,916 crore across 2.3 crore shares. Extending its 19 percent listing-day leap, Kanohar climbed an additional 9 percent to finish at ₹817, representing a 29 percent premium over its ₹632 issue price on the back of its ₹1,056 crore fundraising. Meanwhile, architectural glass solutions provider Glass Wall Systems (India) locked in an upper circuit limit with 6.4 crore shares changing hands, posting a turnover of ₹1,546 crore. With its total market value closing around ₹2,267 crore, the day’s trade volume represented a rare churn surpassing 68 percent of the firm’s total market capitalization.
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