IPO-Bound RentoMojo Nets ₹376 Cr From Anchor Investors
Superadmin
Ahead of the commencement of the bidding for its public issue on September 9, furniture and appliance rental platform RentMojo has raised nearly ₹376.1 Cr from anchor investors.
In a filing with the exchanges, the startup said that it allotted 93.1 Lakh equity shares to 41 anchor investors at ₹404 apiece, the upper end of its IPO price band.
Sixteen domestic mutual funds lapped up 60.4 Lakh shares worth nearly ₹244.1 Cr via a total of 30 schemes, accounting for 32.68% of the total anchor allocation. In addition, five life insurance companies picked up 12.6 Lakh shares for a sum of ₹51 Lakh.
The anchor round saw participation from Kotak Mahindra Trustee, Edelweiss, Invesco, HDFC, Motlal Oswal, Bajaj Finserv, JM Financials, ICICI Prudential, among others.
RentoMojo’s public issue comprises a fresh issue of shares worth up to ₹150 Cr and an offer for sale (OFS) of up to 2.7 Cr shares. It has also set a price band of ₹384-₹404 apiece for its upcoming IPO which will value the startup at nearly ₹4,206 Cr (about $445.1 Mn) at the upper end of the spectrum.
RentoMojo’s IPO will now open for subscription on September 9 (Wednesday) and close on September 11 (Friday).
This story will be updated soon.
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