RentoMojo Files RHP, Trims OFS To 2.7 Cr Shares
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Months after receiving the markets regulator’s nod for its IPO, furniture and appliance rental startup RentoMojo has filed its red herring prospectus (RHP) with the Securities and Exchange Board of India (SEBI).
As per the RHP, the startup plans to raise ₹150 Cr via a fresh issue of shares. However, RentoMojo has trimmed the size of the offer for sale (OFS) component to up to 2.7 Cr shares, down from 2.84 Cr shares proposed in its DRHP.
Investors including Accel, Chiratae Ventures, Edelweiss Mutual Fund, and GMO Venture plan to sell shares through the OFS. Cofounder Geetansh Bamania will also offload up to 8.5 Lakh shares as part of the issue.
The IPO will now open for subscription on Wednesday (September 9) and close on Friday (September 11). Anchor bidding will take place on September 8 (Tuesday).
The proceeds from the fresh issue will be used to expand RentoMojo’s offline footprint, set up new warehouses, repay certain borrowings and for general corporate purposes.
(This story will be updated soon)
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