RentoMojo IPO Subscribed 2.82X On Day 2 So Far, NII Portion Booked 6.13X

Furniture and appliance rental startup RentoMojo’s IPO was subscribed 2.82X on the second day of bidding, with investors placing bids for 6.14 Cr shares against the 2.18 Cr shares on offer as of 12:33 IST. 

Non-institutional investors (NIIs) continued to lead the demand, with their portion subscribed 6.13X. The category received bids for 2.85 Cr shares against the 46.54 Lakh shares reserved for it. 

Within the NII category, the portion for investors bidding for more than ₹10 Lakh was subscribed 5.46X, receiving bids for 1.69 Cr shares against the 31.03 Lakh shares on offer. 

The portion reserved for investors bidding between ₹2 Lakh and ₹10 Lakh was subscribed 7.48X, with bids for 1.16 Cr shares against the 15.51 Lakh shares reserved for the category. 

The retail portion was subscribed 2.77X, receiving bids for 3.01 Cr shares against the 1.09 Cr shares reserved for retail investors. The employee portion was subscribed 2.67X, getting bids for 1.39 Lakh shares against the 52,083 shares reserved for eligible employees.

Meanwhile, the portion reserved for qualified institutional buyers (QIBs) was subscribed 0.42X, receiving bids for 26.16 Lakh shares against the 62.06 Lakh shares on offer. Foreign institutional investors accounted for 24.80 Lakh of the shares bid for in the QIB category. 

On the first day of bidding, RentoMojo’s IPO was subscribed 1.42X. The IPO opened for subscription yesterday and will close tomorrow. RentoMojo has fixed its price band at ₹384-₹404 per share and is looking to raise around ₹1,255.57 Cr through the public issue.

At the upper end of the price band, the IPO values RentoMojo at around ₹4,206 Cr (about $445 Mn). The public issue comprises a fresh issue of shares worth ₹150 Cr and an offer for sale (OFS) of up to 2.7 Cr shares worth ₹1,105.6 Cr.

Ahead of the IPO, RentoMojo raised nearly ₹376.1 Cr from anchor investors, allotting 93.1 Lakh equity shares to 41 investors at ₹404 apiece. Sixteen domestic mutual funds subscribed to 60.4 Lakh shares worth nearly ₹244.1 Cr through 30 schemes, accounting for 32.68% of the total anchor allocation, while five life insurance companies picked up 12.6 Lakh shares.

Of the ₹150 Cr fresh issue proceeds, around ₹70 Cr will be used to repay or prepay certain borrowings, while ₹42.5 Cr will go towards rental or licence payments for the company’s offline stores and warehouses. The remaining funds will be used for general corporate purposes.

The OFS will see investors including Accel, Chiratae Ventures, Edelweiss Mutual Fund and GMO Venture offload their shares. Cofounder Geetansh Bamania will also sell up to 8.5 Lakh shares as part of the issue.

Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo operates a platform for subscription-based rental of furniture, appliances and home essentials. 

On the financial front, the company’s net profit rose 142% YoY to ₹104.3 Cr in FY26, while operating revenue grew 45.5% to ₹387 Cr.

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