RentoMojo IPO: Accel Clocks 8.6X Return, Cofounder Geetansh Bamania Pockets ₹34 Cr

Furniture and appliance rental startup RentoMojo’s IPO has delivered sizeable returns for its early backers through its offer-for-sale (OFS) component, ahead of the startup’s stock market debut tomorrow.

Cofounder Geetansh Bamania pocketed ₹34.31 Cr by selling 8.49 Lakh shares at the issue price of ₹404 apiece.

Before the bidding process began, Bamania told Inc42 that he had initially planned to sell nearly 20 Lakh shares through the OFS but later reduced the size of the sale.

“Initially, I was planning to sell close to 20 Lakh shares. But I thought that I’m more bullish on the company and its future prospects, so I decided to reduce my OFS,” he said.

Following the IPO, Bamania retains a 13.37% stake in RentoMojo, comprising 1.40 Cr shares valued at ₹567.56 Cr at the issue price of ₹404 apiece.

Institutional investors also clocked sizeable gains from the OFS. Accel India, RentoMojo’s largest institutional shareholder, sold 78.47 Lakh shares for around ₹317 Cr. The transaction translated into a gross return multiple of 8.6X on the shares sold, based on the investor’s weighted average acquisition cost.

Accel retains around 1.34 Cr shares in RentoMojo, valued at approximately ₹541 Cr at ₹404 apiece.

Madison India pocketed ₹96.9 Cr by selling 23.99 Lakh shares, clocking a gross return of 7.2X. It retains 43.39 Lakh shares valued at approximately ₹175 Cr.

Edelweiss Discovery Fund and ValueQuest clocked gross returns of around 5.4X each on the shares sold.

For IDG Ventures India Fund III LLC, which is managed by Chiratae Ventures, the IPO marked a complete exit from RentoMojo. The investor sold its entire holding of 28.03 Lakh shares for ₹113.3 Cr, representing a gross return of around 5X.

Chiratae Trust and Pratithi Investment Trust partially cashed out their holdings. Chiratae sold 20 Lakh shares for around ₹80.9 Cr, clocking a gross return of 4.9X. It retains 2.52 Lakh shares valued at approximately ₹10 Cr.

GMO Payment Gateway Inc sold 15.13 Lakh shares for ₹61.1 Cr, while GMO GFF Ltd Partnership sold 8.42 Lakh shares for around ₹34 Cr. Both investors exited RentoMojo completely, clocking gross returns of 4.3X and 4.2X, respectively.

Venture Catalysts++, which also made a complete exit, sold 76,000 shares for approximately ₹3.1 Cr, representing a gross return of 5X.

Individual Investors Clock Triple-Digit Returns 

Some of the biggest return multiples from RentoMojo’s IPO accrued to its individual investors.

Nazara Technologies founder Nitish Mittersain pocketed around ₹6 Cr by selling 1.48 Lakh shares. Based on his weighted average acquisition cost, the transaction translated into a gross return of 152.45X.

Mittersain retains 78,460 shares valued at approximately ₹3.17 Cr.

Rajeev Chitrabhanu HUF clocked an even higher return. It pocketed ₹12.4 Cr by selling 3.07 Lakh shares, translating into a gross return multiple of 265.97X. The HUF retains 30.73 Lakh shares worth approximately ₹124.2 Cr.

Renaud Laplanche, cofounder and CEO of US-based fintech company Upgrade, completely exited RentoMojo through the IPO. He sold 7.55 Lakh shares for around ₹30.5 Cr, generating a gross return of 5.38X. 

RentoMojo’s ₹1,255.6 Cr IPO comprised a fresh issue of shares worth ₹150 Cr and an OFS of up to 2.74 Cr shares worth ₹1,105.6 Cr.

The startup had reduced the OFS component from the 2.84 Cr shares proposed in its DRHP.

The issue received bids for 158.68 Cr shares against 2.18 Cr shares on offer, taking the overall subscription to 72.88X at the end of the three-day bidding period.

Ahead of the public issue, RentoMojo raised ₹376.1 Cr from 41 anchor investors by allotting 93.1 Lakh shares at ₹404 apiece. 

Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo operates a subscription-based rental platform for furniture, appliances and other home essentials. As of March 2026, it had 8.5 Lakh live items across furniture and appliances and 2.5 Lakh live subscribers.

The company’s operating revenue grew 45.5% to ₹387 Cr in FY26 from ₹266 Cr in FY25. Its profit after tax jumped nearly 142% YoY to ₹104.3 Cr, although it included a ₹36.6 Cr tax credit.

Meanwhile, EBITDA rose 38% YoY to ₹163.5 Cr, with the margin narrowing to 41.5% from 43.6%. RentoMojo generated around ₹170 Cr in operating cash flow during FY26, while incremental capex stood at about ₹175 Cr as it expanded its rental inventory.

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