RentoMojo Sets Price Band At ₹384-₹404 For ₹1,256 Cr IPO
Superadmin
Furniture and appliance rental company RentoMojo has set a price band of ₹384-₹404 per share for its upcoming IPO.
At the upper end of the price band, the public issue will be worth ₹1,255.6 Cr. This comprises a fresh issue of shares worth ₹150 Cr and an OFS of up to 2.7 Cr shares worth ₹1,105.6 Cr.
At the upper end of the price band, RentoMojo is seeking a post-offer market capitalisation of around ₹4,206.3 Cr (about $445.1 Mn).
The IPO will open for bidding on Wednesday (September 9) and close on September 11 (Friday). Anchor investors will be able to place their bids on Tuesday (September 8). Investors can bid for a minimum of 37 shares and in multiples of 37 thereafter.
RentoMojo is also offering a discount of ₹20 per share to eligible employees bidding under the employee reservation portion.
The company trimmed the OFS component marginally from the 2.8 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. Accel India is the second largest shareholder with a 12.71% stake post-issue, after Bamania, who holds a 13.37% stake.
Of the fresh proceeds, around ₹70 Cr will be used to repay or prepay certain borrowings, while ₹42.5 Cr will be deployed towards rental or licence payments for its offline stores and warehouses. The remaining capital will be used for general corporate purposes.
Founded in 2014 by Bamania and Ajay Nain, RentoMojo operates a subscription-based platform for renting furniture, appliances, and other home essentials.
It claims to operate 20 warehouses and 82 offline stores across 29 cities. At the end of March 2026, it had 8.5 Lakh live items across furniture and appliances and catered to 2.5 Lakh live subscribers.
On the financial front, RentoMojo’s profit after tax jumped nearly 142% to ₹104.3 Cr in FY26 from ₹43.1 Cr in the previous fiscal, aided by a tax credit of ₹36.6 Cr. Operating revenue rose 45.5% to ₹387 Cr during the year under review from ₹266 Cr in FY25.
EBITDA rose 38% to ₹163.5 Cr from ₹118.4 Cr in FY25, while EBITDA margin declined to 41.5% from 43.6% in FY25.
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