RentoMojo DRHP: A Look At Shareholding Pattern & Key Executives

Furniture and appliance rental startup RentoMojo filed its draft red herring prospectus (DRHP) with SEBI, as it gears up to become the first furniture rental startup to go public in India. The proposed IPO will include a fresh issue of shares worth up to ₹150 Cr and an offer for sale (OFS) of up to 2.84 Cr shares.

The IPO will allow partial exits for investors like Accel India, Edelweiss Discovery Fund, ValueQuest, Madison India Capital, Chiratae Ventures, International Finance Corporation and GMO Payment Gateway. Meanwhile, promoter and cofounder Geetansh Bamania also plans to sell 20.07 Lakh shares via the IPO.

Accel India, the largest shareholder, intends to sell the highest number of shares at 78.47 Lakh via the IPO. Edelweiss Discovery Fund and Chiratae Ventures plan to sell 32.03 Lakh shares and 29.03 Lakh shares, respectively. 

Other individual shareholders, including Gautam Dalmia, Nitish Mittersain, and Renaud Laplanche, also intend to pare with parts of their stake via the IPO. 

The startup intends to use the fresh capital netted from the IPO to expand its offline presence, set up warehouses, repay debt, and fund general corporate purposes.

Founded in 2014 by Bamania and Ajay Nain, RentoMojo offers subscription-based rentals for furniture, appliances, and home essentials across 22 cities, operating from 21 warehouses with a portfolio of 7.29 Lakh products as of September 30, 2025.

On the financial front, Rentomojo strengthened its performance in the run up to the IPO. In the six months ending September 30, 2025, RentoMojo reported a profit after tax (PAT) of ₹61.4 Cr on operating revenue of ₹176.6 Cr, including a tax credit of ₹32.8 Cr.

For FY25, net profit rose 92% to ₹43.1 Cr from ₹22.4 Cr, while operating revenue increased 38% to ₹266 Cr from ₹192.7 Cr the previous year.

Just hours before filing the DRHP, RentoMojo’s ex-COO and cofounder Nain moved the NCLT’s Bengaluru bench, alleging oppression and mismanagement with the demand to put its IPO on hold.

Nain, who left the startup in 2018, four years after it was founded, claimed that incomplete information was shared during a 2023 share sale to the RM Employee Benefit Trust, which now holds 48.93 Lakh treasury shares, or 4.83% of the company.

He has also sought the restoration of his shares, the removal of the promoter from managerial roles, and to prevent the IPO from going ahead.

In response, RentoMojo has filed caveats to ensure no orders are passed without hearing its side. Notably, after leaving the company, Nain started Gully Network, exited it in 2023, and now works as a growth consultant at EV fintech startup Turno.

A Look At RentoMojo’ Board

Board of Directors

Geetansh Bamania

Bamania is the chairperson, managing director (MD) and chief executive officer (CEO) of the company, a position he has held since its inception. Prior to founding the startup, he worked as an analyst for consultancy major KPMG, as a management trainee at Flipkart, and as a manager at TrendSutra Client Services.

In FY25, Bamania received ₹1.4 Cr, with the remaining ₹43.1 Lakh bonus for FY25 paid in FY26. 

Ketan Krishna 

Krishna is the executive director and head of people & governance at RentoMojo. He has been associated with the company since 2018. 

With 19 years of experience in human resources, Krishna oversees people, culture, and governance, ensuring organisational capability and driving leadership development. 

Prior to joining RentoMojo, he worked in the HR departments of Aditya Birla Retail, Utsav Fashion, Magma Fincorp and IDFC Bank.

In FY25, Krishna received a total remuneration of ₹41.4 Lakh. 

Prashanth Prakash

Accel partner Prakash has been serving as a non-executive nominee director on RentoMojo’s board since December 2024. He has been associated with Accel for over 17 years, since August 2008.

He was not entitled to any remuneration or sitting fees and, accordingly, did not receive any remuneration during FY 25.

Dr Niddodi Subrao Rajan

Rajan chair’s RentoMojo’s board as independent director and has held this position since January 2026. He brings over two decades of experience in business and management. He has worked with companies like Ernst & Young (EY), chief human resources officer at Tata Sons, group HR and marketing head at IDFC FIRST Bank, and CEO at the IDFC Foundation.

Since the independent directors were appointed in FY26, no remuneration, including sitting fees, was payable to them during FY25. 

Deepali Nair

Nair joined RentoMojo’s board as an independent director in January 2026. She has over 15 years of experience in business and marketing and has worked with companies such as HSBC, L&T , IBM India & more. She currently serves as the global head of brand and corporate communications at Biocon Biologics. 

Dr Sandesh Madhukar Kirkire 

Kirkire also serves as an independent director of the company, a role he has held since January 2026. He brings over two decades of experience in finance and business, having held leadership roles including fund manager and chief executive officer (CEO) at Kotak Mahindra. He did not receive any remuneration for FY25.

Key Managerial Personnel

Hakim Fakhruddin Ujjainwala 

Ujjainwala is the chief financial officer (CFO) of Rentojo. He joined in February 2022 as head of capital and restructuring and was later elevated to the position of CFO in March 2026. He looks after Rentojo’s finance, strategy, fundraising, capital markets, investor relations, and legal matters. He has worked with companies like Pioneer Investcorp and MGB Advisors prior to joining RentoMojo. 

In FY25, he drew a remuneration of ₹74 Lakh.

Deepika N Bhandiwad 

Bhandiwad is the company secretary and compliance officer of RentoMojo. She joined in May 2025 and was appointed to her current role in March 2026. Prior to joining RentoMojo, she served as the company Secretary and compliance officer for BPL. 

Senior Management Personnel 

Prabhat Verma

Verma is the head of engineering and product at RentoMojo, a position he has held since 2022. The IIT Kanpur alumni has worked with companies like Avail Finance and  DocWise in a career spanning over 13 years. 

In FY25, he received a remuneration of ₹97.8 Lakh.

Akash Jangid

Jangid serves as the head of business operations & experience at RentoMojo, a position he has held since 2025. He joined the company in 2023 as its chief of staff.

Prior to joining RentoMojo, he has worked in various capacities with companies like Udaan, Flyrobe, Zinnov, among others. For FY25, his total remuneration stood at ₹50.6 lakh.

Rohan Ajeet Kulkarni

Kulkarni serves as vice president- finance and accounts at RentoMojo and has been associated with the company since 2017. He currently leads the financial reporting, financial planning and analysis, and internal audit functions. He was previously associated with Deloitte  as an audit & assurance senior assistant. 

In FY25, he received a remuneration of ₹40.7 Lakh, including contingent compensation accrued in FY25 but payable in FY26.

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